LPL Financial LLC Raises Holdings in Biohaven Ltd. (NYSE:BHVN)

LPL Financial LLC increased its holdings in shares of Biohaven Ltd. (NYSE:BHVN) by 4.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 42,190 shares of the company’s stock after purchasing an additional 1,664 shares during the quarter. LPL Financial LLC’s holdings in Biohaven were worth $1,576,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Spire Wealth Management purchased a new stake in Biohaven during the fourth quarter valued at $56,000. Amalgamated Bank increased its position in shares of Biohaven by 21.9% during the 4th quarter. Amalgamated Bank now owns 2,929 shares of the company’s stock valued at $109,000 after purchasing an additional 527 shares during the last quarter. US Bancorp DE increased its position in shares of Biohaven by 36.7% during the 4th quarter. US Bancorp DE now owns 2,971 shares of the company’s stock valued at $111,000 after purchasing an additional 798 shares during the last quarter. KBC Group NV lifted its stake in shares of Biohaven by 50.1% in the 4th quarter. KBC Group NV now owns 3,377 shares of the company’s stock worth $126,000 after purchasing an additional 1,127 shares during the period. Finally, Sanctuary Advisors LLC purchased a new position in shares of Biohaven in the third quarter worth approximately $246,000. 88.78% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Biohaven

In other Biohaven news, Director John W. Childs bought 32,700 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The shares were purchased at an average cost of $30.47 per share, for a total transaction of $996,369.00. Following the transaction, the director now owns 2,320,571 shares of the company’s stock, valued at $70,707,798.37. This represents a 1.43 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 16.00% of the stock is currently owned by insiders.

Biohaven Stock Performance

Shares of NYSE BHVN opened at $20.41 on Friday. The company has a market cap of $2.08 billion, a P/E ratio of -2.18 and a beta of 1.33. Biohaven Ltd. has a 52-week low of $15.79 and a 52-week high of $55.70. The firm’s fifty day moving average is $28.88 and its two-hundred day moving average is $38.78.

Biohaven (NYSE:BHVN) last posted its earnings results on Monday, March 3rd. The company reported ($1.85) EPS for the quarter, missing analysts’ consensus estimates of ($1.56) by ($0.29). As a group, analysts forecast that Biohaven Ltd. will post -8.9 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on BHVN shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $61.00 price target on shares of Biohaven in a research report on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft set a $60.00 target price on Biohaven and gave the stock a “buy” rating in a report on Thursday, March 20th. HC Wainwright reissued a “buy” rating and set a $54.00 price target on shares of Biohaven in a report on Tuesday, March 4th. Morgan Stanley decreased their price objective on Biohaven from $69.00 to $63.00 and set an “overweight” rating on the stock in a research note on Friday, March 7th. Finally, JPMorgan Chase & Co. cut their price objective on Biohaven from $72.00 to $68.00 and set an “overweight” rating for the company in a research note on Wednesday, March 5th. Fourteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Biohaven has a consensus rating of “Buy” and an average target price of $62.77.

Biohaven Profile

Biohaven Ltd., together with its subsidiaries, focuses on discovering, developing, and commercializing therapies for immunology, neuroscience, and oncology worldwide. The company's pipeline products include Troriluzole, which is in Phase 3 clinical trial for the treatment of neurological and neuropsychiatric illnesses; BHV-5500 that blocks glutamate signaling mediated by post-synaptic NMDA receptors; Taldefgrobep Alfa, which is in Phase 3 clinical trial for the treatment of spinal muscular atrophy and obesity; BHV-7000, a candidate in Phase 2/3 clinical trials for the treatment of focal and generalized epilepsy, bipolar disorder, and major depressive disorder; BHV-2100 that is in Phase 1 clinical trials for the treatment of migraines and neuropathic pain; and BHV-8000, a product candidate in Phase 1 clinical trials for the treatment of early Alzheimer's and Parkinson's disease, sclerosis, and amyloid-related imaging abnormalities.