Wells Fargo & Company MN Increases Stock Position in Biohaven Ltd. (NYSE:BHVN)

Wells Fargo & Company MN boosted its holdings in shares of Biohaven Ltd. (NYSE:BHVN) by 30.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 43,650 shares of the company’s stock after buying an additional 10,232 shares during the quarter. Wells Fargo & Company MN’s holdings in Biohaven were worth $1,630,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of BHVN. JPMorgan Chase & Co. boosted its position in Biohaven by 144.5% during the 4th quarter. JPMorgan Chase & Co. now owns 1,979,169 shares of the company’s stock valued at $73,922,000 after acquiring an additional 1,169,721 shares in the last quarter. Norges Bank purchased a new stake in shares of Biohaven during the 4th quarter worth $33,711,000. Vanguard Group Inc. boosted its position in Biohaven by 8.1% during the fourth quarter. Vanguard Group Inc. now owns 8,414,120 shares of the company’s stock valued at $314,267,000 after purchasing an additional 628,211 shares in the last quarter. Wellington Management Group LLP grew its stake in Biohaven by 160.7% in the fourth quarter. Wellington Management Group LLP now owns 634,055 shares of the company’s stock valued at $23,682,000 after purchasing an additional 390,888 shares during the last quarter. Finally, Emerald Advisers LLC bought a new position in Biohaven in the fourth quarter worth about $13,466,000. 88.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Insider Buying and Selling at Biohaven

In related news, Director John W. Childs acquired 32,700 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was acquired at an average price of $30.47 per share, with a total value of $996,369.00. Following the acquisition, the director now directly owns 2,320,571 shares in the company, valued at $70,707,798.37. This represents a 1.43 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 16.00% of the stock is owned by corporate insiders.

Biohaven Stock Down 15.4 %

Biohaven stock opened at $19.81 on Friday. Biohaven Ltd. has a 52 week low of $15.79 and a 52 week high of $55.70. The stock has a 50-day moving average price of $26.44 and a 200 day moving average price of $37.51. The company has a market capitalization of $2.02 billion, a price-to-earnings ratio of -2.12 and a beta of 1.33.

Biohaven (NYSE:BHVN) last announced its quarterly earnings data on Monday, March 3rd. The company reported ($1.85) EPS for the quarter, missing the consensus estimate of ($1.56) by ($0.29). Research analysts anticipate that Biohaven Ltd. will post -8.9 EPS for the current fiscal year.

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.