Biohaven Ltd. (NYSE:BHVN) Shares Bought by DnB Asset Management AS

DnB Asset Management AS increased its stake in shares of Biohaven Ltd. (NYSE:BHVN) by 8.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,526 shares of the company’s stock after purchasing an additional 571 shares during the quarter. DnB Asset Management AS’s holdings in Biohaven were worth $281,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Pictet Asset Management Holding SA raised its holdings in Biohaven by 32.2% in the 4th quarter. Pictet Asset Management Holding SA now owns 405,848 shares of the company’s stock valued at $15,158,000 after acquiring an additional 98,779 shares during the last quarter. Norges Bank purchased a new position in Biohaven during the fourth quarter worth about $33,711,000. JPMorgan Chase & Co. boosted its stake in Biohaven by 144.5% in the 4th quarter. JPMorgan Chase & Co. now owns 1,979,169 shares of the company’s stock worth $73,922,000 after buying an additional 1,169,721 shares during the last quarter. EFG Asset Management North America Corp. purchased a new stake in Biohaven in the 4th quarter valued at about $2,117,000. Finally, Prudential Financial Inc. increased its stake in shares of Biohaven by 9.4% during the 4th quarter. Prudential Financial Inc. now owns 5,980 shares of the company’s stock valued at $223,000 after acquiring an additional 514 shares during the last quarter. Institutional investors and hedge funds own 88.78% of the company’s stock.

Biohaven Trading Up 4.7 %

Shares of NYSE:BHVN opened at $23.67 on Thursday. Biohaven Ltd. has a 12-month low of $21.47 and a 12-month high of $55.72. The firm has a market cap of $2.42 billion, a PE ratio of -2.53 and a beta of 1.27. The company has a fifty day simple moving average of $34.21 and a 200 day simple moving average of $41.09.

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

Insider Activity

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

Analysts Set New Price Targets

BHVN has been the subject of a number of recent analyst reports. Royal Bank of Canada restated an “outperform” rating and issued a $61.00 target price on shares of Biohaven in a report on Tuesday, March 4th. JPMorgan Chase & Co. dropped their price objective on Biohaven from $72.00 to $68.00 and set an “overweight” rating for the company in a report on Wednesday, March 5th. HC Wainwright reiterated a “buy” rating and issued a $54.00 target price on shares of Biohaven in a report on Tuesday, March 4th. Morgan Stanley dropped their price target on Biohaven from $69.00 to $63.00 and set an “overweight” rating for the company in a research note on Friday, March 7th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Biohaven in a research note on Tuesday, December 17th. Fourteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $62.77.

About Biohaven

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.