Biohaven Ltd. (NYSE:BHVN) Shares Acquired by Clearbridge Investments LLC

Clearbridge Investments LLC increased its holdings in shares of Biohaven Ltd. (NYSE:BHVN) by 8.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 521,099 shares of the company’s stock after buying an additional 41,850 shares during the period. Clearbridge Investments LLC’s holdings in Biohaven were worth $19,463,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its position in Biohaven by 5.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 632,690 shares of the company’s stock worth $31,616,000 after acquiring an additional 32,769 shares during the period. The Manufacturers Life Insurance Company lifted its stake in Biohaven by 4.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 192,677 shares of the company’s stock valued at $9,628,000 after buying an additional 8,905 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Biohaven by 563.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 508,622 shares of the company’s stock valued at $25,416,000 after buying an additional 431,954 shares in the last quarter. Captrust Financial Advisors acquired a new stake in Biohaven in the 3rd quarter worth about $293,000. Finally, Bamco Inc. NY increased its stake in Biohaven by 28.6% during the 3rd quarter. Bamco Inc. NY now owns 45,000 shares of the company’s stock worth $2,249,000 after buying an additional 10,000 shares in the last quarter. Hedge funds and other institutional investors own 88.78% of the company’s stock.

Insider Buying and Selling at Biohaven

In related news, Director John W. Childs acquired 32,700 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was purchased at an average price of $30.47 per share, with a total value of $996,369.00. Following the transaction, the director now owns 2,320,571 shares of the company’s stock, valued at approximately $70,707,798.37. This trade represents a 1.43 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 16.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on BHVN shares. Royal Bank of Canada restated an “outperform” rating and issued a $61.00 target price on shares of Biohaven in a research report on Tuesday, March 4th. Morgan Stanley dropped their target price on shares of Biohaven from $69.00 to $63.00 and set an “overweight” rating for the company in a report on Friday, March 7th. HC Wainwright reiterated a “buy” rating and issued a $54.00 target price on shares of Biohaven in a research report on Tuesday, March 4th. 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 research report on Wednesday, March 5th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Biohaven in a report on Tuesday, December 17th. Fourteen investment 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 currently has a consensus rating of “Buy” and an average price target of $62.77.

Biohaven Stock Performance

Shares of Biohaven stock opened at $23.67 on Thursday. Biohaven Ltd. has a fifty-two week low of $21.47 and a fifty-two week high of $55.72. The firm has a market capitalization of $2.42 billion, a price-to-earnings ratio of -2.53 and a beta of 1.27. The stock has a 50 day moving average of $34.21 and a 200 day moving average of $41.09.

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

Biohaven Company 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.