Geode Capital Management LLC Acquires 190,754 Shares of Biohaven Ltd. (NYSE:BHVN)

Geode Capital Management LLC lifted its stake in Biohaven Ltd. (NYSE:BHVN) by 11.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,905,366 shares of the company’s stock after purchasing an additional 190,754 shares during the quarter. Geode Capital Management LLC’s holdings in Biohaven were worth $71,182,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. HighTower Advisors LLC grew its position in Biohaven by 6.1% during the 4th quarter. HighTower Advisors LLC now owns 5,870 shares of the company’s stock valued at $219,000 after purchasing an additional 335 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Biohaven by 0.5% during the third quarter. Franklin Resources Inc. now owns 79,705 shares of the company’s stock valued at $4,206,000 after buying an additional 412 shares during the last quarter. FSC Wealth Advisors LLC grew its holdings in shares of Biohaven by 3.3% during the fourth quarter. FSC Wealth Advisors LLC now owns 15,500 shares of the company’s stock valued at $579,000 after buying an additional 500 shares during the last quarter. Prudential Financial Inc. increased its position in shares of Biohaven by 9.4% during the fourth quarter. Prudential Financial Inc. now owns 5,980 shares of the company’s stock valued at $223,000 after acquiring an additional 514 shares in the last quarter. Finally, Amalgamated Bank raised its holdings in Biohaven by 21.9% in the 4th quarter. Amalgamated Bank now owns 2,929 shares of the company’s stock worth $109,000 after acquiring an additional 527 shares during the last quarter. 88.78% of the stock is owned by institutional investors.

Biohaven Price Performance

Shares of Biohaven stock opened at $17.55 on Friday. Biohaven Ltd. has a 1-year low of $15.79 and a 1-year high of $55.70. The company’s fifty day simple moving average is $30.45 and its 200-day simple moving average is $39.57. The stock has a market capitalization of $1.79 billion, a PE ratio of -1.88 and a beta of 1.33.

Biohaven (NYSE:BHVN) last released its earnings results 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, research analysts anticipate that Biohaven Ltd. will post -8.9 EPS for the current year.

Insider Activity

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

Analyst Upgrades and Downgrades

BHVN has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft set a $60.00 target price on Biohaven and gave the company a “buy” rating in a research note on Thursday, March 20th. Morgan Stanley dropped their price objective on Biohaven from $69.00 to $63.00 and set an “overweight” rating on the stock in a research report on Friday, March 7th. Royal Bank of Canada reissued an “outperform” rating and issued a $61.00 target price on shares of Biohaven in a research report on Tuesday, March 4th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Biohaven in a report on Tuesday, December 17th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Biohaven from $72.00 to $68.00 and set an “overweight” rating for the company in a report on Wednesday, March 5th. Fourteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target 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.