Biohaven Ltd. (NYSE:BHVN) Shares Acquired by Ameriprise Financial Inc.

Ameriprise Financial Inc. lifted its position in shares of Biohaven Ltd. (NYSE:BHVN) by 40.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 508,682 shares of the company’s stock after acquiring an additional 145,331 shares during the quarter. Ameriprise Financial Inc.’s holdings in Biohaven were worth $18,994,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of BHVN. JPMorgan Chase & Co. grew its position in Biohaven by 144.5% in the 4th quarter. JPMorgan Chase & Co. now owns 1,979,169 shares of the company’s stock valued at $73,922,000 after buying an additional 1,169,721 shares in the last quarter. Norges Bank acquired a new position in Biohaven during the fourth quarter valued at $33,711,000. Vanguard Group Inc. boosted its holdings in shares of Biohaven by 8.1% during the fourth quarter. Vanguard Group Inc. now owns 8,414,120 shares of the company’s stock worth $314,267,000 after purchasing an additional 628,211 shares during the period. Wellington Management Group LLP raised its holdings in shares of Biohaven by 160.7% during the fourth quarter. Wellington Management Group LLP now owns 634,055 shares of the company’s stock worth $23,682,000 after acquiring an additional 390,888 shares in the last quarter. Finally, Emerald Advisers LLC acquired a new position in Biohaven in the fourth quarter worth approximately $13,466,000. Institutional investors own 88.78% of the company’s stock.

Biohaven Trading Down 19.6%

Shares of NYSE BHVN opened at $15.81 on Friday. The firm has a market cap of $1.61 billion, a PE ratio of -1.69 and a beta of 1.18. The company has a fifty day moving average price of $22.57 and a 200 day moving average price of $34.55. Biohaven Ltd. has a 1-year low of $14.69 and a 1-year high of $55.70.

Biohaven (NYSE:BHVN) last posted its quarterly earnings results on Monday, May 12th. The company reported ($2.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.67) by ($0.50). Equities research analysts forecast that Biohaven Ltd. will post -8.9 EPS for the current year.

Insider Buying and Selling at Biohaven

In other Biohaven news, Director John W. Childs purchased 32,700 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were acquired at an average cost of $30.47 per share, for a total transaction of $996,369.00. Following the completion of the purchase, the director now owns 2,320,571 shares of the company’s stock, valued at approximately $70,707,798.37. The trade was a 1.43% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 16.00% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on BHVN shares. HC Wainwright restated a “buy” rating and issued a $54.00 target price on shares of Biohaven in a report on Tuesday, March 4th. Cantor Fitzgerald raised Biohaven to a “strong-buy” rating in a report on Tuesday. JPMorgan Chase & Co. dropped 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. Royal Bank of Canada reduced their target price on shares of Biohaven from $61.00 to $54.00 and set an “outperform” rating on the stock in a research report on Tuesday. Finally, Robert W. Baird lowered their price target on shares of Biohaven from $60.00 to $57.00 and set an “outperform” rating for the company in a research report on Monday, April 28th. Thirteen analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $62.00.

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.