Xponance Inc. Increases Stock Position in Biohaven Ltd. (NYSE:BHVN)

Xponance Inc. increased its position in shares of Biohaven Ltd. (NYSE:BHVN) by 25.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,148 shares of the company’s stock after purchasing an additional 1,263 shares during the quarter. Xponance Inc.’s holdings in Biohaven were worth $230,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in BHVN. Spire Wealth Management purchased a new position in shares of Biohaven in the 4th quarter worth approximately $56,000. Amalgamated Bank boosted its position in Biohaven by 21.9% in the fourth quarter. Amalgamated Bank now owns 2,929 shares of the company’s stock worth $109,000 after purchasing an additional 527 shares during the last quarter. US Bancorp DE boosted its position in Biohaven by 36.7% in the fourth quarter. US Bancorp DE now owns 2,971 shares of the company’s stock worth $111,000 after purchasing an additional 798 shares during the last quarter. KBC Group NV grew its stake in Biohaven by 50.1% in the 4th quarter. KBC Group NV now owns 3,377 shares of the company’s stock valued at $126,000 after purchasing an additional 1,127 shares during the period. Finally, Capstone Investment Advisors LLC purchased a new stake in shares of Biohaven during the 3rd quarter valued at $250,000. 88.78% of the stock is owned by institutional investors.

Biohaven Trading Down 2.8 %

Shares of NYSE:BHVN opened at $27.59 on Friday. The company has a 50 day moving average of $35.15 and a 200 day moving average of $41.32. The stock has a market cap of $2.82 billion, a P/E ratio of -2.95 and a beta of 1.27. Biohaven Ltd. has a 12 month low of $26.57 and a 12 month high of $55.72.

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

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft set a $60.00 price target on shares of Biohaven and gave the company a “buy” rating in a research report on Thursday, March 20th. HC Wainwright reissued a “buy” rating and set a $54.00 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. Morgan Stanley reduced their price objective on Biohaven from $69.00 to $63.00 and set an “overweight” rating for the company in a report on Friday, March 7th. Finally, JPMorgan Chase & Co. dropped their price target on Biohaven from $72.00 to $68.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 5th. Fourteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $62.77.

Insider Buying and Selling

In related news, Director John W. Childs bought 29,000 shares of the company’s stock in a transaction on Monday, December 30th. The stock was acquired at an average cost of $35.94 per share, for a total transaction of $1,042,260.00. Following the completion of the transaction, the director now directly owns 2,368,741 shares in the company, valued at $85,132,551.54. This trade represents a 1.24 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 16.00% of the stock is owned by company insiders.

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.