Teacher Retirement System of Texas Raises Holdings in Biohaven Ltd. (NYSE:BHVN)

Teacher Retirement System of Texas boosted its stake in shares of Biohaven Ltd. (NYSE:BHVN) by 31.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,320 shares of the company’s stock after acquiring an additional 5,600 shares during the quarter. Teacher Retirement System of Texas’ holdings in Biohaven were worth $871,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Point72 Asset Management L.P. boosted its stake in shares of Biohaven by 745.9% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,500,284 shares of the company’s stock worth $74,969,000 after acquiring an additional 1,322,922 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Biohaven by 563.4% in the third 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 purchasing an additional 431,954 shares during the period. JPMorgan Chase & Co. increased its position in shares of Biohaven by 85.4% in the third quarter. JPMorgan Chase & Co. now owns 809,448 shares of the company’s stock valued at $40,448,000 after buying an additional 372,737 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of Biohaven by 5.6% during the 3rd quarter. Janus Henderson Group PLC now owns 6,226,393 shares of the company’s stock worth $311,142,000 after buying an additional 328,099 shares during the period. Finally, Wellington Management Group LLP lifted its position in shares of Biohaven by 600.9% during the 3rd quarter. Wellington Management Group LLP now owns 243,167 shares of the company’s stock valued at $12,151,000 after buying an additional 208,472 shares in the last quarter. 88.78% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on BHVN shares. Royal Bank of Canada reissued an “outperform” rating and issued a $61.00 price target on shares of Biohaven in a report on Tuesday, March 4th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Biohaven in a report on Tuesday, December 17th. JPMorgan Chase & Co. cut their price objective on Biohaven from $72.00 to $68.00 and set an “overweight” rating for the company in a research note on Wednesday, March 5th. Morgan Stanley decreased their target price on Biohaven from $69.00 to $63.00 and set an “overweight” rating on the stock in a research report on Friday, March 7th. Finally, Deutsche Bank Aktiengesellschaft set a $60.00 price target on Biohaven and gave the stock a “buy” rating in a research report on Thursday, March 20th. Fourteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $62.77.

Biohaven Price Performance

Biohaven stock opened at $27.59 on Friday. The firm has a 50 day simple moving average of $35.15 and a 200-day simple moving average of $41.36. The stock has a market cap of $2.82 billion, a price-to-earnings ratio of -2.95 and a beta of 1.27. Biohaven Ltd. has a 1-year low of $26.57 and a 1-year high of $55.72.

Biohaven (NYSE:BHVN) last issued 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). Equities analysts expect that Biohaven Ltd. will post -8.9 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director John W. Childs acquired 29,000 shares of the firm’s stock in a transaction dated Monday, December 30th. The shares were purchased at an average cost of $35.94 per share, for a total transaction of $1,042,260.00. Following the acquisition, the director now owns 2,368,741 shares in the company, valued at $85,132,551.54. The trade was a 1.24 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 16.00% of the company’s stock.

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.