Biohaven Ltd. (NYSE:BHVN) Shares Purchased by Invesco Ltd.

Invesco Ltd. increased its stake in Biohaven Ltd. (NYSE:BHVN) by 6.2% in the 4th quarter, Holdings Channel.com reports. The fund owned 51,814 shares of the company’s stock after acquiring an additional 3,016 shares during the quarter. Invesco Ltd.’s holdings in Biohaven were worth $1,935,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake 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 in the last quarter. JPMorgan Chase & Co. increased its stake in Biohaven by 144.5% during the 4th quarter. JPMorgan Chase & Co. now owns 1,979,169 shares of the company’s stock worth $73,922,000 after buying an additional 1,169,721 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Biohaven by 11.1% during the fourth quarter. Geode Capital Management LLC now owns 1,905,366 shares of the company’s stock valued at $71,182,000 after acquiring an additional 190,754 shares during the last quarter. ARS Investment Partners LLC lifted its position in shares of Biohaven by 1.0% in the fourth quarter. ARS Investment Partners LLC now owns 1,040,712 shares of the company’s stock valued at $38,871,000 after acquiring an additional 10,473 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Biohaven in the fourth quarter worth approximately $33,711,000. 88.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on BHVN. Deutsche Bank Aktiengesellschaft set a $60.00 price objective on Biohaven and gave the company a “buy” rating in a report on Thursday, March 20th. Robert W. Baird lowered their price target on shares of Biohaven from $60.00 to $57.00 and set an “outperform” rating on the stock in a research report on Monday. JPMorgan Chase & Co. cut 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. William Blair upgraded Biohaven to a “strong-buy” rating in a report on Thursday, April 24th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $54.00 price target on shares of Biohaven in a report on Tuesday, March 4th. 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, the stock has a consensus rating of “Buy” and an average target price of $62.54.

Biohaven Price Performance

Shares of BHVN stock opened at $21.89 on Wednesday. Biohaven Ltd. has a 1-year low of $15.79 and a 1-year high of $55.70. The firm has a market cap of $2.23 billion, a PE ratio of -2.34 and a beta of 1.33. The company has a 50-day moving average of $25.73 and a two-hundred day moving average of $37.08.

Biohaven (NYSE:BHVN) last posted its quarterly earnings data 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). Sell-side analysts anticipate that Biohaven Ltd. will post -8.9 EPS for the current fiscal year.

Insider Activity

In other Biohaven news, Director John W. Childs bought 32,700 shares of Biohaven stock in a transaction on Tuesday, March 4th. The shares were bought at an average cost of $30.47 per share, for a total transaction of $996,369.00. Following the acquisition, the director now directly owns 2,320,571 shares in the company, valued at $70,707,798.37. This represents a 1.43 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 16.00% of the company’s stock.

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.