BNP Paribas Financial Markets Makes New Investment in Biohaven Ltd. (NYSE:BHVN)

BNP Paribas Financial Markets bought a new stake in Biohaven Ltd. (NYSE:BHVN) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 41,762 shares of the company’s stock, valued at approximately $1,560,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Ameriprise Financial Inc. raised its holdings in Biohaven by 40.0% in the 4th quarter. Ameriprise Financial Inc. now owns 508,682 shares of the company’s stock valued at $18,994,000 after acquiring an additional 145,331 shares during the period. Alyeska Investment Group L.P. boosted its position in shares of Biohaven by 129.4% during the 4th quarter. Alyeska Investment Group L.P. now owns 106,351 shares of the company’s stock worth $3,972,000 after acquiring an additional 60,000 shares in the last quarter. Bison Wealth LLC boosted its position in shares of Biohaven by 0.4% during the 4th quarter. Bison Wealth LLC now owns 332,428 shares of the company’s stock worth $12,416,000 after acquiring an additional 1,440 shares in the last quarter. Emerald Mutual Fund Advisers Trust acquired a new stake in shares of Biohaven during the 4th quarter worth approximately $8,456,000. Finally, Northern Trust Corp boosted its position in Biohaven by 19.9% in the fourth quarter. Northern Trust Corp now owns 811,155 shares of the company’s stock valued at $30,297,000 after buying an additional 134,879 shares in the last quarter. 88.78% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director John W. Childs acquired 32,700 shares of Biohaven stock in a transaction dated Tuesday, March 4th. The shares were purchased at an average price of $30.47 per share, for a total transaction of $996,369.00. Following the completion of the transaction, the director now directly owns 2,320,571 shares in the company, valued at approximately $70,707,798.37. This represents a 1.43% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 16.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

BHVN has been the subject of several analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $54.00 price target on shares of Biohaven in a research note on Tuesday, March 4th. William Blair raised shares of Biohaven to a “strong-buy” rating in a research note on Thursday, April 24th. Royal Bank of Canada reduced their price target on shares of Biohaven from $61.00 to $54.00 and set an “outperform” rating for the company in a report on Tuesday, May 13th. Morgan Stanley reduced their price objective on shares of Biohaven from $69.00 to $63.00 and set an “overweight” rating for the company in a report on Friday, March 7th. Finally, Cantor Fitzgerald upgraded shares of Biohaven to a “strong-buy” rating in a report on Tuesday, May 13th. Thirteen equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $62.00.

Biohaven Stock Performance

NYSE:BHVN opened at $16.07 on Monday. The firm has a market cap of $1.64 billion, a P/E ratio of -1.72 and a beta of 1.18. Biohaven Ltd. has a fifty-two week low of $14.69 and a fifty-two week high of $55.70. The firm has a 50-day simple moving average of $22.31 and a two-hundred day simple moving average of $34.09.

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

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.