Rhumbline Advisers Raises Stock Position in Biohaven Ltd. (NYSE:BHVN)

Rhumbline Advisers boosted its position in shares of Biohaven Ltd. (NYSE:BHVN) by 14.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 117,595 shares of the company’s stock after acquiring an additional 14,407 shares during the period. Rhumbline Advisers owned 0.12% of Biohaven worth $4,392,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of BHVN. SpiderRock Advisors LLC purchased a new stake in shares of Biohaven in the 3rd quarter valued at $620,000. Citigroup Inc. increased its stake in shares of Biohaven by 125.8% in the 3rd quarter. Citigroup Inc. now owns 119,905 shares of the company’s stock worth $5,992,000 after acquiring an additional 66,801 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in Biohaven during the 3rd quarter valued at about $1,339,000. JPMorgan Chase & Co. grew its position in Biohaven by 85.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 809,448 shares of the company’s stock valued at $40,448,000 after purchasing an additional 372,737 shares during the last quarter. Finally, XTX Topco Ltd grew its position in Biohaven by 278.5% during the 3rd quarter. XTX Topco Ltd now owns 32,510 shares of the company’s stock valued at $1,625,000 after purchasing an additional 23,921 shares during the last quarter. Hedge funds and other institutional investors own 88.78% of the company’s stock.

Biohaven Stock Performance

BHVN opened at $37.09 on Friday. The business’s fifty day moving average is $38.23 and its two-hundred day moving average is $42.71. The company has a market cap of $3.75 billion, a price-to-earnings ratio of -3.97 and a beta of 1.28. Biohaven Ltd. has a one year low of $26.80 and a one year high of $62.21.

Insider Transactions at Biohaven

In other Biohaven news, Director John W. Childs bought 29,000 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The stock was purchased at an average cost of $35.94 per share, for a total transaction of $1,042,260.00. Following the completion of the purchase, the director now owns 2,368,741 shares of the company’s stock, valued at $85,132,551.54. This trade represents a 1.24 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 16.00% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. HC Wainwright reaffirmed a “buy” rating and set a $59.00 price target on shares of Biohaven in a report on Tuesday, December 17th. Cantor Fitzgerald restated an “overweight” rating on shares of Biohaven in a research note on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Biohaven in a research report on Tuesday, February 11th. They set a “buy” rating and a $65.00 price objective on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $61.00 target price (up from $58.00) on shares of Biohaven in a report on Wednesday, December 4th. Finally, TD Cowen lifted their price objective on shares of Biohaven from $55.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Fourteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $63.15.

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.