Principal Financial Group Inc. Buys 3,281 Shares of Biohaven Ltd. (NYSE:BHVN)

Principal Financial Group Inc. boosted its holdings in shares of Biohaven Ltd. (NYSE:BHVN) by 4.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 77,387 shares of the company’s stock after purchasing an additional 3,281 shares during the quarter. Principal Financial Group Inc. owned about 0.08% of Biohaven worth $2,890,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Spire Wealth Management purchased a new position in Biohaven during the 4th quarter valued at approximately $56,000. US Bancorp DE raised its position in Biohaven by 57.1% during the 3rd quarter. US Bancorp DE now owns 2,173 shares of the company’s stock valued at $109,000 after purchasing an additional 790 shares in the last quarter. KBC Group NV raised its position in shares of Biohaven by 24.5% in the 3rd quarter. KBC Group NV now owns 2,250 shares of the company’s stock worth $112,000 after acquiring an additional 443 shares in the last quarter. Venturi Wealth Management LLC raised its position in shares of Biohaven by 19.1% in the 3rd quarter. Venturi Wealth Management LLC now owns 3,117 shares of the company’s stock worth $156,000 after acquiring an additional 500 shares in the last quarter. Finally, Diversified Trust Co increased its position in Biohaven by 16.6% during the 4th quarter. Diversified Trust Co now owns 5,585 shares of the company’s stock valued at $209,000 after buying an additional 795 shares in the last quarter. Institutional investors own 88.78% of the company’s stock.

Biohaven Stock Performance

BHVN opened at $31.40 on Wednesday. The business’s 50-day simple moving average is $38.16 and its 200-day simple moving average is $42.71. Biohaven Ltd. has a one year low of $26.80 and a one year high of $62.21. The stock has a market capitalization of $3.18 billion, a P/E ratio of -3.36 and a beta of 1.27.

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

Insider Transactions at Biohaven

In related news, Director John W. Childs acquired 29,000 shares of the business’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 transaction, the director now directly owns 2,368,741 shares of the company’s stock, valued at approximately $85,132,551.54. This trade represents a 1.24 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 16.00% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on BHVN shares. Royal Bank of Canada reiterated an “outperform” rating and set a $61.00 price target on shares of Biohaven in a research note on Tuesday. HC Wainwright reaffirmed a “buy” rating and issued a $54.00 price target on shares of Biohaven in a report on Tuesday. Cantor Fitzgerald reissued an “overweight” rating on shares of Biohaven in a report on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft initiated coverage on Biohaven in a research report on Tuesday, February 11th. They issued a “buy” rating and a $65.00 price objective for the company. Finally, TD Cowen raised their price target on Biohaven from $55.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Fourteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $62.77.

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.