Biohaven Ltd. (NYSE:BHVN) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp increased its stake in Biohaven Ltd. (NYSE:BHVN) by 9.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 295,078 shares of the company’s stock after acquiring an additional 24,703 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.29% of Biohaven worth $11,021,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of BHVN. Franklin Resources Inc. boosted its position in shares of Biohaven by 0.5% in the 3rd quarter. Franklin Resources Inc. now owns 79,705 shares of the company’s stock valued at $4,206,000 after purchasing an additional 412 shares during the period. KBC Group NV lifted its stake in Biohaven by 24.5% during the third quarter. KBC Group NV now owns 2,250 shares of the company’s stock valued at $112,000 after buying an additional 443 shares in the last quarter. Venturi Wealth Management LLC boosted its holdings in shares of Biohaven by 19.1% in the third quarter. Venturi Wealth Management LLC now owns 3,117 shares of the company’s stock worth $156,000 after buying an additional 500 shares during the period. FSC Wealth Advisors LLC boosted its holdings in shares of Biohaven by 3.3% in the fourth quarter. FSC Wealth Advisors LLC now owns 15,500 shares of the company’s stock worth $579,000 after buying an additional 500 shares during the period. Finally, US Bancorp DE increased its position in shares of Biohaven by 57.1% in the third quarter. US Bancorp DE now owns 2,173 shares of the company’s stock worth $109,000 after acquiring an additional 790 shares in the last quarter. 88.78% of the stock is currently owned by institutional investors and hedge funds.

Biohaven Stock Performance

Shares of BHVN opened at $28.17 on Friday. The firm has a market cap of $2.87 billion, a PE ratio of -3.01 and a beta of 1.27. The firm’s 50 day moving average price is $37.24 and its 200 day moving average price is $42.18. Biohaven Ltd. has a twelve month low of $26.80 and a twelve month high of $60.46.

Biohaven (NYSE:BHVN) last released its quarterly earnings results 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). On average, sell-side analysts anticipate that Biohaven Ltd. will post -8.9 earnings per share for the current fiscal year.

Insider Buying and Selling at Biohaven

In related news, Director John W. Childs purchased 29,000 shares of the stock in a transaction on Monday, December 30th. The shares were bought at an average price of $35.94 per share, for a total transaction of $1,042,260.00. Following the completion of the acquisition, the director now directly owns 2,368,741 shares in the company, valued at approximately $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 accessible through this hyperlink. Corporate insiders own 16.00% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Biohaven in a research note on Tuesday, February 11th. They issued a “buy” rating and a $65.00 price objective for the company. JPMorgan Chase & Co. reduced their target price on Biohaven from $72.00 to $68.00 and set an “overweight” rating for the company in a report on Wednesday, March 5th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Biohaven in a report on Tuesday, December 17th. Royal Bank of Canada reissued an “outperform” rating and set a $61.00 price target on shares of Biohaven in a research report on Tuesday, March 4th. Finally, HC Wainwright restated a “buy” rating and set a $54.00 price objective on shares of Biohaven in a research report on Tuesday, March 4th. Fourteen investment 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 company has an average rating of “Buy” and a consensus target price of $63.15.

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.