Charles Schwab Investment Management Inc. Increases Stock Holdings in Biohaven Ltd. (NYSE:BHVN)

Charles Schwab Investment Management Inc. lifted its position in Biohaven Ltd. (NYSE:BHVN) by 10.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 701,314 shares of the company’s stock after purchasing an additional 68,624 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.69% of Biohaven worth $26,194,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of BHVN. Point72 Asset Management L.P. grew its holdings in shares of Biohaven by 745.9% in the third quarter. Point72 Asset Management L.P. now owns 1,500,284 shares of the company’s stock valued at $74,969,000 after purchasing an additional 1,322,922 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Biohaven by 563.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 508,622 shares of the company’s stock valued at $25,416,000 after purchasing an additional 431,954 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Biohaven by 85.4% in the third 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 period. Janus Henderson Group PLC lifted its position in Biohaven by 5.6% in the third quarter. Janus Henderson Group PLC now owns 6,226,393 shares of the company’s stock valued at $311,142,000 after buying an additional 328,099 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position in Biohaven by 600.9% in the third quarter. Wellington Management Group LLP now owns 243,167 shares of the company’s stock valued at $12,151,000 after buying an additional 208,472 shares during the last quarter. Hedge funds and other institutional investors own 88.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on BHVN. Royal Bank of Canada reaffirmed an “outperform” rating and set a $61.00 price objective on shares of Biohaven in a research report on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft began coverage on Biohaven in a research report on Tuesday, February 11th. They issued a “buy” rating and a $65.00 target price on the stock. HC Wainwright reissued a “buy” rating and issued a $54.00 target price on shares of Biohaven in a research report on Tuesday, March 4th. Cantor Fitzgerald reissued an “overweight” rating on shares of Biohaven in a research report on Tuesday, December 17th. Finally, JPMorgan Chase & Co. cut their target price on Biohaven from $72.00 to $68.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 5th. Fourteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $63.15.

Biohaven Trading Up 2.0 %

Biohaven stock opened at $29.73 on Tuesday. Biohaven Ltd. has a twelve month low of $26.80 and a twelve month high of $60.46. The stock’s fifty day simple moving average is $36.69 and its 200-day simple moving average is $41.94. The firm has a market capitalization of $3.03 billion, a P/E ratio of -3.18 and a beta of 1.27.

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 predict that Biohaven Ltd. will post -8.9 earnings per share for the current year.

Insider Activity 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 shares were purchased at an average price of $35.94 per share, with a total value of $1,042,260.00. Following the completion of the acquisition, the director now directly owns 2,368,741 shares of the company’s stock, valued at $85,132,551.54. This represents a 1.24 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 16.00% of the stock is currently owned by corporate insiders.

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.