Norges Bank Invests $33.71 Million in Biohaven Ltd. (NYSE:BHVN)

Norges Bank bought a new stake in shares of Biohaven Ltd. (NYSE:BHVN) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 902,565 shares of the company’s stock, valued at approximately $33,711,000. Norges Bank owned 0.89% of Biohaven at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Spire Wealth Management purchased a new stake in shares of Biohaven during the fourth quarter valued at approximately $56,000. Amalgamated Bank raised its holdings in Biohaven by 21.9% during the 4th quarter. Amalgamated Bank now owns 2,929 shares of the company’s stock valued at $109,000 after buying an additional 527 shares during the last quarter. US Bancorp DE boosted its position in Biohaven by 36.7% during the 4th quarter. US Bancorp DE now owns 2,971 shares of the company’s stock valued at $111,000 after buying an additional 798 shares during the period. KBC Group NV grew its holdings in Biohaven by 50.1% in the 4th quarter. KBC Group NV now owns 3,377 shares of the company’s stock worth $126,000 after acquiring an additional 1,127 shares during the last quarter. Finally, Diversified Trust Co increased its position in shares of Biohaven by 16.6% in the fourth quarter. Diversified Trust Co now owns 5,585 shares of the company’s stock valued at $209,000 after acquiring an additional 795 shares during the period. 88.78% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

BHVN has been the topic of several recent analyst reports. Morgan Stanley cut their target price on Biohaven from $69.00 to $63.00 and set an “overweight” rating on the stock in a research note on Friday, March 7th. HC Wainwright reiterated a “buy” rating and issued a $54.00 price objective on shares of Biohaven in a research report on Tuesday, March 4th. Royal Bank of Canada restated an “outperform” rating and set a $61.00 target price on shares of Biohaven in a report on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft set a $60.00 price target on shares of Biohaven and gave the company a “buy” rating in a report on Thursday, March 20th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Biohaven from $72.00 to $68.00 and set an “overweight” rating for the company in a report on Wednesday, March 5th. Fourteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $62.77.

Insider Activity

In other news, Director John W. Childs acquired 32,700 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The shares were bought at an average cost of $30.47 per share, with a total value of $996,369.00. Following the transaction, the director now owns 2,320,571 shares of the company’s stock, valued at $70,707,798.37. This trade represents a 1.43 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 16.00% of the company’s stock.

Biohaven Stock Performance

Shares of NYSE BHVN opened at $18.54 on Friday. The company has a 50 day simple moving average of $33.40 and a two-hundred day simple moving average of $40.81. Biohaven Ltd. has a fifty-two week low of $17.93 and a fifty-two week high of $55.70. The company has a market capitalization of $1.89 billion, a price-to-earnings ratio of -1.98 and a beta of 1.33.

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). On average, analysts forecast that Biohaven Ltd. will post -8.9 earnings per share for the current fiscal 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.