KLP Kapitalforvaltning AS Acquires Shares of 16,100 Biohaven Ltd. (NYSE:BHVN)

KLP Kapitalforvaltning AS bought a new position in Biohaven Ltd. (NYSE:BHVN) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 16,100 shares of the company’s stock, valued at approximately $601,000.

Other hedge funds have also made changes to their positions in the company. Spire Wealth Management acquired a new position in Biohaven during the 4th quarter worth $56,000. Amalgamated Bank raised its position in shares of Biohaven by 21.9% during the fourth quarter. Amalgamated Bank now owns 2,929 shares of the company’s stock worth $109,000 after acquiring an additional 527 shares during the last quarter. US Bancorp DE lifted its stake in shares of Biohaven by 36.7% during the fourth quarter. US Bancorp DE now owns 2,971 shares of the company’s stock valued at $111,000 after acquiring an additional 798 shares during the period. KBC Group NV raised its holdings in Biohaven by 50.1% during the 4th quarter. KBC Group NV now owns 3,377 shares of the company’s stock worth $126,000 after purchasing an additional 1,127 shares during the last quarter. Finally, Diversified Trust Co lifted 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 purchasing an additional 795 shares during the period. Institutional investors and hedge funds own 88.78% of the company’s stock.

Biohaven Stock Up 4.7 %

NYSE:BHVN opened at $23.67 on Thursday. The firm has a market capitalization of $2.42 billion, a P/E ratio of -2.53 and a beta of 1.27. The company has a fifty day moving average of $34.21 and a 200 day moving average of $41.09. Biohaven Ltd. has a 52 week low of $21.47 and a 52 week high of $55.72.

Biohaven (NYSE:BHVN) last announced its 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). As a group, analysts anticipate that Biohaven Ltd. will post -8.9 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Royal Bank of Canada restated an “outperform” rating and set a $61.00 price objective on shares of Biohaven in a report on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft set a $60.00 price objective on shares of Biohaven and gave the company a “buy” rating in a research report on Thursday, March 20th. Morgan Stanley reduced their target price on Biohaven from $69.00 to $63.00 and set an “overweight” rating on the stock in a report on Friday, March 7th. JPMorgan Chase & Co. decreased their target price on Biohaven from $72.00 to $68.00 and set an “overweight” rating for the company in a research note on Wednesday, March 5th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Biohaven in a research report on Tuesday, December 17th. Fourteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Biohaven currently has an average rating of “Buy” and a consensus price target of $62.77.

Insider Transactions at Biohaven

In related news, Director John W. Childs purchased 32,700 shares of the firm’s stock in a transaction on Tuesday, March 4th. The shares were acquired at an average price of $30.47 per share, for a total transaction of $996,369.00. Following the purchase, the director now directly owns 2,320,571 shares in the company, valued at $70,707,798.37. This trade represents a 1.43 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 16.00% of the company’s stock.

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.