Corebridge Financial Inc. Acquires 2,552 Shares of Biohaven Ltd. (NYSE:BHVN)

Corebridge Financial Inc. increased its stake in Biohaven Ltd. (NYSE:BHVN) by 6.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,701 shares of the company’s stock after acquiring an additional 2,552 shares during the quarter. Corebridge Financial Inc.’s holdings in Biohaven were worth $1,595,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. HighTower Advisors LLC grew its holdings in Biohaven by 6.1% in the fourth quarter. HighTower Advisors LLC now owns 5,870 shares of the company’s stock worth $219,000 after purchasing an additional 335 shares during the period. Franklin Resources Inc. grew its stake 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 buying an additional 412 shares during the period. FSC Wealth Advisors LLC increased its position in Biohaven by 3.3% in the 4th quarter. FSC Wealth Advisors LLC now owns 15,500 shares of the company’s stock valued at $579,000 after buying an additional 500 shares in the last quarter. Amalgamated Bank raised its stake in Biohaven by 21.9% during the 4th quarter. Amalgamated Bank now owns 2,929 shares of the company’s stock worth $109,000 after buying an additional 527 shares during the period. Finally, E Fund Management Co. Ltd. boosted its holdings in Biohaven by 8.8% in the fourth quarter. E Fund Management Co. Ltd. now owns 9,613 shares of the company’s stock worth $359,000 after acquiring an additional 775 shares in the last quarter. Institutional investors own 88.78% of the company’s stock.

Insider Buying and Selling at Biohaven

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

Analysts Set New Price Targets

Several equities research analysts have recently commented on BHVN shares. 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. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Biohaven in a research note on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft set a $60.00 target price on shares of Biohaven and gave the stock a “buy” rating in a research report on Thursday, March 20th. JPMorgan Chase & Co. dropped their price target on shares of Biohaven from $72.00 to $68.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 5th. Finally, Morgan Stanley decreased their price objective on Biohaven from $69.00 to $63.00 and set an “overweight” rating for the company in a report on Friday, March 7th. Fourteen research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Biohaven presently has a consensus rating of “Buy” and a consensus target price of $62.77.

Biohaven Trading Up 4.7 %

BHVN stock opened at $23.67 on Thursday. Biohaven Ltd. has a 1-year low of $21.47 and a 1-year high of $55.72. The stock has a market cap of $2.42 billion, a P/E ratio of -2.53 and a beta of 1.27. The stock’s fifty day simple moving average is $34.21 and its two-hundred day simple moving average is $41.09.

Biohaven (NYSE:BHVN) last issued 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). As a group, analysts forecast that Biohaven Ltd. will post -8.9 earnings per share for the current fiscal year.

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.