Geode Capital Management LLC Buys 44,174 Shares of Biohaven Ltd. (NYSE:BHVN)

Geode Capital Management LLC lifted its stake in shares of Biohaven Ltd. (NYSE:BHVN) by 2.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,714,612 shares of the company’s stock after acquiring an additional 44,174 shares during the period. Geode Capital Management LLC owned approximately 1.70% of Biohaven worth $85,696,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. nVerses Capital LLC acquired a new position in Biohaven in the 3rd quarter worth $50,000. Redwood Wealth Management Group LLC bought a new position in shares of Biohaven during the second quarter worth about $61,000. Values First Advisors Inc. acquired a new stake in Biohaven in the 3rd quarter valued at approximately $78,000. US Bancorp DE raised its position in Biohaven by 57.1% in the 3rd quarter. US Bancorp DE now owns 2,173 shares of the company’s stock valued at $109,000 after buying an additional 790 shares during the last quarter. Finally, KBC Group NV lifted its stake in Biohaven by 24.5% in the 3rd quarter. KBC Group NV now owns 2,250 shares of the company’s stock valued at $112,000 after acquiring an additional 443 shares in the last quarter. 88.78% of the stock is currently owned by institutional investors and hedge funds.

Biohaven Price Performance

Shares of Biohaven stock opened at $35.34 on Friday. Biohaven Ltd. has a 1 year low of $26.80 and a 1 year high of $62.21. The company has a market capitalization of $3.57 billion, a price-to-earnings ratio of -3.78 and a beta of 1.24. The business has a fifty day simple moving average of $47.88 and a two-hundred day simple moving average of $41.86.

Biohaven (NYSE:BHVN) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($1.70) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.67) by ($0.03). As a group, equities analysts anticipate that Biohaven Ltd. will post -8.85 earnings per share for the current fiscal year.

Insider Activity at Biohaven

In other news, Director Gregory Bailey purchased 5,000 shares of Biohaven stock in a transaction that occurred on Tuesday, September 24th. The shares were acquired at an average price of $44.19 per share, for a total transaction of $220,950.00. Following the transaction, the director now owns 1,620,071 shares of the company’s stock, valued at approximately $71,590,937.49. The trade was a 0.31 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director John W. Childs acquired 21,052 shares of the stock in a transaction on Wednesday, October 2nd. The shares were purchased at an average price of $47.50 per share, with a total value of $999,970.00. Following the completion of the transaction, the director now owns 21,052 shares of the company’s stock, valued at approximately $999,970. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 16.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on BHVN shares. Jefferies Financial Group began coverage on shares of Biohaven in a report on Monday, September 16th. They issued a “buy” rating and a $57.00 price objective on the stock. Sanford C. Bernstein boosted their price target on shares of Biohaven from $55.00 to $66.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 24th. Bank of America raised their price objective on Biohaven from $52.00 to $62.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. Piper Sandler increased their price target on Biohaven from $66.00 to $76.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Finally, TD Cowen raised their price target on Biohaven from $55.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Thirteen 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.com, the company presently has an average rating of “Buy” and an average price target of $63.00.

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.