JPMorgan Chase & Co. Acquires 372,737 Shares of Biohaven Ltd. (NYSE:BHVN)

JPMorgan Chase & Co. lifted its stake in Biohaven Ltd. (NYSE:BHVN) by 85.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 809,448 shares of the company’s stock after purchasing an additional 372,737 shares during the period. JPMorgan Chase & Co.’s holdings in Biohaven were worth $40,448,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. nVerses Capital LLC acquired a new position in Biohaven during the third quarter valued at approximately $50,000. Values First Advisors Inc. bought a new position in Biohaven during the third quarter worth about $78,000. Redwood Wealth Management Group LLC acquired a new position in Biohaven in the second quarter valued at about $61,000. US Bancorp DE increased its holdings in shares of Biohaven by 57.1% in the third quarter. US Bancorp DE now owns 2,173 shares of the company’s stock worth $109,000 after acquiring an additional 790 shares in the last quarter. Finally, KBC Group NV raised its position in shares of Biohaven by 24.5% during the third quarter. KBC Group NV now owns 2,250 shares of the company’s stock worth $112,000 after purchasing an additional 443 shares during the period. Institutional investors own 88.78% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on BHVN. TD Cowen lifted their price target on shares of Biohaven from $55.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Royal Bank of Canada restated an “outperform” rating and issued a $61.00 price target (up from $58.00) on shares of Biohaven in a report on Wednesday, December 4th. Piper Sandler lifted their target price on Biohaven from $66.00 to $76.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Leerink Partners upped their price target on Biohaven from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Monday, September 23rd. Finally, Robert W. Baird boosted their price objective on shares of Biohaven from $58.00 to $60.00 and gave the stock an “outperform” rating in a research report on Monday, September 23rd. Thirteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Biohaven has an average rating of “Buy” and a consensus price target of $63.00.

Biohaven Price Performance

Shares of BHVN stock opened at $38.64 on Monday. The company has a fifty day moving average price of $44.12 and a two-hundred day moving average price of $42.15. Biohaven Ltd. has a one year low of $26.80 and a one year high of $62.21. The stock has a market cap of $3.91 billion, a P/E ratio of -4.13 and a beta of 1.29.

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

Insider Buying and Selling at Biohaven

In related news, Director John W. Childs acquired 29,000 shares of the firm’s stock in a transaction on Monday, December 30th. The shares were purchased at an average cost of $35.94 per share, for a total transaction of $1,042,260.00. Following the completion of the acquisition, the director now directly owns 2,368,741 shares in the company, valued at approximately $85,132,551.54. This trade represents a 1.24 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 16.00% of the company’s stock.

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.