Spire Wealth Management Acquires Shares of 1,500 Biohaven Ltd. (NYSE:BHVN)

Spire Wealth Management bought a new position in shares of Biohaven Ltd. (NYSE:BHVN) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,500 shares of the company’s stock, valued at approximately $56,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BHVN. Point72 Asset Management L.P. raised its position in shares of Biohaven by 745.9% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,500,284 shares of the company’s stock valued at $74,969,000 after buying an additional 1,322,922 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Biohaven by 563.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 508,622 shares of the company’s stock valued at $25,416,000 after purchasing an additional 431,954 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Biohaven by 85.4% during the third quarter. JPMorgan Chase & Co. now owns 809,448 shares of the company’s stock worth $40,448,000 after purchasing an additional 372,737 shares during the last quarter. Janus Henderson Group PLC lifted its stake in Biohaven by 5.6% during the third quarter. Janus Henderson Group PLC now owns 6,226,393 shares of the company’s stock worth $311,142,000 after purchasing an additional 328,099 shares during the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of Biohaven by 600.9% in the 3rd quarter. Wellington Management Group LLP now owns 243,167 shares of the company’s stock valued at $12,151,000 after purchasing an additional 208,472 shares in the last quarter. 88.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BHVN has been the subject of several recent analyst reports. HC Wainwright restated a “buy” rating and set a $59.00 price objective on shares of Biohaven in a research report on Tuesday, December 17th. Cantor Fitzgerald reissued an “overweight” rating on shares of Biohaven in a report on Tuesday, December 17th. TD Cowen raised 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. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $61.00 price objective (up from $58.00) on shares of Biohaven in a research report on Wednesday, December 4th. Thirteen research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $63.00.

Biohaven Stock Performance

Shares of NYSE:BHVN opened at $38.40 on Monday. Biohaven Ltd. has a 52 week low of $26.80 and a 52 week high of $62.21. The firm has a market cap of $3.88 billion, a PE ratio of -4.11 and a beta of 1.28. The firm’s fifty day moving average is $38.90 and its 200-day moving average is $42.64.

Biohaven (NYSE:BHVN) last announced its earnings results on Tuesday, November 12th. The company reported ($1.70) EPS for the quarter, missing the consensus estimate of ($1.67) by ($0.03). Sell-side analysts forecast that Biohaven Ltd. will post -8.9 EPS for the current year.

Insiders Place Their Bets

In other Biohaven news, Director John W. Childs bought 29,000 shares of the stock in a transaction on Monday, December 30th. The stock was acquired 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 owns 2,368,741 shares in the company, valued at $85,132,551.54. This trade represents a 1.24 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Company 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.