Xponance Inc. Boosts Stock Position in Biohaven Ltd. (NYSE:BHVN)

Xponance Inc. lifted its position in shares of Biohaven Ltd. (NYSE:BHVN) by 25.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 6,148 shares of the company’s stock after purchasing an additional 1,263 shares during the quarter. Xponance Inc.’s holdings in Biohaven were worth $230,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Intech Investment Management LLC purchased a new position in shares of Biohaven during the third quarter worth approximately $565,000. Charles Schwab Investment Management Inc. lifted its stake in Biohaven by 5.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 632,690 shares of the company’s stock worth $31,616,000 after purchasing an additional 32,769 shares during the last quarter. Citigroup Inc. boosted its position in Biohaven by 125.8% during the third quarter. Citigroup Inc. now owns 119,905 shares of the company’s stock valued at $5,992,000 after buying an additional 66,801 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Biohaven by 4.8% during the third quarter. The Manufacturers Life Insurance Company now owns 192,677 shares of the company’s stock valued at $9,628,000 after buying an additional 8,905 shares during the last quarter. Finally, D.A. Davidson & CO. bought a new stake in shares of Biohaven in the 3rd quarter valued at about $1,195,000. Institutional investors own 88.78% of the company’s stock.

Insider Transactions at Biohaven

In other Biohaven news, Director John W. Childs purchased 32,700 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was bought at an average cost of $30.47 per share, with a total value of $996,369.00. Following the transaction, the director now directly owns 2,320,571 shares in the company, valued at approximately $70,707,798.37. The trade was a 1.43 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 16.00% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on BHVN shares. JPMorgan Chase & Co. reduced their price target on Biohaven from $72.00 to $68.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 5th. Morgan Stanley lowered their price target on shares of Biohaven from $69.00 to $63.00 and set an “overweight” rating for the company in a report on Friday, March 7th. HC Wainwright reissued a “buy” rating and issued a $54.00 price target on shares of Biohaven in a report on Tuesday, March 4th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $61.00 price objective on shares of Biohaven in a research note on Tuesday, March 4th. Finally, Deutsche Bank Aktiengesellschaft set a $60.00 target price on Biohaven and gave the stock a “buy” rating in a research note on Thursday, March 20th. Fourteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $62.77.

Biohaven Stock Performance

Biohaven stock opened at $27.59 on Friday. Biohaven Ltd. has a fifty-two week low of $26.57 and a fifty-two week high of $55.72. The stock’s 50 day simple moving average is $35.15 and its two-hundred day simple moving average is $41.32. The stock has a market cap of $2.82 billion, a price-to-earnings ratio of -2.95 and a beta of 1.27.

Biohaven (NYSE:BHVN) last released its quarterly earnings results on Monday, March 3rd. The company reported ($1.85) earnings per share for the quarter, missing the consensus estimate of ($1.56) by ($0.29). On average, analysts predict that Biohaven Ltd. will post -8.9 earnings per share for the current year.

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.