Handelsbanken Fonder AB Raises Stock Holdings in Biohaven Ltd. (NYSE:BHVN)

Handelsbanken Fonder AB boosted its stake in Biohaven Ltd. (NYSE:BHVN) by 20.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 25,000 shares of the company’s stock after buying an additional 4,300 shares during the period. Handelsbanken Fonder AB’s holdings in Biohaven were worth $934,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Stifel Financial Corp raised its holdings in Biohaven by 0.4% in the 3rd quarter. Stifel Financial Corp now owns 6,509,261 shares of the company’s stock valued at $325,268,000 after buying an additional 28,684 shares during the period. Janus Henderson Group PLC raised its holdings in Biohaven by 5.6% in the 3rd quarter. Janus Henderson Group PLC now owns 6,226,393 shares of the company’s stock valued at $311,142,000 after buying an additional 328,099 shares during the period. Geode Capital Management LLC raised its holdings in Biohaven by 2.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,714,612 shares of the company’s stock valued at $85,696,000 after buying an additional 44,174 shares during the period. Point72 Asset Management L.P. grew its position in 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 acquiring an additional 1,322,922 shares in the last quarter. Finally, ARS Investment Partners LLC grew its position in Biohaven by 1.0% in the 4th quarter. ARS Investment Partners LLC now owns 1,040,712 shares of the company’s stock valued at $38,871,000 after acquiring an additional 10,473 shares in the last quarter. 88.78% of the stock is currently owned by hedge funds and other institutional investors.

Biohaven Stock Down 1.7 %

Shares of BHVN opened at $36.56 on Friday. The stock has a 50 day moving average price of $38.23 and a 200 day moving average price of $42.71. The company has a market capitalization of $3.70 billion, a price-to-earnings ratio of -3.91 and a beta of 1.28. Biohaven Ltd. has a 52-week low of $26.80 and a 52-week high of $62.21.

Insider Activity at Biohaven

In other news, Director John W. Childs acquired 29,000 shares of Biohaven stock in a transaction on Monday, December 30th. The stock was bought at an average price of $35.94 per share, for a total transaction of $1,042,260.00. Following the completion of the purchase, the director now owns 2,368,741 shares in the company, valued at $85,132,551.54. This represents a 1.24 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 16.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

BHVN has been the subject of several research reports. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Biohaven in a research report on Tuesday, December 17th. TD Cowen lifted their target price on Biohaven from $55.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft began coverage on Biohaven in a research report on Tuesday, February 11th. They issued a “buy” rating and a $65.00 target price for the company. Royal Bank of Canada reissued 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. Finally, HC Wainwright reissued a “buy” rating and set a $59.00 price objective on shares of Biohaven in a research report on Tuesday, December 17th. Fourteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Biohaven has a consensus rating of “Buy” and an average target price of $63.15.

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.