Stifel Financial Corp Increases Stock Position in Biohaven Ltd. (NYSE:BHVN)

by · The Markets Daily

Stifel Financial Corp boosted its holdings in Biohaven Ltd. (NYSE:BHVN – Free Report) by 0.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,559,313 shares of the company’s stock after buying an additional 50,052 shares during the period. Stifel Financial Corp owned approximately 6.49% of Biohaven worth $244,990,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of BHVN. Teacher Retirement System of Texas boosted its position in shares of Biohaven by 31.6% in the fourth quarter. Teacher Retirement System of Texas now owns 23,320 shares of the company’s stock valued at $871,000 after acquiring an additional 5,600 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Biohaven by 9.1% in the fourth quarter. Bank of New York Mellon Corp now owns 295,078 shares of the company’s stock worth $11,021,000 after purchasing an additional 24,703 shares during the period. JPMorgan Chase & Co. raised its position in shares of Biohaven by 85.4% in the third quarter. JPMorgan Chase & Co. now owns 809,448 shares of the company’s stock worth $40,448,000 after buying an additional 372,737 shares in the last quarter. American Century Companies Inc. boosted its stake in Biohaven by 9.5% during the fourth quarter. American Century Companies Inc. now owns 558,761 shares of the company’s stock valued at $20,870,000 after buying an additional 48,286 shares during the period. Finally, Alliancebernstein L.P. grew its position in Biohaven by 6.6% during the fourth quarter. Alliancebernstein L.P. now owns 96,236 shares of the company’s stock worth $3,594,000 after buying an additional 5,951 shares in the last quarter. Institutional investors own 88.78% of the company’s stock.

Analyst Upgrades and Downgrades

BHVN has been the subject of several research analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $54.00 price target on shares of Biohaven in a research note on Tuesday, March 4th. Morgan Stanley cut their target price on Biohaven from $69.00 to $63.00 and set an “overweight” rating for the company in a research note on Friday, March 7th. Deutsche Bank Aktiengesellschaft set a $60.00 price objective on shares of Biohaven and gave the stock a “buy” rating in a report on Thursday, March 20th. JPMorgan Chase & Co. decreased their target price on shares of Biohaven from $72.00 to $68.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 5th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $61.00 price target on shares of Biohaven in a research report on Tuesday, March 4th. Fourteen 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 target price of $62.77.

Get Our Latest Analysis on Biohaven

Biohaven Stock Performance

Shares of Biohaven stock opened at $20.41 on Monday. The company has a 50-day simple moving average of $28.43 and a two-hundred day simple moving average of $38.46. Biohaven Ltd. has a 52-week low of $15.79 and a 52-week high of $55.70. The stock has a market capitalization of $2.08 billion, a PE ratio of -2.18 and a beta of 1.33.

Biohaven (NYSE:BHVN – Get Free Report) last announced its quarterly earnings data on Monday, March 3rd. The company reported ($1.85) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.56) by ($0.29). As a group, equities research analysts forecast that Biohaven Ltd. will post -8.9 EPS for the current fiscal year.

Insider Activity

In related news, Director John W. Childs acquired 32,700 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were bought at an average price of $30.47 per share, for a total transaction of $996,369.00. Following the completion of the transaction, the director now directly owns 2,320,571 shares in the company, valued at approximately $70,707,798.37. This trade represents a 1.43 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 16.00% of the company’s stock.

Biohaven Profile

(Free Report)

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.

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