Ameriprise Financial Inc. Purchases 145,331 Shares of Biohaven Ltd. (NYSE:BHVN)

Ameriprise Financial Inc. boosted its holdings in shares of Biohaven Ltd. (NYSE:BHVN - Free Report) by 40.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 508,682 shares of the company's stock after buying an additional 145,331 shares during the period. Ameriprise Financial Inc. owned about 0.50% of Biohaven worth $18,994,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Teacher Retirement System of Texas lifted its holdings in shares of Biohaven by 31.6% during the 4th quarter. Teacher Retirement System of Texas now owns 23,320 shares of the company's stock worth $871,000 after acquiring an additional 5,600 shares during the period. Bank of New York Mellon Corp lifted its stake in Biohaven by 9.1% during 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. American Century Companies Inc. lifted 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 worth $20,870,000 after purchasing an additional 48,286 shares during the period. Alliancebernstein L.P. boosted its holdings in Biohaven by 6.6% during the fourth quarter. Alliancebernstein L.P. now owns 96,236 shares of the company's stock valued at $3,594,000 after purchasing an additional 5,951 shares in the last quarter. Finally, LPL Financial LLC grew its stake in shares of Biohaven by 4.1% in the 4th quarter. LPL Financial LLC now owns 42,190 shares of the company's stock valued at $1,576,000 after purchasing an additional 1,664 shares during the period. Institutional investors own 88.78% of the company's stock.

Insiders Place Their Bets

In related news, Director John W. Childs purchased 32,700 shares of Biohaven stock in a transaction dated Tuesday, March 4th. The shares were acquired at an average cost of $30.47 per share, for a total transaction of $996,369.00. Following the transaction, the director now directly owns 2,320,571 shares of the company's stock, valued at approximately $70,707,798.37. This trade represents a 1.43% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 16.00% of the company's stock.

Biohaven Stock Performance

NYSE:BHVN traded down $0.27 on Monday, hitting $15.75. 2,129,403 shares of the stock were exchanged, compared to its average volume of 1,216,983. Biohaven Ltd. has a 52 week low of $14.69 and a 52 week high of $55.70. The stock has a market capitalization of $1.61 billion, a price-to-earnings ratio of -1.68 and a beta of 1.18. The company's 50-day moving average price is $22.31 and its 200 day moving average price is $34.09.

Biohaven (NYSE:BHVN - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The company reported ($2.17) EPS for the quarter, missing the consensus estimate of ($1.67) by ($0.50). As a group, equities research analysts predict that Biohaven Ltd. will post -8.9 earnings per share for the current year.

Analysts Set New Price Targets

BHVN has been the subject of several analyst reports. JPMorgan Chase & Co. cut their target price on Biohaven from $72.00 to $68.00 and set an "overweight" rating for the company in a research report on Wednesday, March 5th. Morgan Stanley reduced their target price on shares of Biohaven from $69.00 to $63.00 and set an "overweight" rating on the stock in a research note on Friday, March 7th. Robert W. Baird dropped their target price on shares of Biohaven from $60.00 to $57.00 and set an "outperform" rating for the company in a research report on Monday, April 28th. Deutsche Bank Aktiengesellschaft set a $60.00 price target on shares of Biohaven and gave the company a "buy" rating in a report on Thursday, March 20th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $54.00 price objective on shares of Biohaven in a research note on Tuesday, March 4th. One investment analyst has rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Buy" and an average price target of $59.46.

Biohaven Company 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.