BNP Paribas Financial Markets Buys New Holdings in Biohaven Ltd. (NYSE:BHVN)

BNP Paribas Financial Markets bought a new stake in Biohaven Ltd. (NYSE:BHVN - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 41,762 shares of the company's stock, valued at approximately $1,560,000.

A number of other institutional investors also recently modified their holdings of BHVN. Barclays PLC raised its stake in shares of Biohaven by 87.6% in the third quarter. Barclays PLC now owns 268,077 shares of the company's stock valued at $13,396,000 after acquiring an additional 125,189 shares during the last quarter. ARS Investment Partners LLC raised its stake in shares of Biohaven by 1.0% in the fourth 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 during the last quarter. Inspire Investing LLC raised its stake in shares of Biohaven by 32.9% in the fourth quarter. Inspire Investing LLC now owns 10,895 shares of the company's stock valued at $407,000 after acquiring an additional 2,698 shares during the last quarter. KBC Group NV raised its stake in shares of Biohaven by 50.1% in the fourth quarter. KBC Group NV now owns 3,377 shares of the company's stock valued at $126,000 after acquiring an additional 1,127 shares during the last quarter. Finally, FSC Wealth Advisors LLC raised its stake in shares of Biohaven by 3.3% in the fourth quarter. FSC Wealth Advisors LLC now owns 15,500 shares of the company's stock valued at $579,000 after acquiring an additional 500 shares during the last quarter. Institutional investors own 88.78% of the company's stock.

Biohaven Trading Up 1.5%

Shares of Biohaven stock traded up $0.24 during trading on Friday, reaching $15.67. The stock had a trading volume of 2,283,708 shares, compared to its average volume of 1,238,104. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of -1.68 and a beta of 1.18. The stock has a fifty day moving average price of $20.97 and a two-hundred day moving average price of $32.97. Biohaven Ltd. has a 52 week low of $14.69 and a 52 week high of $55.70.

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 analysts' consensus estimates of ($1.67) by ($0.50). On average, equities analysts forecast that Biohaven Ltd. will post -8.9 EPS for the current fiscal year.

Insider Activity

In other Biohaven news, Director John W. Childs purchased 32,700 shares of the business's stock in a transaction on Tuesday, March 4th. The shares were purchased 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 of the company's stock, valued at $70,707,798.37. This represents a 1.43% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 16.00% of the company's stock.

Wall Street Analyst Weigh In

BHVN has been the subject of a number of research analyst reports. Cantor Fitzgerald upgraded shares of Biohaven to a "strong-buy" rating in a research note on Tuesday, May 13th. Royal Bank of Canada cut shares of Biohaven from an "outperform" rating to a "sector perform" rating and dropped their price objective for the stock from $54.00 to $21.00 in a research report on Monday, May 19th. Morgan Stanley dropped their price objective on shares of Biohaven from $69.00 to $63.00 and set an "overweight" rating for the company in a research report on Friday, March 7th. HC Wainwright restated a "buy" rating and issued a $54.00 price objective on shares of Biohaven in a research report on Tuesday, March 4th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Biohaven from $72.00 to $68.00 and set an "overweight" rating for the company in a research report on Wednesday, March 5th. One research analyst has rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $59.46.

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.