Bank of America Corp DE Grows Stake in Biohaven Ltd. (NYSE:BHVN)

Bank of America Corp DE boosted its stake in Biohaven Ltd. (NYSE:BHVN - Free Report) by 40.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 310,559 shares of the company's stock after purchasing an additional 89,576 shares during the quarter. Bank of America Corp DE owned about 0.31% of Biohaven worth $11,599,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Biohaven by 8.1% during the 4th quarter. Vanguard Group Inc. now owns 8,414,120 shares of the company's stock valued at $314,267,000 after buying an additional 628,211 shares in the last quarter. Stifel Financial Corp raised its position in Biohaven by 0.8% during the fourth quarter. Stifel Financial Corp now owns 6,559,313 shares of the company's stock valued at $244,990,000 after purchasing an additional 50,052 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Biohaven by 144.5% in the 4th quarter. JPMorgan Chase & Co. now owns 1,979,169 shares of the company's stock worth $73,922,000 after purchasing an additional 1,169,721 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Biohaven by 11.1% during the 4th quarter. Geode Capital Management LLC now owns 1,905,366 shares of the company's stock valued at $71,182,000 after purchasing an additional 190,754 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Biohaven during the 4th quarter valued at about $33,711,000. 88.78% of the stock is currently owned by institutional investors.

Biohaven Stock Performance

Shares of Biohaven stock traded up $0.44 during midday trading on Wednesday, reaching $15.78. 168,299 shares of the company's stock traded hands, compared to its average volume of 1,239,251. The stock has a 50 day moving average of $20.45 and a 200-day moving average of $32.45. Biohaven Ltd. has a 12 month low of $14.69 and a 12 month high of $55.70. The company has a market cap of $1.61 billion, a PE ratio of -1.69 and a beta of 1.18.

Biohaven (NYSE:BHVN - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The company reported ($2.17) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.67) by ($0.50). On average, equities analysts anticipate that Biohaven Ltd. will post -8.9 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on BHVN shares. William Blair upgraded shares of Biohaven to a "strong-buy" rating in a research report on Thursday, April 24th. 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 report on Friday, March 7th. 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. HC Wainwright restated a "buy" rating and set a $54.00 price target on shares of Biohaven in a research report on Tuesday, March 4th. Finally, Deutsche Bank Aktiengesellschaft set a $60.00 price objective on Biohaven and gave the stock a "buy" rating in a report on Thursday, March 20th. One 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 company's stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $59.46.

Insiders Place Their Bets

In other news, Director John W. Childs acquired 32,700 shares of the firm's stock in a transaction on Tuesday, March 4th. The stock was acquired at an average price of $30.47 per share, for a total transaction of $996,369.00. Following the completion of the acquisition, the director now owns 2,320,571 shares in the company, valued at $70,707,798.37. This trade represents a 1.43% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 16.00% of the stock is currently owned by company insiders.

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.