Bank of America Corp DE Purchases 89,576 Shares of Biohaven Ltd. (NYSE:BHVN)

Bank of America Corp DE increased its position in Biohaven Ltd. (NYSE:BHVN - Free Report) by 40.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 approximately 0.31% of Biohaven worth $11,599,000 as of its most recent SEC filing.

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

Biohaven Stock Down 3.5%

Shares of NYSE:BHVN traded down $0.55 during midday trading on Tuesday, hitting $15.09. The stock had a trading volume of 902,388 shares, compared to its average volume of 1,238,029. The company has a market cap of $1.54 billion, a P/E ratio of -1.61 and a beta of 1.18. Biohaven Ltd. has a 12 month low of $14.69 and a 12 month high of $55.70. The business's 50-day simple moving average is $20.71 and its 200-day simple moving average is $32.57.

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

Analysts Set New Price Targets

Several equities research analysts have weighed in on BHVN shares. HC Wainwright reiterated a "buy" rating and issued a $54.00 target price on shares of Biohaven in a report on Tuesday, March 4th. William Blair upgraded Biohaven to a "strong-buy" rating in a report on Thursday, April 24th. Royal Bank of Canada downgraded Biohaven from an "outperform" rating to a "sector perform" rating and lowered their price target for the stock from $54.00 to $21.00 in a report on Monday, May 19th. Cantor Fitzgerald upgraded Biohaven to a "strong-buy" rating in a report on Tuesday, May 13th. Finally, Robert W. Baird decreased their price objective on Biohaven from $60.00 to $57.00 and set an "outperform" rating for the company in a research report on Monday, April 28th. One investment 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. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $59.46.

Insider Transactions at Biohaven

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 stock was acquired at an average price of $30.47 per share, with a total value of $996,369.00. Following the acquisition, the director now directly owns 2,320,571 shares of the company's stock, valued at $70,707,798.37. This trade represents a 1.43% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 16.00% of the stock is currently owned by corporate insiders.

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.