Wellington Management Group LLP Purchases 390,888 Shares of Biohaven Ltd. (NYSE:BHVN)

Wellington Management Group LLP lifted its position in Biohaven Ltd. (NYSE:BHVN - Free Report) by 160.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 634,055 shares of the company's stock after purchasing an additional 390,888 shares during the period. Wellington Management Group LLP owned about 0.62% of Biohaven worth $23,682,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of BHVN. Barclays PLC boosted its stake in Biohaven by 87.6% during the third quarter. Barclays PLC now owns 268,077 shares of the company's stock valued at $13,396,000 after buying an additional 125,189 shares during the last quarter. KBC Group NV grew its holdings 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 purchasing an additional 1,127 shares in the last quarter. China Universal Asset Management Co. Ltd. purchased a new position in shares of Biohaven in the fourth quarter valued at $575,000. Spire Wealth Management bought a new stake in Biohaven in the fourth quarter worth $56,000. Finally, Jennison Associates LLC bought a new position in Biohaven during the fourth quarter valued at $3,643,000. Institutional investors own 88.78% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Royal Bank of Canada downgraded shares of Biohaven from an "outperform" rating to a "sector perform" rating and decreased their price objective for the stock from $54.00 to $21.00 in a research note on Monday, May 19th. Deutsche Bank Aktiengesellschaft set a $60.00 price target on Biohaven and gave the stock a "buy" rating in a report on Thursday, March 20th. JPMorgan Chase & Co. dropped their price objective on Biohaven from $72.00 to $68.00 and set an "overweight" rating for the company in a report on Wednesday, March 5th. Cantor Fitzgerald upgraded Biohaven to a "strong-buy" rating in a research note on Tuesday, May 13th. Finally, HC Wainwright reiterated a "buy" rating and set a $54.00 target price on shares of Biohaven in a research report on Tuesday, March 4th. One analyst has rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Biohaven has a consensus rating of "Buy" and a consensus price target of $59.46.

Biohaven Trading Up 0.9%

NYSE:BHVN traded up $0.14 during mid-day trading on Tuesday, reaching $15.82. 1,584,314 shares of the stock were exchanged, compared to its average volume of 1,231,175. The firm has a market capitalization of $1.62 billion, a PE ratio of -1.69 and a beta of 1.18. The business has a fifty day moving average price of $19.29 and a 200 day moving average price of $31.38. Biohaven Ltd. has a 1-year low of $14.33 and a 1-year high of $55.70.

Biohaven (NYSE:BHVN - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The company reported ($2.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.67) by ($0.50). On average, sell-side analysts forecast that Biohaven Ltd. will post -8.9 earnings per share for the current year.

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.