Wellington Management Group LLP Purchases 208,472 Shares of Biohaven Ltd. (NYSE:BHVN)

Wellington Management Group LLP increased its position in shares of Biohaven Ltd. (NYSE:BHVN) by 600.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 243,167 shares of the company’s stock after buying an additional 208,472 shares during the period. Wellington Management Group LLP owned 0.24% of Biohaven worth $12,151,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Algert Global LLC grew its position in shares of Biohaven by 5.9% in the second quarter. Algert Global LLC now owns 7,402 shares of the company’s stock valued at $257,000 after purchasing an additional 412 shares during the last quarter. KBC Group NV grew its holdings in Biohaven by 24.5% in the 3rd quarter. KBC Group NV now owns 2,250 shares of the company’s stock valued at $112,000 after buying an additional 443 shares during the last quarter. Hsbc Holdings PLC increased its position in Biohaven by 6.1% in the 2nd quarter. Hsbc Holdings PLC now owns 8,291 shares of the company’s stock worth $286,000 after buying an additional 480 shares during the period. Canton Hathaway LLC lifted its holdings in shares of Biohaven by 2.3% during the second quarter. Canton Hathaway LLC now owns 21,850 shares of the company’s stock worth $758,000 after buying an additional 500 shares during the last quarter. Finally, Venturi Wealth Management LLC boosted its position in shares of Biohaven by 19.1% in the third quarter. Venturi Wealth Management LLC now owns 3,117 shares of the company’s stock valued at $156,000 after acquiring an additional 500 shares during the period. Institutional investors own 88.78% of the company’s stock.

Biohaven Stock Performance

Shares of BHVN opened at $38.47 on Friday. The stock has a fifty day moving average price of $48.70 and a two-hundred day moving average price of $41.77. The company has a market cap of $3.89 billion, a price-to-earnings ratio of -4.11 and a beta of 1.24. Biohaven Ltd. has a 52-week low of $26.80 and a 52-week high of $62.21.

Biohaven (NYSE:BHVN) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($1.70) EPS for the quarter, missing the consensus estimate of ($1.67) by ($0.03). As a group, research analysts predict that Biohaven Ltd. will post -8.85 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have weighed in on BHVN shares. Cantor Fitzgerald reissued an “overweight” rating on shares of Biohaven in a report on Wednesday, October 23rd. TD Cowen increased their target price on shares of Biohaven from $55.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Piper Sandler boosted their price target on Biohaven from $66.00 to $76.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. William Blair raised Biohaven to a “strong-buy” rating in a report on Friday, August 30th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $61.00 target price (up from $58.00) on shares of Biohaven in a research note on Wednesday, December 4th. Thirteen analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $63.00.

Insider Buying and Selling

In other Biohaven news, Director Gregory Bailey acquired 5,000 shares of Biohaven stock in a transaction on Tuesday, September 24th. The shares were purchased at an average cost of $44.19 per share, with a total value of $220,950.00. Following the completion of the purchase, the director now owns 1,620,071 shares in the company, valued at $71,590,937.49. The trade was a 0.31 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John W. Childs purchased 21,052 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The stock was bought at an average cost of $47.50 per share, for a total transaction of $999,970.00. Following the purchase, the director now owns 21,052 shares in the company, valued at $999,970. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 16.00% of the company’s stock.

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.