The Manufacturers Life Insurance Company Grows Stock Position in Biohaven Ltd. (NYSE:BHVN)

The Manufacturers Life Insurance Company increased its holdings in Biohaven Ltd. (NYSE:BHVN) by 4.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 192,677 shares of the company’s stock after buying an additional 8,905 shares during the quarter. The Manufacturers Life Insurance Company owned 0.20% of Biohaven worth $9,628,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Pekin Hardy Strauss Inc. boosted its stake in shares of Biohaven by 27.6% during the 3rd quarter. Pekin Hardy Strauss Inc. now owns 16,975 shares of the company’s stock worth $848,000 after acquiring an additional 3,675 shares during the last quarter. Algert Global LLC lifted its position in Biohaven by 337.6% during the third quarter. Algert Global LLC now owns 32,392 shares of the company’s stock valued at $1,619,000 after purchasing an additional 24,990 shares in the last quarter. Citigroup Inc. grew its holdings in Biohaven by 125.8% during the third quarter. Citigroup Inc. now owns 119,905 shares of the company’s stock valued at $5,992,000 after purchasing an additional 66,801 shares during the period. Charles Schwab Investment Management Inc. increased its position in Biohaven by 5.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 632,690 shares of the company’s stock worth $31,616,000 after buying an additional 32,769 shares in the last quarter. Finally, Intech Investment Management LLC bought a new position in shares of Biohaven in the third quarter worth about $565,000. 88.78% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Royal Bank of Canada cut their price objective on Biohaven from $66.00 to $58.00 and set an “outperform” rating for the company in a research note on Monday, November 25th. TD Cowen increased their price objective on shares of Biohaven from $55.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. JPMorgan Chase & Co. lifted their target price on shares of Biohaven from $55.00 to $68.00 and gave the company an “overweight” rating in a research note on Thursday, October 3rd. Jefferies Financial Group initiated coverage on Biohaven in a research note on Monday, September 16th. They issued a “buy” rating and a $57.00 price target for the company. Finally, Robert W. Baird boosted their price objective on Biohaven from $58.00 to $60.00 and gave the company an “outperform” rating in a research report on Monday, September 23rd. Thirteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Biohaven presently has an average rating of “Buy” and a consensus price target of $62.75.

Biohaven Price Performance

Biohaven stock opened at $43.68 on Wednesday. Biohaven Ltd. has a 1-year low of $26.80 and a 1-year high of $62.21. The company’s 50-day moving average is $49.74 and its 200 day moving average is $41.47. The firm has a market capitalization of $4.42 billion, a P/E ratio of -4.67 and a beta of 1.24.

Biohaven (NYSE:BHVN) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($1.70) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.67) by ($0.03). Research analysts anticipate that Biohaven Ltd. will post -8.85 earnings per share for the current fiscal year.

Insider Activity

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

About Biohaven

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.