Wellington Management Group LLP Has $12.15 Million Stock Position in Biohaven Ltd. (NYSE:BHVN)

Wellington Management Group LLP increased its holdings in shares of Biohaven Ltd. (NYSE:BHVN) by 600.9% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 243,167 shares of the company’s stock after acquiring an additional 208,472 shares during the quarter. Wellington Management Group LLP’s holdings in Biohaven were worth $12,151,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. nVerses Capital LLC acquired a new stake in shares of Biohaven during the third quarter worth about $50,000. Redwood Wealth Management Group LLC bought a new stake in Biohaven during the 2nd quarter worth approximately $61,000. Values First Advisors Inc. acquired a new stake in Biohaven during the 3rd quarter worth approximately $78,000. US Bancorp DE boosted its holdings in shares of Biohaven by 57.1% in the third quarter. US Bancorp DE now owns 2,173 shares of the company’s stock valued at $109,000 after buying an additional 790 shares during the period. Finally, KBC Group NV boosted its holdings in shares of Biohaven by 24.5% in the third 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 period. 88.78% of the stock is currently owned by institutional investors.

Insider Activity at Biohaven

In other news, Director Gregory Bailey acquired 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The shares were acquired 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 directly owns 1,620,071 shares of the company’s stock, valued at $71,590,937.49. The trade was a 0.31 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John W. Childs purchased 21,052 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were acquired at an average cost of $47.50 per share, with a total value of $999,970.00. Following the acquisition, the director now directly owns 21,052 shares in the company, valued at $999,970. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 16.00% of the stock is currently owned by corporate insiders.

Biohaven Stock Down 4.2 %

Biohaven stock opened at $38.47 on Friday. Biohaven Ltd. has a twelve month low of $26.80 and a twelve month high of $62.21. The stock has a market cap of $3.89 billion, a P/E ratio of -4.11 and a beta of 1.24. The company’s 50-day moving average price is $48.70 and its two-hundred day moving average price is $41.77.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $59.00 price objective on shares of Biohaven in a research report on Tuesday, November 26th. Jefferies Financial Group began coverage on Biohaven in a report on Monday, September 16th. They issued a “buy” rating and a $57.00 price target on the stock. Bank of America increased their price objective on Biohaven from $52.00 to $62.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. Piper Sandler boosted their target price on Biohaven from $66.00 to $76.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Finally, Leerink Partners increased their price objective on shares of Biohaven from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Monday, September 23rd. Thirteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Biohaven presently has a consensus rating of “Buy” and an average price target of $63.00.

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.