WCM Investment Management LLC Acquires Shares of 106,665 Biohaven Ltd. (NYSE:BHVN)

WCM Investment Management LLC bought a new position in Biohaven Ltd. (NYSE:BHVN) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 106,665 shares of the company’s stock, valued at approximately $3,816,000.

Other institutional investors have also modified their holdings of the company. Franklin Resources Inc. increased its holdings in Biohaven by 0.5% in the third quarter. Franklin Resources Inc. now owns 79,705 shares of the company’s stock valued at $4,206,000 after buying an additional 412 shares during the last quarter. KBC Group NV grew its position in shares of Biohaven by 24.5% in the 3rd quarter. KBC Group NV now owns 2,250 shares of the company’s stock worth $112,000 after acquiring an additional 443 shares in the last quarter. Venturi Wealth Management LLC increased its holdings in shares of Biohaven by 19.1% in the 3rd 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 last quarter. FSC Wealth Advisors LLC raised its position in shares of Biohaven by 3.3% during the 4th quarter. FSC Wealth Advisors LLC now owns 15,500 shares of the company’s stock valued at $579,000 after acquiring an additional 500 shares in the last quarter. Finally, US Bancorp DE lifted its stake in Biohaven by 57.1% during the third quarter. US Bancorp DE now owns 2,173 shares of the company’s stock worth $109,000 after purchasing an additional 790 shares during the last quarter. Institutional investors and hedge funds own 88.78% of the company’s stock.

Insider Activity

In other news, Director John W. Childs bought 29,000 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The shares were purchased at an average price of $35.94 per share, with a total value of $1,042,260.00. Following the completion of the acquisition, the director now directly owns 2,368,741 shares in the company, valued at approximately $85,132,551.54. This trade represents a 1.24 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 16.00% of the company’s stock.

Biohaven Stock Performance

Shares of BHVN stock opened at $38.40 on Monday. Biohaven Ltd. has a 1 year low of $26.80 and a 1 year high of $62.21. The firm has a market capitalization of $3.88 billion, a PE ratio of -4.11 and a beta of 1.28. The stock has a fifty day moving average of $38.90 and a two-hundred day moving average of $42.64.

Biohaven (NYSE:BHVN) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($1.70) earnings per share for the quarter, missing the consensus estimate of ($1.67) by ($0.03). Equities research analysts predict that Biohaven Ltd. will post -8.9 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have weighed in on BHVN. Cantor Fitzgerald reiterated an “overweight” rating on shares of Biohaven in a research note on Tuesday, December 17th. 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. Royal Bank of Canada reissued an “outperform” rating and issued a $61.00 target price (up previously from $58.00) on shares of Biohaven in a report on Wednesday, December 4th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $59.00 target price on shares of Biohaven in a report on Tuesday, December 17th. Thirteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Biohaven presently has a consensus rating of “Buy” and a consensus target price of $63.00.

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.