Pictet Asset Management Holding SA Buys 98,779 Shares of Biohaven Ltd. (NYSE:BHVN)

Pictet Asset Management Holding SA boosted its stake in shares of Biohaven Ltd. (NYSE:BHVN) by 32.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 405,848 shares of the company’s stock after purchasing an additional 98,779 shares during the quarter. Pictet Asset Management Holding SA owned about 0.40% of Biohaven worth $15,158,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Spire Wealth Management purchased a new position in Biohaven during the 4th quarter worth $56,000. Amalgamated Bank boosted its holdings in Biohaven by 21.9% in the fourth quarter. Amalgamated Bank now owns 2,929 shares of the company’s stock worth $109,000 after acquiring an additional 527 shares in the last quarter. US Bancorp DE grew its stake in shares of Biohaven by 36.7% during the fourth quarter. US Bancorp DE now owns 2,971 shares of the company’s stock worth $111,000 after acquiring an additional 798 shares during the last quarter. KBC Group NV increased its holdings in shares of Biohaven by 50.1% during the fourth quarter. KBC Group NV now owns 3,377 shares of the company’s stock valued at $126,000 after acquiring an additional 1,127 shares in the last quarter. Finally, Diversified Trust Co raised its position in shares of Biohaven by 16.6% in the 4th quarter. Diversified Trust Co now owns 5,585 shares of the company’s stock valued at $209,000 after purchasing an additional 795 shares during the last quarter. Hedge funds and other institutional investors own 88.78% of the company’s stock.

Insider Buying and Selling at Biohaven

In related news, Director John W. Childs acquired 32,700 shares of the business’s stock in a transaction dated Tuesday, March 4th. The shares were acquired at an average price of $30.47 per share, with a total value of $996,369.00. Following the completion of the transaction, the director now owns 2,320,571 shares of the company’s stock, valued at $70,707,798.37. The trade was a 1.43 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 16.00% of the stock is currently owned by corporate insiders.

Biohaven Price Performance

Biohaven stock opened at $22.60 on Wednesday. The stock has a market cap of $2.31 billion, a price-to-earnings ratio of -2.42 and a beta of 1.27. The firm has a 50 day simple moving average of $34.55 and a 200-day simple moving average of $41.21. Biohaven Ltd. has a 1-year low of $21.47 and a 1-year high of $55.72.

Biohaven (NYSE:BHVN) last issued its quarterly earnings data on Monday, March 3rd. The company reported ($1.85) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.56) by ($0.29). Equities analysts expect that Biohaven Ltd. will post -8.9 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. HC Wainwright reiterated a “buy” rating and set a $54.00 price objective on shares of Biohaven in a research note on Tuesday, March 4th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $61.00 price target on shares of Biohaven in a research report on Tuesday, March 4th. JPMorgan Chase & Co. cut their price objective on Biohaven from $72.00 to $68.00 and set an “overweight” rating on the stock in a report on Wednesday, March 5th. Morgan Stanley decreased their target price on Biohaven from $69.00 to $63.00 and set an “overweight” rating for the company in a report on Friday, March 7th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Biohaven in a report on Tuesday, December 17th. Fourteen equities research 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, the company currently has a consensus rating of “Buy” and an average target price of $62.77.

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.