Jennison Associates LLC Takes $11.40 Million Position in Biohaven Ltd. (NYSE:BHVN)

Jennison Associates LLC bought a new position in Biohaven Ltd. (NYSE:BHVN) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 266,391 shares of the company’s stock, valued at approximately $11,402,000. Jennison Associates LLC owned 0.33% of Biohaven as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in BHVN. Redmile Group LLC purchased a new position in shares of Biohaven in the third quarter worth about $13,497,000. Armistice Capital LLC increased its stake in Biohaven by 13.1% in the 3rd quarter. Armistice Capital LLC now owns 2,036,000 shares of the company’s stock worth $52,956,000 after purchasing an additional 236,000 shares during the period. Rafferty Asset Management LLC grew its holdings in shares of Biohaven by 80.8% in the third quarter. Rafferty Asset Management LLC now owns 342,861 shares of the company’s stock worth $8,918,000 after purchasing an additional 153,271 shares during the last quarter. Stifel Financial Corp raised its holdings in Biohaven by 2.7% during the 3rd quarter. Stifel Financial Corp now owns 5,769,749 shares of the company’s stock valued at $150,071,000 after buying an additional 150,000 shares during the last quarter. Finally, TD Asset Management Inc grew its holdings in Biohaven by 110.4% in the 3rd quarter. TD Asset Management Inc now owns 210,746 shares of the company’s stock worth $5,482,000 after acquiring an additional 110,573 shares during the last quarter. 88.78% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on BHVN shares. JPMorgan Chase & Co. upped their price objective on shares of Biohaven from $32.00 to $56.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. TD Cowen upped their target price on Biohaven from $35.00 to $55.00 and gave the company an “outperform” rating in a report on Friday, March 1st. HC Wainwright upped their price objective on shares of Biohaven from $50.00 to $63.00 and gave the stock a “buy” rating in a report on Monday, March 4th. UBS Group lifted their target price on shares of Biohaven from $59.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $61.00 price target on shares of Biohaven in a research report on Tuesday, April 9th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $52.13.

Insider Activity at Biohaven

In other Biohaven news, Director Gregory Bailey acquired 48,780 shares of Biohaven stock in a transaction that occurred on Monday, April 22nd. The stock was bought at an average cost of $41.00 per share, for a total transaction of $1,999,980.00. Following the acquisition, the director now owns 1,574,568 shares of the company’s stock, valued at $64,557,288. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Vlad Coric bought 121,951 shares of the company’s stock in a transaction on Monday, April 22nd. The shares were acquired at an average cost of $41.00 per share, with a total value of $4,999,991.00. Following the completion of the transaction, the chief executive officer now owns 1,788,417 shares of the company’s stock, valued at approximately $73,325,097. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gregory Bailey acquired 48,780 shares of the firm’s stock in a transaction dated Monday, April 22nd. The stock was bought at an average cost of $41.00 per share, for a total transaction of $1,999,980.00. Following the purchase, the director now directly owns 1,574,568 shares of the company’s stock, valued at $64,557,288. The disclosure for this purchase can be found here. Insiders bought 196,234 shares of company stock valued at $7,999,179 over the last 90 days. Corporate insiders own 16.00% of the company’s stock.

Biohaven Stock Down 0.5 %

BHVN stock opened at $38.54 on Friday. The business has a 50 day moving average of $51.32 and a 200 day moving average of $41.79. Biohaven Ltd. has a twelve month low of $12.35 and a twelve month high of $62.21. The firm has a market cap of $3.40 billion, a PE ratio of -6.81 and a beta of 1.18.

Biohaven (NYSE:BHVN) last announced its quarterly earnings data on Thursday, February 29th. The company reported ($1.81) EPS for the quarter, missing the consensus estimate of ($1.41) by ($0.40). On average, research analysts expect that Biohaven Ltd. will post -5.85 earnings per share for the current fiscal year.

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.