Biohaven Ltd. (NYSE:BHVN) Shares Acquired by Fred Alger Management LLC

Fred Alger Management LLC lifted its stake in Biohaven Ltd. (NYSE:BHVNFree Report) by 44.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 58,142 shares of the company’s stock after acquiring an additional 17,848 shares during the quarter. Fred Alger Management LLC owned 0.06% of Biohaven worth $2,905,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. nVerses Capital LLC purchased a new stake in Biohaven during the third quarter worth about $50,000. Redwood Wealth Management Group LLC acquired a new position in shares of Biohaven in the second quarter valued at approximately $61,000. Values First Advisors Inc. purchased a new stake in Biohaven during the 3rd quarter worth approximately $78,000. US Bancorp DE lifted its holdings in Biohaven by 57.1% during the 3rd quarter. US Bancorp DE now owns 2,173 shares of the company’s stock worth $109,000 after buying an additional 790 shares in the last quarter. Finally, KBC Group NV boosted its position in Biohaven by 24.5% in the 3rd 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. Hedge funds and other institutional investors own 88.78% of the company’s stock.

Biohaven Price Performance

NYSE BHVN opened at $46.01 on Monday. The company has a fifty day moving average of $49.77 and a two-hundred day moving average of $41.40. The company has a market capitalization of $4.65 billion, a PE ratio of -4.92 and a beta of 1.31. Biohaven Ltd. has a 1 year low of $26.80 and a 1 year high of $62.21.

Biohaven (NYSE:BHVNGet Free Report) last announced its 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). On average, research analysts expect that Biohaven Ltd. will post -8.85 earnings per share for the current year.

Analysts Set New Price Targets

BHVN has been the topic of several analyst reports. Jefferies Financial Group assumed coverage on Biohaven in a research note on Monday, September 16th. They issued a “buy” rating and a $57.00 price objective on the stock. Bank of America increased their price target on Biohaven from $52.00 to $62.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. William Blair raised Biohaven to a “strong-buy” rating in a research report on Friday, August 30th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Biohaven in a report on Wednesday, October 23rd. Finally, Royal Bank of Canada lowered their price target on shares of Biohaven from $66.00 to $58.00 and set an “outperform” rating for the company in a report on Monday, November 25th. Thirteen investment 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, the stock has an average rating of “Buy” and a consensus price target of $62.75.

Check Out Our Latest Analysis on Biohaven

Insider Transactions at Biohaven

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

Biohaven Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Biohaven (NYSE:BHVN)

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