Renaissance Technologies LLC purchased a new stake in shares of Biohaven Ltd. (NYSE:BHVN - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 19,352 shares of the company's stock, valued at approximately $723,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BHVN. Spire Wealth Management acquired a new stake in shares of Biohaven in the fourth quarter worth approximately $56,000. Amalgamated Bank lifted its holdings in Biohaven by 21.9% in the 4th quarter. Amalgamated Bank now owns 2,929 shares of the company's stock valued at $109,000 after purchasing an additional 527 shares in the last quarter. US Bancorp DE boosted its stake in Biohaven by 36.7% during the 4th quarter. US Bancorp DE now owns 2,971 shares of the company's stock worth $111,000 after purchasing an additional 798 shares during the last quarter. KBC Group NV grew 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 worth $126,000 after buying 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 fourth quarter. Diversified Trust Co now owns 5,585 shares of the company's stock valued at $209,000 after buying an additional 795 shares during the last quarter. Hedge funds and other institutional investors own 88.78% of the company's stock.
Insider Activity
In other Biohaven news, Director John W. Childs bought 32,700 shares of the business's stock in a transaction dated Tuesday, March 4th. The shares were acquired at an average cost of $30.47 per share, with a total value of $996,369.00. Following the acquisition, the director now directly 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 position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 16.00% of the company's stock.
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on the stock. Robert W. Baird dropped their price objective on shares of Biohaven from $60.00 to $57.00 and set an "outperform" rating for the company in a research note on Monday, April 28th. HC Wainwright reissued a "buy" rating and issued a $54.00 price objective on shares of Biohaven in a report on Tuesday, March 4th. JPMorgan Chase & Co. reduced their target price on shares of Biohaven from $72.00 to $68.00 and set an "overweight" rating on the stock in a research note on Wednesday, March 5th. Royal Bank of Canada reissued an "outperform" rating and issued a $61.00 price target on shares of Biohaven in a research note on Tuesday, March 4th. Finally, William Blair upgraded Biohaven to a "strong-buy" rating in a report on Thursday, April 24th. Fourteen 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, Biohaven has an average rating of "Buy" and a consensus price target of $62.54.
Check Out Our Latest Report on BHVN
Biohaven Price Performance
Shares of Biohaven stock traded up $0.31 on Friday, reaching $22.76. 2,101,533 shares of the company were exchanged, compared to its average volume of 1,157,076. Biohaven Ltd. has a 1-year low of $15.79 and a 1-year high of $55.70. The stock's 50 day moving average price is $24.91 and its 200-day moving average price is $36.37. The company has a market cap of $2.32 billion, a P/E ratio of -2.43 and a beta of 1.18.
Biohaven (NYSE:BHVN - Get Free Report) last posted its earnings results on Monday, March 3rd. The company reported ($1.85) EPS for the quarter, missing the consensus estimate of ($1.56) by ($0.29). On average, research analysts predict that Biohaven Ltd. will post -8.9 earnings per share for the current fiscal year.
Biohaven Company Profile
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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.
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