Biohaven Ltd. (NYSE:BHVN) Stock Position Boosted by Suvretta Capital Management LLC

Suvretta Capital Management LLC raised its stake in shares of Biohaven Ltd. (NYSE:BHVN - Free Report) by 8.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,620,271 shares of the company's stock after purchasing an additional 421,052 shares during the quarter. Biohaven comprises 7.2% of Suvretta Capital Management LLC's holdings, making the stock its biggest position. Suvretta Capital Management LLC owned approximately 5.56% of Biohaven worth $209,917,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Biohaven by 8.1% in the fourth quarter. Vanguard Group Inc. now owns 8,414,120 shares of the company's stock worth $314,267,000 after acquiring an additional 628,211 shares during the period. Janus Henderson Group PLC boosted its holdings in Biohaven by 12.1% in the fourth quarter. Janus Henderson Group PLC now owns 6,982,425 shares of the company's stock valued at $260,735,000 after purchasing an additional 756,032 shares during the last quarter. Stifel Financial Corp grew its position in Biohaven by 0.8% during the 4th quarter. Stifel Financial Corp now owns 6,559,313 shares of the company's stock worth $244,990,000 after purchasing an additional 50,052 shares during the period. Farallon Capital Management LLC raised its stake in shares of Biohaven by 21.6% during the 4th quarter. Farallon Capital Management LLC now owns 4,428,167 shares of the company's stock valued at $165,392,000 after buying an additional 785,578 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Biohaven by 144.5% in the 4th quarter. JPMorgan Chase & Co. now owns 1,979,169 shares of the company's stock valued at $73,922,000 after buying an additional 1,169,721 shares during the period. Hedge funds and other institutional investors own 88.78% of the company's stock.

Insider Activity at Biohaven

In related news, Director John W. Childs acquired 32,700 shares of Biohaven stock in a transaction that occurred on Tuesday, March 4th. The shares were purchased at an average price of $30.47 per share, for a total transaction of $996,369.00. Following the completion of the transaction, the director now owns 2,320,571 shares in the company, valued at $70,707,798.37. This represents a 1.43% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 16.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Cantor Fitzgerald raised Biohaven to a "strong-buy" rating in a report on Tuesday, May 13th. Deutsche Bank Aktiengesellschaft set a $60.00 price target on shares of Biohaven and gave the company a "buy" rating in a research report on Thursday, March 20th. HC Wainwright reiterated a "buy" rating and issued a $54.00 price objective on shares of Biohaven in a research report on Tuesday, March 4th. Morgan Stanley lowered their target price on shares of Biohaven from $69.00 to $63.00 and set an "overweight" rating on the stock in a research note on Friday, March 7th. Finally, Royal Bank of Canada cut Biohaven from an "outperform" rating to a "sector perform" rating and dropped their target price for the company from $54.00 to $21.00 in a research report on Monday. One analyst has rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Biohaven currently has an average rating of "Buy" and a consensus price target of $59.46.

Biohaven Stock Performance

Shares of BHVN traded up $0.47 during trading hours on Tuesday, hitting $16.22. 2,291,251 shares of the stock were exchanged, compared to its average volume of 1,222,658. The stock's 50-day moving average price is $21.79 and its two-hundred day moving average price is $33.72. The company has a market cap of $1.66 billion, a price-to-earnings ratio of -1.73 and a beta of 1.18. Biohaven Ltd. has a 12-month low of $14.69 and a 12-month high of $55.70.

Biohaven (NYSE:BHVN - Get Free Report) last released its earnings results on Monday, May 12th. The company reported ($2.17) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.67) by ($0.50). On average, research analysts expect that Biohaven Ltd. will post -8.9 earnings per share for the current year.

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.