Cubist Systematic Strategies LLC Makes New Investment in Biohaven Ltd. (NYSE:BHVN)

Cubist Systematic Strategies LLC purchased a new stake in Biohaven Ltd. (NYSE:BHVN - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 23,671 shares of the company's stock, valued at approximately $884,000.

Several other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Biohaven by 8.1% in the 4th quarter. Vanguard Group Inc. now owns 8,414,120 shares of the company's stock worth $314,267,000 after purchasing an additional 628,211 shares in the last quarter. Stifel Financial Corp increased its holdings in shares of Biohaven by 0.8% during the fourth 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. JPMorgan Chase & Co. increased its holdings in shares of Biohaven by 144.5% during the fourth quarter. JPMorgan Chase & Co. now owns 1,979,169 shares of the company's stock worth $73,922,000 after purchasing an additional 1,169,721 shares during the period. Geode Capital Management LLC raised its position in shares of Biohaven by 11.1% in the fourth quarter. Geode Capital Management LLC now owns 1,905,366 shares of the company's stock valued at $71,182,000 after buying an additional 190,754 shares in the last quarter. Finally, ARS Investment Partners LLC boosted its stake in shares of Biohaven by 1.0% in the fourth quarter. ARS Investment Partners LLC now owns 1,040,712 shares of the company's stock valued at $38,871,000 after buying an additional 10,473 shares during the period. 88.78% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Morgan Stanley lowered their price objective on Biohaven from $69.00 to $63.00 and set an "overweight" rating on the stock in a research note on Friday, March 7th. HC Wainwright reissued a "buy" rating and set a $54.00 target price on shares of Biohaven in a report on Tuesday, March 4th. JPMorgan Chase & Co. dropped their price target on Biohaven from $72.00 to $68.00 and set an "overweight" rating for the company in a research note on Wednesday, March 5th. William Blair raised shares of Biohaven to a "strong-buy" rating in a research report on Thursday, April 24th. Finally, Royal Bank of Canada decreased their target price on shares of Biohaven from $61.00 to $54.00 and set an "outperform" rating on the stock in a report on Tuesday, May 13th. Thirteen equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Biohaven currently has a consensus rating of "Buy" and an average price target of $62.00.

Insiders Place Their Bets

In other news, Director John W. Childs purchased 32,700 shares of the business's stock in a transaction dated Tuesday, March 4th. The shares were purchased at an average cost of $30.47 per share, with a total value of $996,369.00. Following the completion of the purchase, the director now owns 2,320,571 shares of the company's stock, valued at $70,707,798.37. This trade represents a 1.43% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Insiders own 16.00% of the company's stock.

Biohaven Trading Up 1.6%

NYSE:BHVN traded up $0.25 on Friday, hitting $16.07. The company had a trading volume of 3,838,777 shares, compared to its average volume of 1,213,319. Biohaven Ltd. has a 52 week low of $14.69 and a 52 week high of $55.70. The stock has a market capitalization of $1.64 billion, a price-to-earnings ratio of -1.72 and a beta of 1.18. The firm has a 50 day moving average of $22.31 and a two-hundred day moving average of $34.20.

Biohaven (NYSE:BHVN - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The company reported ($2.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.67) by ($0.50). As a group, equities analysts forecast that Biohaven Ltd. will post -8.9 EPS for the current 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.