Jennison Associates LLC Has $451,000 Position in Biohaven Ltd. (NYSE:BHVN)

Jennison Associates LLC trimmed its holdings in shares of Biohaven Ltd. (NYSE:BHVN - Free Report) by 80.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 18,741 shares of the company's stock after selling 78,791 shares during the period. Jennison Associates LLC's holdings in Biohaven were worth $451,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of BHVN. Parallel Advisors LLC increased its holdings in shares of Biohaven by 319.8% during the first quarter. Parallel Advisors LLC now owns 1,360 shares of the company's stock valued at $33,000 after purchasing an additional 1,036 shares during the period. KBC Group NV grew its holdings in Biohaven by 35.0% during the first quarter. KBC Group NV now owns 4,560 shares of the company's stock worth $110,000 after acquiring an additional 1,183 shares during the period. Quarry LP acquired a new position in Biohaven during the fourth quarter worth about $112,000. Lazard Asset Management LLC grew its holdings in Biohaven by 47.4% during the fourth quarter. Lazard Asset Management LLC now owns 3,207 shares of the company's stock worth $119,000 after acquiring an additional 1,031 shares during the period. Finally, Elkhorn Partners Limited Partnership grew its holdings in Biohaven by 50.0% during the fourth quarter. Elkhorn Partners Limited Partnership now owns 3,300 shares of the company's stock worth $123,000 after acquiring an additional 1,100 shares during the period. 88.78% of the stock is owned by institutional investors and hedge funds.

Biohaven Stock Performance

Shares of NYSE BHVN traded down $0.06 during trading hours on Friday, hitting $13.63. The stock had a trading volume of 711,856 shares, compared to its average volume of 1,613,843. The company has a market capitalization of $1.39 billion, a P/E ratio of -1.46 and a beta of 0.91. The firm's 50-day moving average price is $14.90 and its two-hundred day moving average price is $24.57. Biohaven Ltd. has a 52 week low of $13.04 and a 52 week high of $55.70.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on BHVN. Cantor Fitzgerald raised Biohaven to a "strong-buy" rating in a research note on Tuesday, May 13th. Robert W. Baird dropped their price target on Biohaven from $60.00 to $57.00 and set an "outperform" rating on the stock in a research note on Monday, April 28th. Royal Bank Of Canada cut Biohaven from an "outperform" rating to a "sector perform" rating and dropped their price target for the stock from $54.00 to $21.00 in a research note on Monday, May 19th. William Blair raised Biohaven to a "strong-buy" rating in a research note on Thursday, April 24th. Finally, JPMorgan Chase & Co. dropped their price target on Biohaven from $68.00 to $55.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 18th. One equities research analyst has rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $58.46.

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.