Fred Alger Management LLC Increases Holdings in Biohaven Ltd. (NYSE:BHVN)

Fred Alger Management LLC increased its holdings in Biohaven Ltd. (NYSE:BHVN - Free Report) by 79.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 104,567 shares of the company's stock after purchasing an additional 46,425 shares during the quarter. Fred Alger Management LLC owned approximately 0.10% of Biohaven worth $3,906,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of BHVN. Deutsche Bank AG increased its stake in shares of Biohaven by 25.0% during the fourth quarter. Deutsche Bank AG now owns 169,773 shares of the company's stock valued at $6,341,000 after buying an additional 33,987 shares during the period. DAFNA Capital Management LLC boosted its stake in shares of Biohaven by 17.7% during the 4th quarter. DAFNA Capital Management LLC now owns 220,235 shares of the company's stock valued at $8,226,000 after purchasing an additional 33,105 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of Biohaven during the fourth quarter valued at about $884,000. Boone Capital Management LLC purchased a new stake in Biohaven in the fourth quarter worth about $13,499,000. Finally, Brown Advisory Inc. grew its holdings in shares of Biohaven by 0.7% during the 4th quarter. Brown Advisory Inc. now owns 975,585 shares of the company's stock worth $36,438,000 after acquiring an additional 7,226 shares during the period. Hedge funds and other institutional investors own 88.78% of the company's stock.

Biohaven Trading Down 5.2%

BHVN stock traded down $1.06 during midday trading on Tuesday, reaching $19.50. 1,643,421 shares of the company's stock traded hands, compared to its average volume of 1,170,511. Biohaven Ltd. has a 52-week low of $15.79 and a 52-week high of $55.70. The stock has a market cap of $1.99 billion, a P/E ratio of -2.09 and a beta of 1.18. The stock's 50-day moving average is $23.01 and its 200 day moving average is $34.91.

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

Analyst Upgrades and Downgrades

BHVN has been the subject of several recent research reports. Robert W. Baird lowered their price objective on Biohaven from $60.00 to $57.00 and set an "outperform" rating for the company in a research report on Monday, April 28th. Morgan Stanley reduced their price target on shares of Biohaven from $69.00 to $63.00 and set an "overweight" rating for the company in a research report on Friday, March 7th. William Blair raised Biohaven to a "strong-buy" rating in a report on Thursday, April 24th. Royal Bank of Canada reduced their price objective on Biohaven from $61.00 to $54.00 and set an "outperform" rating for the company in a report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft set a $60.00 target price on shares of Biohaven and gave the company a "buy" rating in a research note on Thursday, March 20th. Fourteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $62.00.

Insider Activity at Biohaven

In other news, Director John W. Childs bought 32,700 shares of the firm's stock in a transaction on Tuesday, March 4th. The shares were bought at an average price of $30.47 per share, for a total transaction of $996,369.00. Following the purchase, the director now owns 2,320,571 shares in the company, valued at approximately $70,707,798.37. The trade was a 1.43% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 16.00% of the stock is currently owned by corporate insiders.

Biohaven Company 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.