Jennison Associates LLC Buys Shares of 266,391 Biohaven Ltd. (NYSE:BHVN)

Jennison Associates LLC bought a new position in Biohaven Ltd. (NYSE:BHVN - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 266,391 shares of the company's stock, valued at approximately $11,402,000. Jennison Associates LLC owned 0.33% of Biohaven as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Redmile Group LLC bought a new stake in shares of Biohaven during the 3rd quarter valued at about $13,497,000. Armistice Capital LLC boosted its position in shares of Biohaven by 13.1% during the 3rd quarter. Armistice Capital LLC now owns 2,036,000 shares of the company's stock valued at $52,956,000 after acquiring an additional 236,000 shares during the last quarter. Rafferty Asset Management LLC boosted its position in shares of Biohaven by 80.8% during the 3rd quarter. Rafferty Asset Management LLC now owns 342,861 shares of the company's stock valued at $8,918,000 after acquiring an additional 153,271 shares during the last quarter. Stifel Financial Corp boosted its position in shares of Biohaven by 2.7% during the 3rd quarter. Stifel Financial Corp now owns 5,769,749 shares of the company's stock valued at $150,071,000 after acquiring an additional 150,000 shares during the last quarter. Finally, TD Asset Management Inc boosted its position in shares of Biohaven by 110.4% during the 3rd quarter. TD Asset Management Inc now owns 210,746 shares of the company's stock valued at $5,482,000 after acquiring an additional 110,573 shares during the last quarter. Institutional investors own 88.78% of the company's stock.

Insiders Place Their Bets

In related news, Director Gregory Bailey bought 25,503 shares of the company's stock in a transaction on Wednesday, April 24th. The shares were acquired at an average cost of $39.18 per share, with a total value of $999,207.54. Following the completion of the acquisition, the director now owns 1,600,071 shares of the company's stock, valued at approximately $62,690,781.78. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Biohaven news, Director Gregory Bailey purchased 25,503 shares of the firm's stock in a transaction dated Wednesday, April 24th. The stock was purchased at an average price of $39.18 per share, for a total transaction of $999,207.54. Following the completion of the purchase, the director now directly owns 1,600,071 shares of the company's stock, valued at $62,690,781.78. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Vlad Coric purchased 121,951 shares of the firm's stock in a transaction dated Monday, April 22nd. The stock was acquired at an average price of $41.00 per share, with a total value of $4,999,991.00. Following the purchase, the chief executive officer now directly owns 1,788,417 shares of the company's stock, valued at $73,325,097. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 196,234 shares of company stock valued at $7,999,179. 16.00% of the stock is currently owned by corporate insiders.

Biohaven Stock Performance

Shares of NYSE BHVN traded up $0.45 during mid-day trading on Friday, hitting $38.99. 947,802 shares of the stock traded hands, compared to its average volume of 1,254,132. Biohaven Ltd. has a 52 week low of $12.35 and a 52 week high of $62.21. The company has a market cap of $3.44 billion, a price-to-earnings ratio of -6.89 and a beta of 1.18. The stock has a fifty day moving average price of $51.11 and a 200-day moving average price of $41.77.

Biohaven (NYSE:BHVN - Get Free Report) last released its quarterly earnings results on Thursday, February 29th. The company reported ($1.81) earnings per share for the quarter, missing the consensus estimate of ($1.41) by ($0.40). As a group, sell-side analysts predict that Biohaven Ltd. will post -5.85 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

BHVN has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lifted their price target on Biohaven from $32.00 to $56.00 and gave the company an "overweight" rating in a research report on Friday, February 23rd. UBS Group raised their price objective on Biohaven from $59.00 to $60.00 and gave the company a "buy" rating in a report on Tuesday. TD Cowen raised their price objective on Biohaven from $35.00 to $55.00 and gave the company an "outperform" rating in a report on Friday, March 1st. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Biohaven in a research note on Thursday, April 18th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $61.00 price target on shares of Biohaven in a research note on Tuesday, April 9th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, Biohaven currently has a consensus rating of "Buy" and an average target price of $52.13.

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.