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

Fred Alger Management LLC increased its holdings in Biohaven Ltd. (NYSE:BHVN) by 79.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 104,567 shares of the company’s stock after buying an additional 46,425 shares during the period. Fred Alger Management LLC’s holdings in Biohaven were worth $3,906,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on BHVN shares. HC Wainwright reissued a “buy” rating and issued a $54.00 price target on shares of Biohaven in a report on Tuesday, March 4th. Robert W. Baird lowered their target price on shares of Biohaven from $60.00 to $57.00 and set an “outperform” rating on the stock in a research note on Monday, April 28th. 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. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $61.00 price target on shares of Biohaven in a report on Tuesday, March 4th. Finally, William Blair raised Biohaven to a “strong-buy” rating in a research note on Thursday, April 24th. Fourteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $62.54.

Insider Activity at Biohaven

In other Biohaven news, Director John W. Childs purchased 32,700 shares of the business’s stock in a transaction on Tuesday, March 4th. The stock was acquired at an average cost of $30.47 per share, for a total transaction of $996,369.00. Following the completion of the transaction, the director now directly owns 2,320,571 shares in the company, valued at approximately $70,707,798.37. This represents a 1.43 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 16.00% of the stock is owned by insiders.

Biohaven Trading Down 0.2 %

Shares of Biohaven stock opened at $20.20 on Friday. The firm has a market capitalization of $2.06 billion, a PE ratio of -2.16 and a beta of 1.18. Biohaven Ltd. has a 12 month low of $15.79 and a 12 month high of $55.70. The business’s 50-day moving average price is $23.44 and its 200-day moving average price is $35.48.

Biohaven (NYSE:BHVN) last issued its quarterly earnings results on Monday, March 3rd. The company reported ($1.85) EPS for the quarter, missing analysts’ consensus estimates of ($1.56) by ($0.29). As a group, analysts predict that Biohaven Ltd. will post -8.9 earnings per share for the current fiscal 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.