23,671 Shares in Biohaven Ltd. (NYSE:BHVN) Acquired by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC bought a new position in shares of Biohaven Ltd. (NYSE:BHVN) during the fourth quarter, Holdings Channel.com reports. The fund bought 23,671 shares of the company’s stock, valued at approximately $884,000.

A number of other institutional investors have also made changes to their positions in the business. Boone Capital Management LLC acquired a new position in shares of Biohaven during the 4th quarter worth approximately $13,499,000. Brown Advisory Inc. grew its holdings in Biohaven by 0.7% in 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. Bank of America Corp DE grew its holdings in Biohaven by 40.5% in the 4th quarter. Bank of America Corp DE now owns 310,559 shares of the company’s stock valued at $11,599,000 after buying an additional 89,576 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in Biohaven in the 4th quarter valued at $1,560,000. Finally, Ameriprise Financial Inc. grew its holdings in Biohaven by 40.0% in the 4th quarter. Ameriprise Financial Inc. now owns 508,682 shares of the company’s stock valued at $18,994,000 after buying an additional 145,331 shares in the last quarter. 88.78% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director John W. Childs bought 32,700 shares of the stock in a transaction on Tuesday, March 4th. The stock was acquired at an average price of $30.47 per share, with a total value of $996,369.00. Following the acquisition, the director now directly owns 2,320,571 shares in the company, valued at approximately $70,707,798.37. This trade represents a 1.43% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 16.00% of the company’s stock.

Biohaven Stock Performance

NYSE:BHVN opened at $19.51 on Thursday. The stock has a fifty day moving average price of $22.81 and a 200-day moving average price of $34.80. The company has a market cap of $1.99 billion, a price-to-earnings ratio of -2.09 and a beta of 1.18. Biohaven Ltd. has a fifty-two week low of $15.79 and a fifty-two week high of $55.70.

Biohaven (NYSE:BHVN) last announced its quarterly earnings data 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). Research analysts predict that Biohaven Ltd. will post -8.9 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Morgan Stanley decreased their price objective on Biohaven from $69.00 to $63.00 and set an “overweight” rating on the stock in a report on Friday, March 7th. Robert W. Baird decreased their price objective on Biohaven from $60.00 to $57.00 and set an “outperform” rating on the stock in a report on Monday, April 28th. William Blair raised Biohaven to a “strong-buy” rating in a report on Thursday, April 24th. JPMorgan Chase & Co. decreased their price objective on Biohaven from $72.00 to $68.00 and set an “overweight” rating on the stock in a report on Wednesday, March 5th. Finally, Deutsche Bank Aktiengesellschaft set a $60.00 price objective on Biohaven and gave the company a “buy” rating in a report on Thursday, March 20th. Fourteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Biohaven presently has a consensus rating of “Buy” and a consensus target price of $62.00.

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.