Magnetar Financial LLC Purchases 32,702 Shares of Biohaven Ltd. (NYSE:BHVN)

Magnetar Financial LLC increased its position in Biohaven Ltd. (NYSE:BHVN) by 498.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,260 shares of the company’s stock after buying an additional 32,702 shares during the quarter. Magnetar Financial LLC’s holdings in Biohaven were worth $1,466,000 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. Point72 Asset Management L.P. lifted its position in Biohaven by 745.9% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,500,284 shares of the company’s stock worth $74,969,000 after buying an additional 1,322,922 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Biohaven by 563.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 508,622 shares of the company’s stock worth $25,416,000 after buying an additional 431,954 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Biohaven by 85.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 809,448 shares of the company’s stock worth $40,448,000 after buying an additional 372,737 shares during the last quarter. Janus Henderson Group PLC lifted its position in Biohaven by 5.6% in the 3rd quarter. Janus Henderson Group PLC now owns 6,226,393 shares of the company’s stock worth $311,142,000 after buying an additional 328,099 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position in Biohaven by 600.9% in the 3rd quarter. Wellington Management Group LLP now owns 243,167 shares of the company’s stock worth $12,151,000 after buying an additional 208,472 shares during the last quarter. Institutional investors own 88.78% of the company’s stock.

Biohaven Stock Down 2.1 %

Shares of BHVN stock opened at $28.16 on Friday. The stock has a market cap of $2.87 billion, a price-to-earnings ratio of -3.01 and a beta of 1.27. The business’s fifty day moving average is $36.06 and its 200 day moving average is $41.68. Biohaven Ltd. has a twelve month low of $26.80 and a twelve month high of $60.46.

Biohaven (NYSE:BHVN) last issued its quarterly earnings results on Monday, March 3rd. The company reported ($1.85) earnings per share for the quarter, missing the consensus estimate of ($1.56) by ($0.29). Equities research analysts expect that Biohaven Ltd. will post -8.9 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director John W. Childs bought 32,700 shares of the company’s stock in a transaction on Tuesday, March 4th. The shares were acquired at an average cost of $30.47 per share, with a total value of $996,369.00. Following the completion of the acquisition, the director now owns 2,320,571 shares of the company’s stock, valued at $70,707,798.37. The trade was a 1.43 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 16.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

BHVN has been the topic of a number of analyst reports. 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, March 4th. HC Wainwright reaffirmed a “buy” rating and issued a $54.00 price target on shares of Biohaven in a research note on Tuesday, March 4th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Biohaven in a research note on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft initiated coverage on Biohaven in a research note on Tuesday, February 11th. They issued a “buy” rating and a $65.00 price target on the stock. Finally, Morgan Stanley decreased their price target on Biohaven from $69.00 to $63.00 and set an “overweight” rating on the stock in a research note on Friday, March 7th. Fourteen research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Biohaven has a consensus rating of “Buy” and an average price target of $63.15.

About Biohaven

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.