D. E. Shaw & Co. Inc. Has $6.37 Million Stake in Biohaven Ltd. (NYSE:BHVN)

D. E. Shaw & Co. Inc. lessened its position in shares of Biohaven Ltd. (NYSE:BHVN) by 70.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 170,647 shares of the company’s stock after selling 407,076 shares during the period. D. E. Shaw & Co. Inc.’s holdings in Biohaven were worth $6,374,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. JPMorgan Chase & Co. grew its position in Biohaven by 144.5% in the fourth quarter. JPMorgan Chase & Co. now owns 1,979,169 shares of the company’s stock valued at $73,922,000 after acquiring an additional 1,169,721 shares during the last quarter. Norges Bank bought a new stake in shares of Biohaven during the 4th quarter valued at approximately $33,711,000. Vanguard Group Inc. increased its position in Biohaven by 8.1% during the 4th quarter. Vanguard Group Inc. now owns 8,414,120 shares of the company’s stock worth $314,267,000 after purchasing an additional 628,211 shares in the last quarter. Wellington Management Group LLP lifted its stake in Biohaven by 160.7% in the 4th quarter. Wellington Management Group LLP now owns 634,055 shares of the company’s stock valued at $23,682,000 after purchasing an additional 390,888 shares during the last quarter. Finally, Boone Capital Management LLC bought a new position in Biohaven in the 4th quarter valued at approximately $13,499,000. Institutional investors and hedge funds own 88.78% of the company’s stock.

Biohaven Price Performance

NYSE:BHVN opened at $16.07 on Friday. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of -1.72 and a beta of 1.18. Biohaven Ltd. has a 1-year low of $14.69 and a 1-year high of $55.70. The business has a 50 day moving average of $22.31 and a 200 day moving average of $34.31.

Biohaven (NYSE:BHVN) last issued its earnings results on Monday, May 12th. The company reported ($2.17) EPS for the quarter, missing analysts’ consensus estimates of ($1.67) by ($0.50). As a group, sell-side analysts anticipate that Biohaven Ltd. will post -8.9 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on BHVN shares. Deutsche Bank Aktiengesellschaft set a $60.00 price target on shares of Biohaven and gave the stock a “buy” rating in a report on Thursday, March 20th. Robert W. Baird dropped their price objective on shares of Biohaven from $60.00 to $57.00 and set an “outperform” rating for the company in a report on Monday, April 28th. Cantor Fitzgerald upgraded shares of Biohaven to a “strong-buy” rating in a research report on Tuesday. HC Wainwright restated a “buy” rating and issued a $54.00 price target on shares of Biohaven in a research report on Tuesday, March 4th. Finally, Morgan Stanley decreased their price objective on Biohaven from $69.00 to $63.00 and set an “overweight” rating for the company in a report on Friday, March 7th. Thirteen analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $62.00.

Insider Activity

In other news, Director John W. Childs purchased 32,700 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was bought at an average cost of $30.47 per share, for a total transaction of $996,369.00. Following the acquisition, the director now directly owns 2,320,571 shares of the company’s stock, valued at $70,707,798.37. This represents a 1.43% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 16.00% of the stock is currently owned by corporate insiders.

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.