Jennison Associates LLC Invests $3.64 Million in Biohaven Ltd. (NYSE:BHVN)

Jennison Associates LLC acquired a new position in shares of Biohaven Ltd. (NYSE:BHVN) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 97,532 shares of the company’s stock, valued at approximately $3,643,000.

Several other large investors also recently modified their holdings of the stock. Stifel Financial Corp grew its position in shares of Biohaven by 0.4% during the 3rd quarter. Stifel Financial Corp now owns 6,509,261 shares of the company’s stock worth $325,268,000 after buying an additional 28,684 shares during the period. Janus Henderson Group PLC grew 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 valued at $311,142,000 after purchasing an additional 328,099 shares during the period. Geode Capital Management LLC grew its position in Biohaven by 2.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,714,612 shares of the company’s stock valued at $85,696,000 after purchasing an additional 44,174 shares during the period. Point72 Asset Management L.P. grew 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 valued at $74,969,000 after purchasing an additional 1,322,922 shares during the period. Finally, ARS Investment Partners LLC grew its position in Biohaven by 1.0% in the 4th quarter. ARS Investment Partners LLC now owns 1,040,712 shares of the company’s stock valued at $38,871,000 after purchasing an additional 10,473 shares during the period. Institutional investors and hedge funds own 88.78% of the company’s stock.

Insider Transactions at Biohaven

In other news, Director John W. Childs acquired 29,000 shares of the stock in a transaction that occurred on Monday, December 30th. The shares were acquired at an average cost of $35.94 per share, for a total transaction of $1,042,260.00. Following the purchase, the director now owns 2,368,741 shares of the company’s stock, valued at approximately $85,132,551.54. The trade was a 1.24 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 16.00% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on BHVN shares. TD Cowen lifted their price target on shares of Biohaven from $55.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Cantor Fitzgerald reissued an “overweight” rating on shares of Biohaven in a research report on Tuesday, December 17th. HC Wainwright reissued a “buy” rating and issued a $59.00 price target on shares of Biohaven in a research report on Tuesday, December 17th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $61.00 price objective (up from $58.00) on shares of Biohaven in a report on Wednesday, December 4th. Thirteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Biohaven currently has an average rating of “Buy” and an average price target of $63.00.

Biohaven Price Performance

NYSE BHVN opened at $38.90 on Friday. The stock has a market capitalization of $3.93 billion, a price-to-earnings ratio of -4.16 and a beta of 1.28. Biohaven Ltd. has a one year low of $26.80 and a one year high of $62.21. The business’s fifty day moving average is $39.05 and its 200-day moving average is $42.56.

Biohaven (NYSE:BHVN) last released its earnings results on Tuesday, November 12th. The company reported ($1.70) EPS for the quarter, missing analysts’ consensus estimates of ($1.67) by ($0.03). Research analysts expect that Biohaven Ltd. will post -8.85 EPS for the current fiscal year.

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.