Peregrine Capital Management LLC Makes New $5.56 Million Investment in Biohaven Ltd. (NYSE:BHVN)

Peregrine Capital Management LLC bought a new stake in shares of Biohaven Ltd. (NYSE:BHVN) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 148,879 shares of the company’s stock, valued at approximately $5,561,000. Peregrine Capital Management LLC owned about 0.15% of Biohaven at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in BHVN. nVerses Capital LLC acquired a new stake in Biohaven in the third quarter valued at $50,000. Spire Wealth Management bought a new position in shares of Biohaven during the fourth quarter worth about $56,000. Values First Advisors Inc. acquired a new position in Biohaven in the third quarter worth about $78,000. US Bancorp DE increased its holdings in Biohaven by 57.1% in the third quarter. US Bancorp DE now owns 2,173 shares of the company’s stock valued at $109,000 after buying an additional 790 shares during the last quarter. Finally, KBC Group NV raised its stake in Biohaven by 24.5% during the third quarter. KBC Group NV now owns 2,250 shares of the company’s stock valued at $112,000 after buying an additional 443 shares in the last quarter. Institutional investors and hedge funds own 88.78% of the company’s stock.

Insiders Place Their Bets

In related news, Director John W. Childs purchased 29,000 shares of Biohaven stock in a transaction dated Monday, December 30th. The stock was bought at an average cost of $35.94 per share, with a total value of $1,042,260.00. Following the purchase, the director now owns 2,368,741 shares in the company, valued at approximately $85,132,551.54. The trade was a 1.24 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 16.00% of the stock is currently owned by insiders.

Biohaven Price Performance

Shares of BHVN stock opened at $39.36 on Wednesday. Biohaven Ltd. has a 12-month low of $26.80 and a 12-month high of $62.21. The firm has a market capitalization of $3.98 billion, a price-to-earnings ratio of -4.21 and a beta of 1.28. The business has a 50 day simple moving average of $38.46 and a 200 day simple moving average of $42.74.

Analyst Ratings Changes

BHVN has been the subject of several research reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $61.00 target price (up previously from $58.00) on shares of Biohaven in a research report on Wednesday, December 4th. HC Wainwright reiterated a “buy” rating and set a $59.00 target price on shares of Biohaven in a research note on Tuesday, December 17th. Cantor Fitzgerald restated an “overweight” rating on shares of Biohaven in a research report on Tuesday, December 17th. TD Cowen boosted their price objective 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. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Biohaven in a research note on Tuesday, February 11th. They set a “buy” rating and a $65.00 price objective on the stock. Fourteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $63.15.

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.