Fred Alger Management LLC Raises Holdings in Biohaven Ltd. (NYSE:BHVN)

Fred Alger Management LLC lifted its holdings in Biohaven Ltd. (NYSE:BHVN) by 44.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,142 shares of the company’s stock after buying an additional 17,848 shares during the quarter. Fred Alger Management LLC’s holdings in Biohaven were worth $2,905,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BHVN. DNB Asset Management AS purchased a new stake in shares of Biohaven during the 2nd quarter worth $285,000. CWM LLC grew its position in Biohaven by 1,893.4% during the second quarter. CWM LLC now owns 14,552 shares of the company’s stock worth $505,000 after buying an additional 13,822 shares during the period. SG Americas Securities LLC grew its position in Biohaven by 114.6% during the second quarter. SG Americas Securities LLC now owns 25,255 shares of the company’s stock worth $877,000 after buying an additional 13,485 shares during the period. Oak Ridge Investments LLC lifted its position in shares of Biohaven by 197.6% during the 2nd quarter. Oak Ridge Investments LLC now owns 22,000 shares of the company’s stock valued at $764,000 after acquiring an additional 14,607 shares during the period. Finally, ARS Investment Partners LLC lifted its position in shares of Biohaven by 47.8% during the 2nd quarter. ARS Investment Partners LLC now owns 940,512 shares of the company’s stock valued at $32,645,000 after acquiring an additional 304,141 shares during the period. Institutional investors and hedge funds own 88.78% of the company’s stock.

Insider Transactions at Biohaven

In other Biohaven news, Director Gregory Bailey bought 5,000 shares of Biohaven stock in a transaction that occurred on Tuesday, September 24th. The shares were acquired at an average price of $44.19 per share, for a total transaction of $220,950.00. Following the acquisition, the director now owns 1,620,071 shares of the company’s stock, valued at $71,590,937.49. The trade was a 0.31 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John W. Childs bought 21,052 shares of Biohaven stock in a transaction that occurred on Wednesday, October 2nd. The shares were acquired at an average price of $47.50 per share, for a total transaction of $999,970.00. Following the acquisition, the director now directly owns 21,052 shares in the company, valued at approximately $999,970. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 16.00% of the company’s stock.

Biohaven Price Performance

BHVN opened at $46.01 on Monday. The stock has a market capitalization of $4.65 billion, a price-to-earnings ratio of -4.92 and a beta of 1.31. Biohaven Ltd. has a 12 month low of $26.80 and a 12 month high of $62.21. The business has a 50-day moving average of $49.77 and a two-hundred day moving average of $41.40.

Biohaven (NYSE:BHVN) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($1.70) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.67) by ($0.03). Equities research analysts anticipate that Biohaven Ltd. will post -8.85 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. TD Cowen raised their price objective on Biohaven from $55.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. William Blair upgraded shares of Biohaven to a “strong-buy” rating in a research report on Friday, August 30th. Leerink Partners increased their price objective on shares of Biohaven from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Monday, September 23rd. JPMorgan Chase & Co. lifted their target price on shares of Biohaven from $55.00 to $68.00 and gave the stock an “overweight” rating in a research report on Thursday, October 3rd. Finally, UBS Group lowered their price target on shares of Biohaven from $55.00 to $54.00 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. Thirteen analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $62.75.

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.