Avidity Partners Management LP purchased a new stake in Biohaven Ltd. (NYSE:BHVN – Get Rating) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 1,492,000 shares of the company’s stock, valued at approximately $20,709,000. Avidity Partners Management LP owned approximately 2.19% of Biohaven as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Alpine Associates Management Inc. increased its holdings in Biohaven by 15.2% during the 3rd quarter. Alpine Associates Management Inc. now owns 615,200 shares of the company’s stock valued at $92,999,000 after acquiring an additional 81,400 shares in the last quarter. Water Island Capital LLC grew its holdings in shares of Biohaven by 13.1% during the third quarter. Water Island Capital LLC now owns 221,829 shares of the company’s stock worth $33,534,000 after buying an additional 25,696 shares in the last quarter. Balyasny Asset Management LLC grew its holdings in shares of Biohaven by 82.9% during the third quarter. Balyasny Asset Management LLC now owns 610,571 shares of the company’s stock worth $92,300,000 after buying an additional 276,732 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Biohaven during the third quarter worth about $2,393,000. Finally, Ethic Inc. purchased a new stake in shares of Biohaven during the third quarter worth about $290,000. 98.01% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of brokerages have recently commented on BHVN. BTIG Research lifted their price target on shares of Biohaven from $24.00 to $28.00 in a report on Monday, June 5th. Cantor Fitzgerald lifted their price target on shares of Biohaven from $27.00 to $31.00 and gave the stock an “overweight” rating in a report on Tuesday, April 4th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $38.83.
Biohaven Stock Performance
Biohaven (NYSE:BHVN – Get Rating) last released its earnings results on Thursday, March 23rd. The company reported ($3.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.24) by ($2.08). As a group, sell-side analysts expect that Biohaven Ltd. will post -4.72 earnings per share for the current fiscal year.
About Biohaven
Biohaven Ltd., a clinical-stage biopharmaceutical company, focuses on discovering, developing, and commercializing therapies for patients with debilitating neurological and neuropsychiatric diseases in the United States. The company's pipeline products include BHV-7000, a potassium channel activator for the treatment of focal epilepsy; BHV-7010, a Kv7 channel modulator for the treatment of different neurological diseases; Troriluzole, a tripeptide prodrug that is in Phase 3 clinical trial for the treatment of neurological and neuropsychiatric illnesses; BHV-5500, a low-trapping glutamate N-methyl-D-aspartate receptor antagonist for neuropathic pain; and Verdiperstat, an oral myeloperoxidase inhibitor, which is in Phase 3 clinical trial for the treatment of neurodegenerative diseases.
Featured Articles
- Get a free copy of the StockNews.com research report on Biohaven (BHVN)
- As Peloton Shares Fall Over 90%, A Comeback Strategy Surges
- Inflation, The Fed, And The Summer Rally
- How to Trade Stocks Online the Right Way
- SentinelOne Stock is Down, But Is it Out?
- Oracle Has Spoken: The AI Cloud Is Bigger And Growing Faster
Receive News & Ratings for Biohaven Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Biohaven and related companies with MarketBeat.com's FREE daily email newsletter.
