Magnetar Financial LLC Buys 32,702 Shares of Biohaven Ltd. (NYSE:BHVN)

Magnetar Financial LLC grew its stake in Biohaven Ltd. (NYSE:BHVN) by 498.7% during the 4th quarter, HoldingsChannel reports. The fund owned 39,260 shares of the company’s stock after purchasing an additional 32,702 shares during the quarter. Magnetar Financial LLC’s holdings in Biohaven were worth $1,466,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in BHVN. Spire Wealth Management bought a new position in shares of Biohaven during the fourth quarter valued at $56,000. Amalgamated Bank lifted its holdings in shares of Biohaven by 21.9% during the fourth quarter. Amalgamated Bank now owns 2,929 shares of the company’s stock valued at $109,000 after purchasing an additional 527 shares in the last quarter. US Bancorp DE lifted its holdings in shares of Biohaven by 36.7% during the fourth quarter. US Bancorp DE now owns 2,971 shares of the company’s stock valued at $111,000 after purchasing an additional 798 shares in the last quarter. KBC Group NV lifted its holdings in shares of 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 purchasing an additional 443 shares in the last quarter. Finally, Diversified Trust Co lifted its holdings in shares of Biohaven by 16.6% during the fourth quarter. Diversified Trust Co now owns 5,585 shares of the company’s stock valued at $209,000 after purchasing an additional 795 shares in the last quarter. 88.78% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on BHVN shares. Deutsche Bank Aktiengesellschaft started coverage on Biohaven in a report on Tuesday, February 11th. They set a “buy” rating and a $65.00 price target on the stock. JPMorgan Chase & Co. reduced their price objective on Biohaven from $72.00 to $68.00 and set an “overweight” rating for the company in a research report on Wednesday, March 5th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Biohaven in a research report on Tuesday, December 17th. Morgan Stanley reduced their price objective on Biohaven from $69.00 to $63.00 and set an “overweight” rating for the company in a research report on Friday, March 7th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $61.00 price objective on shares of Biohaven in a research report on Tuesday, March 4th. Fourteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $63.15.

Insider Activity at Biohaven

In related news, Director John W. Childs acquired 29,000 shares of the stock in a transaction dated Monday, December 30th. The stock was acquired at an average cost of $35.94 per share, with a total value of $1,042,260.00. Following the purchase, the director now directly owns 2,368,741 shares of the company’s stock, valued at approximately $85,132,551.54. This trade represents a 1.24 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 16.00% of the stock is owned by corporate insiders.

Biohaven Trading Down 2.1 %

NYSE:BHVN opened at $28.16 on Friday. Biohaven Ltd. has a 12-month low of $26.80 and a 12-month high of $60.46. The stock has a 50-day moving average price of $36.06 and a 200 day moving average price of $41.68. The stock has a market capitalization of $2.87 billion, a P/E ratio of -3.01 and a beta of 1.27.

Biohaven (NYSE:BHVN) last released its earnings results on Monday, March 3rd. The company reported ($1.85) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.56) by ($0.29). On average, research analysts predict that Biohaven Ltd. will post -8.9 earnings per share for the current fiscal year.

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.