Rock Springs Capital Management LP Purchases 2,300 Shares of Biohaven Ltd. (NYSE:BHVN)

Rock Springs Capital Management LP raised its holdings in Biohaven Ltd. (NYSE:BHVN) by 1.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 129,858 shares of the company’s stock after buying an additional 2,300 shares during the quarter. Rock Springs Capital Management LP owned 0.13% of Biohaven worth $4,850,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Teacher Retirement System of Texas increased its stake in Biohaven by 31.6% in the fourth quarter. Teacher Retirement System of Texas now owns 23,320 shares of the company’s stock valued at $871,000 after acquiring an additional 5,600 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Biohaven by 9.1% during the 4th quarter. Bank of New York Mellon Corp now owns 295,078 shares of the company’s stock worth $11,021,000 after buying an additional 24,703 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Biohaven by 85.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 809,448 shares of the company’s stock worth $40,448,000 after buying an additional 372,737 shares during the period. American Century Companies Inc. grew its position in Biohaven by 9.5% in the fourth quarter. American Century Companies Inc. now owns 558,761 shares of the company’s stock valued at $20,870,000 after acquiring an additional 48,286 shares during the period. Finally, Alliancebernstein L.P. raised its stake in Biohaven by 6.6% during the fourth quarter. Alliancebernstein L.P. now owns 96,236 shares of the company’s stock worth $3,594,000 after acquiring an additional 5,951 shares in the last quarter. Institutional investors and hedge funds own 88.78% of the company’s stock.

Insider Activity at Biohaven

In other news, Director John W. Childs acquired 32,700 shares of Biohaven stock in a transaction dated Tuesday, March 4th. The stock was bought at an average cost of $30.47 per share, with a total value of $996,369.00. Following the completion of the transaction, the director now directly owns 2,320,571 shares of the company’s stock, valued at approximately $70,707,798.37. This represents a 1.43 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 16.00% of the stock is owned by insiders.

Biohaven Trading Up 9.2 %

NYSE BHVN opened at $20.41 on Monday. The company has a market capitalization of $2.08 billion, a PE ratio of -2.18 and a beta of 1.33. Biohaven Ltd. has a 12 month low of $15.79 and a 12 month high of $55.70. The stock has a 50-day simple moving average of $28.43 and a 200 day simple moving average of $38.46.

Biohaven (NYSE:BHVN) last announced its quarterly 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). As a group, sell-side analysts predict that Biohaven Ltd. will post -8.9 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently weighed in on BHVN. HC Wainwright reaffirmed a “buy” rating and issued a $54.00 target price on shares of Biohaven in a report on Tuesday, March 4th. JPMorgan Chase & Co. reduced their target price on Biohaven from $72.00 to $68.00 and set an “overweight” rating on the stock in a report on Wednesday, March 5th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $61.00 price target on shares of Biohaven in a report on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft set a $60.00 price objective on Biohaven and gave the stock a “buy” rating in a research note on Thursday, March 20th. Finally, Morgan Stanley lowered their target price on Biohaven from $69.00 to $63.00 and set an “overweight” rating for the company in a research note on Friday, March 7th. Fourteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $62.77.

Biohaven 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.