Jennison Associates LLC Makes New $3.64 Million Investment in Biohaven Ltd. (NYSE:BHVN)

Jennison Associates LLC purchased a new position in Biohaven Ltd. (NYSE:BHVN - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 97,532 shares of the company's stock, valued at approximately $3,643,000. Jennison Associates LLC owned about 0.10% of Biohaven at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in BHVN. AQR Capital Management LLC raised its holdings in Biohaven by 234.3% in the 2nd quarter. AQR Capital Management LLC now owns 54,361 shares of the company's stock valued at $1,887,000 after acquiring an additional 38,101 shares during the last quarter. Algert Global LLC lifted its position in Biohaven by 5.9% during the second quarter. Algert Global LLC now owns 7,402 shares of the company's stock worth $257,000 after buying an additional 412 shares in the last quarter. Handelsbanken Fonder AB boosted its stake in Biohaven by 20.3% during the third quarter. Handelsbanken Fonder AB now owns 20,700 shares of the company's stock worth $1,034,000 after buying an additional 3,500 shares during the last quarter. Diversified Trust Co purchased a new stake in Biohaven in the 3rd quarter valued at $239,000. Finally, Cypress Wealth Services LLC acquired a new stake in shares of Biohaven in the 3rd quarter worth $224,000. 88.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on BHVN shares. TD Cowen lifted their price target 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. Royal Bank of Canada restated 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 price target on shares of Biohaven in a report on Tuesday, December 17th. Finally, Cantor Fitzgerald restated an "overweight" rating on shares of Biohaven in a report on Tuesday, December 17th. Thirteen analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Biohaven presently has a consensus rating of "Buy" and a consensus price target of $63.00.

Insider Activity at Biohaven

In other news, Director John W. Childs acquired 29,000 shares of the stock in a transaction that occurred on Monday, December 30th. The shares were purchased at an average cost of $35.94 per share, for a total transaction of $1,042,260.00. Following the transaction, the director now directly owns 2,368,741 shares in the company, valued at approximately $85,132,551.54. This represents a 1.24 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 16.00% of the stock is owned by insiders.

Biohaven Price Performance

Shares of Biohaven stock traded down $0.18 during trading hours on Monday, hitting $38.25. The company had a trading volume of 718,768 shares, compared to its average volume of 880,214. The company's 50-day moving average is $38.77 and its two-hundred day moving average is $42.62. The company has a market cap of $3.87 billion, a P/E ratio of -4.09 and a beta of 1.28. Biohaven Ltd. has a twelve month low of $26.80 and a twelve month high of $62.21.

Biohaven (NYSE:BHVN - Get Free Report) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($1.70) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.67) by ($0.03). Sell-side analysts expect that Biohaven Ltd. will post -8.9 EPS for the current year.

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.