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

Magnetar Financial LLC grew its position in Biohaven Ltd. (NYSE:BHVN - Free Report) by 498.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 39,260 shares of the company's stock after buying 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.

A number of other hedge funds have also added to or reduced their stakes in the company. KBC Group NV lifted its position in shares of Biohaven by 24.5% during the 3rd quarter. KBC Group NV now owns 2,250 shares of the company's stock worth $112,000 after buying an additional 443 shares during the last quarter. Intech Investment Management LLC bought a new position in shares of Biohaven in the third quarter worth about $565,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Biohaven by 5.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 632,690 shares of the company's stock worth $31,616,000 after acquiring an additional 32,769 shares during the last quarter. Citigroup Inc. boosted its stake in shares of Biohaven by 125.8% in the 3rd quarter. Citigroup Inc. now owns 119,905 shares of the company's stock valued at $5,992,000 after purchasing an additional 66,801 shares in the last quarter. Finally, Algert Global LLC grew its holdings in shares of Biohaven by 337.6% during the 3rd quarter. Algert Global LLC now owns 32,392 shares of the company's stock valued at $1,619,000 after purchasing an additional 24,990 shares during the last quarter. 88.78% of the stock is owned by institutional investors.

Biohaven Stock Performance

Shares of BHVN stock traded down $1.24 during mid-day trading on Tuesday, hitting $29.80. The company's stock had a trading volume of 894,665 shares, compared to its average volume of 1,055,843. The company has a market cap of $3.04 billion, a PE ratio of -3.19 and a beta of 1.27. The company's fifty day simple moving average is $35.76 and its 200-day simple moving average is $41.61. Biohaven Ltd. has a 52 week low of $26.80 and a 52 week high of $59.53.

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Biohaven (NYSE:BHVN - Get Free Report) last issued its earnings results on Monday, March 3rd. The company reported ($1.85) earnings per share for the quarter, missing analysts' consensus estimates of ($1.56) by ($0.29). On average, equities analysts anticipate that Biohaven Ltd. will post -8.9 earnings per share for the current year.

Insider Activity

In other news, Director John W. Childs bought 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, for a total transaction of $996,369.00. Following the purchase, the director now directly owns 2,320,571 shares in the company, valued at approximately $70,707,798.37. This represents a 1.43 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 16.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently commented on BHVN shares. Morgan Stanley dropped their price objective on shares of Biohaven from $69.00 to $63.00 and set an "overweight" rating for the company in a research note on Friday, March 7th. JPMorgan Chase & Co. dropped their price target on Biohaven from $72.00 to $68.00 and set an "overweight" rating for the company in a research note on Wednesday, March 5th. Cantor Fitzgerald restated an "overweight" rating on shares of Biohaven in a research report on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft assumed coverage on Biohaven in a research report on Tuesday, February 11th. They issued a "buy" rating and a $65.00 target price for the company. Finally, Royal Bank of Canada restated an "outperform" rating and set a $61.00 price target on shares of Biohaven in a 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $63.15.

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.