Farallon Capital Management LLC Buys 1,449,000 Shares of Biohaven Ltd. (NYSE:BHVN)

Farallon Capital Management LLC increased its stake in shares of Biohaven Ltd. (NYSE:BHVN) by 181.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,248,000 shares of the company’s stock after acquiring an additional 1,449,000 shares during the period. Farallon Capital Management LLC owned about 2.55% of Biohaven worth $78,028,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of BHVN. Vanguard Group Inc. raised its stake in shares of Biohaven by 280.5% during the 1st quarter. Vanguard Group Inc. now owns 6,308,853 shares of the company’s stock worth $345,031,000 after purchasing an additional 4,650,702 shares in the last quarter. Stifel Financial Corp raised its position in Biohaven by 7.9% during the fourth quarter. Stifel Financial Corp now owns 6,225,811 shares of the company’s stock worth $266,465,000 after acquiring an additional 456,062 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Biohaven by 6.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,347,022 shares of the company’s stock valued at $183,050,000 after acquiring an additional 212,699 shares during the last quarter. Point72 Asset Management L.P. grew its position in shares of Biohaven by 142.2% in the 4th quarter. Point72 Asset Management L.P. now owns 2,483,567 shares of the company’s stock valued at $106,297,000 after acquiring an additional 1,458,072 shares during the period. Finally, Perceptive Advisors LLC grew its position in shares of Biohaven by 129.4% in the 4th quarter. Perceptive Advisors LLC now owns 1,725,047 shares of the company’s stock valued at $73,832,000 after acquiring an additional 973,227 shares during the period. 88.78% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director John W. Childs bought 28,400 shares of the firm’s stock in a transaction on Thursday, July 18th. The shares were purchased at an average cost of $35.67 per share, with a total value of $1,013,028.00. Following the acquisition, the director now directly owns 2,339,741 shares in the company, valued at $83,458,561.47. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 16.00% of the stock is currently owned by company insiders.

Biohaven Trading Up 13.7 %

Shares of BHVN stock opened at $45.93 on Tuesday. The stock has a market cap of $4.06 billion, a P/E ratio of -6.72 and a beta of 1.30. Biohaven Ltd. has a 1 year low of $16.48 and a 1 year high of $62.21. The stock has a 50 day simple moving average of $38.50 and a 200 day simple moving average of $40.74.

Biohaven (NYSE:BHVN) last released its earnings results on Thursday, August 8th. The company reported ($3.64) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.72) by ($1.92). Analysts forecast that Biohaven Ltd. will post -8.92 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently issued reports on BHVN. Piper Sandler raised their target price on shares of Biohaven from $66.00 to $76.00 and gave the company an “overweight” rating in a research note on Monday. William Blair raised Biohaven to a “strong-buy” rating in a research report on Friday, August 30th. Cantor Fitzgerald reissued an “overweight” rating on shares of Biohaven in a report on Monday, August 19th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $59.00 price target on shares of Biohaven in a report on Wednesday, September 4th. Finally, Leerink Partners increased their price objective on shares of Biohaven from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Monday. Twelve investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $59.00.

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.