Squarepoint Ops LLC Buys New Position in Biohaven Ltd. (NYSE:BHVN)

Squarepoint Ops LLC purchased a new position in shares of Biohaven Ltd. (NYSE:BHVN) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 17,064 shares of the company’s stock, valued at approximately $592,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC purchased a new stake in shares of Biohaven in the second quarter valued at about $3,398,000. Logos Global Management LP acquired a new position in Biohaven in the 2nd quarter valued at about $8,678,000. Farallon Capital Management LLC increased its position in Biohaven by 181.4% in the 2nd quarter. Farallon Capital Management LLC now owns 2,248,000 shares of the company’s stock valued at $78,028,000 after acquiring an additional 1,449,000 shares during the period. Magnetar Financial LLC purchased a new stake in Biohaven during the 2nd quarter valued at approximately $2,061,000. Finally, Hood River Capital Management LLC lifted its position in Biohaven by 9.6% during the 2nd quarter. Hood River Capital Management LLC now owns 368,902 shares of the company’s stock worth $12,805,000 after acquiring an additional 32,448 shares during the period. Hedge funds and other institutional investors own 88.78% of the company’s stock.

Biohaven Price Performance

BHVN opened at $53.56 on Wednesday. The stock’s 50 day simple moving average is $41.03 and its 200 day simple moving average is $40.14. The stock has a market cap of $4.73 billion, a P/E ratio of -7.84 and a beta of 1.31. Biohaven Ltd. has a 1-year low of $23.73 and a 1-year high of $62.21.

Biohaven (NYSE:BHVN) last announced its quarterly 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). Research analysts expect that Biohaven Ltd. will post -8.92 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Robert W. Baird boosted their target price on Biohaven from $58.00 to $60.00 and gave the company an “outperform” rating in a report on Monday, September 23rd. JPMorgan Chase & Co. boosted their price objective on shares of Biohaven from $55.00 to $68.00 and gave the company an “overweight” rating in a research note on Thursday, October 3rd. Morgan Stanley initiated coverage on shares of Biohaven in a research report on Wednesday, July 24th. They set an “overweight” rating and a $58.00 price objective for the company. Sanford C. Bernstein lifted their target price on shares of Biohaven from $55.00 to $66.00 and gave the company an “outperform” rating in a report on Tuesday, September 24th. Finally, Royal Bank of Canada increased their price target on shares of Biohaven from $59.00 to $68.00 and gave the stock an “outperform” rating in a report on Tuesday, September 24th. Thirteen research 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 company has an average rating of “Buy” and an average target price of $61.92.

Insider Buying and Selling at Biohaven

In other Biohaven news, Director John W. Childs purchased 21,052 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were acquired at an average cost of $47.50 per share, for a total transaction of $999,970.00. Following the completion of the transaction, the director now directly owns 21,052 shares of the company’s stock, valued at $999,970. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director John W. Childs acquired 21,052 shares of Biohaven stock in a transaction dated Wednesday, October 2nd. The shares were acquired at an average cost of $47.50 per share, for a total transaction of $999,970.00. Following the completion of the transaction, the director now directly owns 21,052 shares of the company’s stock, valued at $999,970. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Gregory Bailey acquired 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The shares were bought at an average price of $44.19 per share, with a total value of $220,950.00. Following the transaction, the director now owns 1,620,071 shares in the company, valued at $71,590,937.49. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders acquired 54,452 shares of company stock worth $2,233,948. 16.00% of the stock is owned by corporate insiders.

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.