Renaissance Technologies LLC Buys New Position in Biohaven Ltd. $BHVN

Renaissance Technologies LLC purchased a new position in Biohaven Ltd. (NYSE:BHVN) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 160,952 shares of the company’s stock, valued at approximately $1,362,000.

Several other large investors have also added to or reduced their stakes in the stock. Suvretta Capital Management LLC increased its position in Biohaven by 83.0% during the 4th quarter. Suvretta Capital Management LLC now owns 10,286,937 shares of the company’s stock valued at $116,140,000 after purchasing an additional 4,666,666 shares during the period. Infinitum Asset Management LLC raised its holdings in Biohaven by 267.6% in the 4th quarter. Infinitum Asset Management LLC now owns 6,250,000 shares of the company’s stock worth $70,562,000 after purchasing an additional 4,550,000 shares in the last quarter. Stifel Financial Corp lifted its position in shares of Biohaven by 50.3% in the 4th quarter. Stifel Financial Corp now owns 9,939,856 shares of the company’s stock worth $112,221,000 after purchasing an additional 3,328,506 shares during the period. Schonfeld Strategic Advisors LLC lifted its position in shares of Biohaven by 3,829.9% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 1,606,777 shares of the company’s stock worth $18,141,000 after purchasing an additional 1,565,891 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of Biohaven by 52.9% during the 4th quarter. Vanguard Group Inc. now owns 4,395,946 shares of the company’s stock valued at $49,630,000 after purchasing an additional 1,520,756 shares in the last quarter. Institutional investors own 88.78% of the company’s stock.

Biohaven Stock Up 3.4%

Shares of Biohaven stock opened at $14.88 on Friday. The company has a debt-to-equity ratio of 1.87, a current ratio of 7.41 and a quick ratio of 7.41. The company has a 50-day moving average of $14.24 and a 200 day moving average of $11.66. The firm has a market cap of $2.25 billion, a price-to-earnings ratio of -3.21 and a beta of 1.26. Biohaven Ltd. has a 1 year low of $7.48 and a 1 year high of $18.57.

Biohaven (NYSE:BHVN) last issued its quarterly earnings results on Monday, August 10th. The company reported ($0.91) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.15). As a group, sell-side analysts anticipate that Biohaven Ltd. will post -3.1 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BHVN. HC Wainwright reiterated a “neutral” rating and set a $10.00 price target on shares of Biohaven in a research report on Tuesday, May 26th. Needham & Company LLC set a $11.00 price objective on shares of Biohaven in a report on Monday, June 29th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Biohaven in a research report on Tuesday, June 2nd. Morgan Stanley upped their target price on Biohaven from $18.00 to $19.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Royal Bank Of Canada increased their target price on Biohaven from $22.00 to $23.00 and gave the stock an “outperform” rating in a research report on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $21.75.

About Biohaven

Biohaven Ltd. (NYSE BHVN) is a clinical-stage biopharmaceutical company dedicated to developing and commercializing therapies for neurological and neurovascular diseases. Founded in 2013 as a spin-out from Yale University, Biohaven focuses on addressing high-unmet medical needs through innovative small-molecule and peptide-based platforms. The company is headquartered in New Haven, Connecticut, and maintains research activities across the United States, with collaborative ties in Europe and Asia via strategic partnerships.

The company’s most advanced program centers on calcitonin gene-related peptide (CGRP) receptor antagonists for the acute and preventive treatment of migraine.