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

Renaissance Technologies LLC bought a new position in Biohaven Ltd. (NYSE:BHVN) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 160,952 shares of the company’s stock, valued at approximately $1,362,000. Renaissance Technologies LLC owned about 0.11% of Biohaven at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Raymond James Financial reissued a “strong-buy” rating on shares of Biohaven in a research note on Wednesday, May 27th. HC Wainwright reaffirmed a “neutral” rating and set a $10.00 price objective on shares of Biohaven in a research note on Tuesday, May 26th. Royal Bank Of Canada lifted their price objective on Biohaven from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Tuesday. Bank of America reissued an “underperform” rating and issued a $11.00 target price (down from $12.00) on shares of Biohaven in a research note on Monday, June 29th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Biohaven in a report on Tuesday, June 2nd. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Biohaven has an average rating of “Moderate Buy” and an average price target of $21.75.

Biohaven Trading Up 3.4%

Shares of BHVN opened at $14.88 on Friday. The stock has a market capitalization of $2.25 billion, a P/E ratio of -3.21 and a beta of 1.26. The company has a quick ratio of 7.41, a current ratio of 7.41 and a debt-to-equity ratio of 1.87. The firm has a fifty day simple moving average of $14.24 and a two-hundred day simple moving average of $11.66. Biohaven Ltd. has a twelve month low of $7.48 and a twelve month high of $18.57.

Biohaven (NYSE:BHVN) last released its quarterly earnings data 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). On average, research analysts anticipate that Biohaven Ltd. will post -3.1 EPS for the current year.

Biohaven Company Profile

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.