97,902 Shares in Biohaven Ltd. (NYSE:BHVN) Purchased by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC bought a new stake in shares of Biohaven Ltd. (NYSE:BHVN) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 97,902 shares of the company’s stock, valued at approximately $3,398,000. Cubist Systematic Strategies LLC owned 0.10% of Biohaven at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of BHVN. Hsbc Holdings PLC boosted its holdings in Biohaven by 6.1% during the 2nd quarter. Hsbc Holdings PLC now owns 8,291 shares of the company’s stock valued at $286,000 after acquiring an additional 480 shares during the period. Canton Hathaway LLC grew its holdings in shares of Biohaven by 2.3% in the second quarter. Canton Hathaway LLC now owns 21,850 shares of the company’s stock worth $758,000 after purchasing an additional 500 shares during the last quarter. Arizona State Retirement System increased its stake in Biohaven by 3.7% in the 2nd quarter. Arizona State Retirement System now owns 20,575 shares of the company’s stock worth $714,000 after buying an additional 730 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Biohaven by 4.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,431 shares of the company’s stock valued at $605,000 after buying an additional 778 shares in the last quarter. Finally, Commonwealth Equity Services LLC boosted its position in Biohaven by 7.3% in the 1st quarter. Commonwealth Equity Services LLC now owns 12,188 shares of the company’s stock valued at $667,000 after buying an additional 830 shares during the period. Institutional investors own 88.78% of the company’s stock.

Insider Activity

In other Biohaven news, Director Gregory Bailey bought 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The shares were purchased at an average cost of $44.19 per share, for a total transaction of $220,950.00. Following the purchase, the director now directly owns 1,620,071 shares in the company, valued at $71,590,937.49. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director John W. Childs purchased 28,400 shares of the firm’s stock in a transaction on Thursday, July 18th. The stock was acquired at an average price of $35.67 per share, with a total value of $1,013,028.00. Following the completion of the acquisition, the director now owns 2,339,741 shares in the company, valued at approximately $83,458,561.47. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Gregory Bailey acquired 5,000 shares of the company’s stock in a transaction dated Tuesday, September 24th. The shares were bought at an average cost of $44.19 per share, for a total transaction of $220,950.00. Following the completion of the acquisition, the director now directly owns 1,620,071 shares of the company’s stock, valued at $71,590,937.49. The disclosure for this purchase can be found here. Company insiders own 16.00% of the company’s stock.

Biohaven Stock Performance

Shares of Biohaven stock opened at $51.00 on Friday. The company has a market capitalization of $4.50 billion, a PE ratio of -7.47 and a beta of 1.30. The company has a 50-day simple moving average of $39.53 and a two-hundred day simple moving average of $40.63. Biohaven Ltd. has a one year low of $22.12 and a one year high of $62.21.

Biohaven (NYSE:BHVN) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($3.64) EPS for the quarter, missing the consensus estimate of ($1.72) by ($1.92). On average, equities analysts predict that Biohaven Ltd. will post -8.92 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on BHVN shares. Leerink Partners raised their target price on shares of Biohaven from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Monday, September 23rd. Piper Sandler lifted their target price on Biohaven from $66.00 to $76.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. UBS Group lowered their target price on Biohaven from $55.00 to $54.00 and set a “buy” rating for the company in a report on Tuesday, August 13th. Royal Bank of Canada raised their price target on Biohaven from $59.00 to $68.00 and gave the company an “outperform” rating in a research note on Tuesday, September 24th. Finally, Sanford C. Bernstein upped their price objective on shares of Biohaven from $55.00 to $66.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 24th. Thirteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $60.92.

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.