Peregrine Capital Management LLC Buys New Position in Biohaven Ltd. (NYSE:BHVN)

Peregrine Capital Management LLC purchased a new position in Biohaven Ltd. (NYSE:BHVN) during the 4th quarter, HoldingsChannel reports. The firm purchased 148,879 shares of the company’s stock, valued at approximately $5,561,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. SpiderRock Advisors LLC acquired a new position in shares of Biohaven in the 3rd quarter worth approximately $620,000. Citigroup Inc. grew its position in Biohaven by 125.8% in the third quarter. Citigroup Inc. now owns 119,905 shares of the company’s stock worth $5,992,000 after buying an additional 66,801 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of Biohaven in the third quarter valued at $1,339,000. JPMorgan Chase & Co. lifted its position in shares of Biohaven by 85.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 809,448 shares of the company’s stock valued at $40,448,000 after acquiring an additional 372,737 shares during the last quarter. Finally, XTX Topco Ltd boosted its stake in shares of Biohaven by 278.5% during the 3rd quarter. XTX Topco Ltd now owns 32,510 shares of the company’s stock worth $1,625,000 after acquiring an additional 23,921 shares in the last quarter. 88.78% of the stock is currently owned by institutional investors.

Insider Activity at Biohaven

In other news, Director John W. Childs bought 29,000 shares of the company’s stock in a transaction on Monday, December 30th. The shares were bought at an average cost of $35.94 per share, with a total value of $1,042,260.00. Following the transaction, the director now directly owns 2,368,741 shares in the company, valued at approximately $85,132,551.54. This trade represents a 1.24 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 16.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on BHVN. Royal Bank of Canada reaffirmed an “outperform” rating and set a $61.00 target price (up from $58.00) on shares of Biohaven in a report on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft began coverage on shares of Biohaven in a report on Tuesday, February 11th. They issued a “buy” rating and a $65.00 target price for the company. HC Wainwright restated a “buy” rating and set a $59.00 price target on shares of Biohaven in a report on Tuesday, December 17th. TD Cowen raised their price objective on shares of Biohaven from $55.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Biohaven in a research note on Tuesday, December 17th. Fourteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Biohaven presently has a consensus rating of “Buy” and a consensus price target of $63.15.

Biohaven Stock Down 5.0 %

Biohaven stock opened at $39.36 on Wednesday. Biohaven Ltd. has a 12 month low of $26.80 and a 12 month high of $62.21. The stock has a market cap of $3.98 billion, a P/E ratio of -4.21 and a beta of 1.28. The company’s fifty day simple moving average is $38.46 and its 200-day simple moving average is $42.74.

About Biohaven

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.