New York State Common Retirement Fund Has $1.77 Million Stake in Biohaven Ltd. (NYSE:BHVN)

New York State Common Retirement Fund boosted its holdings in Biohaven Ltd. (NYSE:BHVN) by 27.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 41,276 shares of the company’s stock after purchasing an additional 9,000 shares during the quarter. New York State Common Retirement Fund owned about 0.05% of Biohaven worth $1,767,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Redmile Group LLC acquired a new position in shares of Biohaven during the third quarter valued at about $13,497,000. Jennison Associates LLC bought a new stake in Biohaven during the 4th quarter worth approximately $11,402,000. Armistice Capital LLC raised its stake in shares of Biohaven by 13.1% in the third quarter. Armistice Capital LLC now owns 2,036,000 shares of the company’s stock worth $52,956,000 after purchasing an additional 236,000 shares during the last quarter. Rafferty Asset Management LLC lifted its holdings in shares of Biohaven by 80.8% in the third quarter. Rafferty Asset Management LLC now owns 342,861 shares of the company’s stock valued at $8,918,000 after purchasing an additional 153,271 shares in the last quarter. Finally, Stifel Financial Corp boosted its position in shares of Biohaven by 2.7% during the third quarter. Stifel Financial Corp now owns 5,769,749 shares of the company’s stock valued at $150,071,000 after buying an additional 150,000 shares during the last quarter. Institutional investors own 88.78% of the company’s stock.

Analyst Upgrades and Downgrades

BHVN has been the subject of a number of analyst reports. JPMorgan Chase & Co. increased their price target on Biohaven from $32.00 to $56.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. Cantor Fitzgerald reissued an “overweight” rating on shares of Biohaven in a research report on Thursday, April 18th. TD Cowen upped their price objective on shares of Biohaven from $35.00 to $55.00 and gave the stock an “outperform” rating in a research report on Friday, March 1st. UBS Group lifted their target price on shares of Biohaven from $59.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $61.00 target price on shares of Biohaven in a report on Tuesday, April 9th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Biohaven currently has an average rating of “Buy” and a consensus price target of $52.13.

Biohaven Price Performance

Shares of BHVN opened at $40.75 on Thursday. Biohaven Ltd. has a 1 year low of $13.46 and a 1 year high of $62.21. The stock’s fifty day moving average price is $49.77 and its two-hundred day moving average price is $42.71. The firm has a market cap of $3.60 billion, a PE ratio of -7.20 and a beta of 1.26.

Biohaven (NYSE:BHVN) last released its quarterly earnings data on Thursday, February 29th. The company reported ($1.81) EPS for the quarter, missing the consensus estimate of ($1.41) by ($0.40). Sell-side analysts anticipate that Biohaven Ltd. will post -5.79 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Biohaven news, Director Gregory Bailey bought 48,780 shares of the stock in a transaction on Monday, April 22nd. The shares were acquired at an average price of $41.00 per share, with a total value of $1,999,980.00. Following the acquisition, the director now directly owns 1,574,568 shares of the company’s stock, valued at approximately $64,557,288. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, CEO Vlad Coric acquired 121,951 shares of the business’s stock in a transaction dated Monday, April 22nd. The stock was bought at an average cost of $41.00 per share, for a total transaction of $4,999,991.00. Following the completion of the transaction, the chief executive officer now owns 1,788,417 shares of the company’s stock, valued at $73,325,097. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gregory Bailey acquired 48,780 shares of the company’s stock in a transaction that occurred on Monday, April 22nd. The shares were acquired at an average cost of $41.00 per share, with a total value of $1,999,980.00. Following the purchase, the director now directly owns 1,574,568 shares of the company’s stock, valued at approximately $64,557,288. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 196,234 shares of company stock valued at $7,999,179. Company insiders own 16.00% of the company’s stock.

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.