Point72 Asset Management L.P. Makes New Investment in Biohaven Pharmaceutical Holding Co Ltd (NYSE:BHVN)
Point72 Asset Management L.P. acquired a new position in shares of Biohaven Pharmaceutical Holding Co Ltd (NYSE:BHVN) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 454,989 shares of the company’s stock, valued at approximately $24,770,000. Point72 Asset Management L.P. owned about 0.87% of Biohaven Pharmaceutical as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also recently modified their holdings of BHVN. Bluefin Trading LLC acquired a new stake in Biohaven Pharmaceutical during the fourth quarter valued at approximately $9,023,000. Cubist Systematic Strategies LLC bought a new stake in Biohaven Pharmaceutical in the 4th quarter worth approximately $1,241,000. Alyeska Investment Group L.P. lifted its position in Biohaven Pharmaceutical by 20.2% in the 4th quarter. Alyeska Investment Group L.P. now owns 60,934 shares of the company’s stock worth $3,317,000 after buying an additional 10,233 shares during the last quarter. Handelsbanken Fonder AB lifted its position in Biohaven Pharmaceutical by 10.8% in the 4th quarter. Handelsbanken Fonder AB now owns 257,000 shares of the company’s stock worth $13,991,000 after buying an additional 25,000 shares during the last quarter. Finally, Parkman Healthcare Partners LLC bought a new stake in Biohaven Pharmaceutical in the 4th quarter worth approximately $1,089,000. 84.12% of the stock is currently owned by institutional investors.
In related news, Director Eric Aguiar sold 2,021 shares of the company’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $56.48, for a total transaction of $114,146.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Robert Berman sold 125,000 shares of the company’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $53.22, for a total transaction of $6,652,500.00. Following the sale, the insider now directly owns 125,341 shares of the company’s stock, valued at approximately $6,670,648.02. The disclosure for this sale can be found here. In the last quarter, insiders sold 157,021 shares of company stock worth $8,458,346. Company insiders own 23.90% of the company’s stock.
Biohaven Pharmaceutical (NYSE:BHVN) last issued its quarterly earnings results on Tuesday, February 25th. The company reported ($2.85) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.91) by ($0.94). During the same period in the prior year, the business earned ($1.34) EPS. As a group, equities analysts anticipate that Biohaven Pharmaceutical Holding Co Ltd will post -8.74 earnings per share for the current year.
Several equities research analysts recently weighed in on the company. William Blair restated a “buy” rating on shares of Biohaven Pharmaceutical in a research report on Tuesday, December 10th. Piper Jaffray Companies restated a “buy” rating and set a $100.00 price objective on shares of Biohaven Pharmaceutical in a report on Monday, December 23rd. Wedbush raised their price objective on Biohaven Pharmaceutical from $73.00 to $78.00 and gave the stock an “outperform” rating in a report on Friday, March 13th. Zacks Investment Research downgraded Biohaven Pharmaceutical from a “buy” rating to a “hold” rating in a report on Monday, January 27th. Finally, ValuEngine upgraded Biohaven Pharmaceutical from a “buy” rating to a “strong-buy” rating in a report on Monday, March 9th. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Biohaven Pharmaceutical currently has an average rating of “Buy” and an average price target of $69.33.
Biohaven Pharmaceutical Profile
Biohaven Pharmaceutical Holding Company Ltd., a clinical-stage biopharmaceutical company, develops late-stage products candidates targeting neurological diseases in the United States. Its clinical stage products include Rimegepant, a product that has completed phase III trials and is in long-term safety ongoing process for acute treatment and prevention of migraine; BHV-3500 that has completed phase I clinical trial for acute treatment and prevention of migraine; and Troriluzole that has completed II/III randomization phase and is ongoing extension trial for ataxias.
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