5 Best Biotech Stocks To Buy Now

3. Biohaven Pharmaceutical Holding Company Ltd. (NYSE:BHVN)

Number of Hedge Fund Holders: 58

Biohaven Pharmaceutical Holding Company Ltd. (NYSE:BHVN), is a biotech company that focuses on the late-stage clinical development of therapeutic drugs and devices. The company’s therapy areas include neurological diseases, especially uncommon conditions. The company’s recent acquisition by the pharma giant Pfizer Inc. (NYSE:PFE) has enabled it to make advancements in its neuroscience portfolio. In March 2022, the firm announced the acquisition of investigational products for the treatment of epilepsy. 

The diversification of the neuroscience portfolio puts the firm in a strong position. The firm has a market cap of close to $10.65 billion and annual revenue near $215.08 million. As of August 26, 2022, Adage Capital Management is the largest stakeholder in Biohaven Pharmaceutical Holding Company Ltd. (NYSE:BHVN) worth $442.82 million. 

Piper Sandler’s an analyst Christopher Raymond, downgraded Biohaven Pharmaceutical Holding Company Ltd. (NYSE:BHVN) from Overweight to Neutral with an unchanged price target of $149. 

According to Insider Monkey’s Q2 data, Biohaven Pharmaceutical Holding Company Ltd. (NYSE:BHVN) was found in the public stock portfolios of 58 hedge funds, with collective stakes in the company worth $2.52 billion.