501,687 Shares in Biohaven Ltd. $BHVN Acquired by ADAR1 Capital Management LLC

Key Points

• ADAR1 Capital Management acquired 501,687 Biohaven shares worth approximately $7.5 million, representing about 0.33% of the company. Institutional investors collectively own 88.78% of BHVN.
• Analyst sentiment remains generally positive, with a consensus rating of “Moderate Buy” and an average price target of $21.75, although Bank of America lowered its target to $11 and maintained an underperform rating.
• Biohaven shares opened at $14.31, while the company reported a quarterly loss of $0.91 per share, missing the $0.76 consensus estimate. Analysts expect a full-year loss of approximately $3.29 per share.

ADAR1 Capital Management LLC purchased a new position in Biohaven Ltd. (NYSE:BHVN - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 501,687 shares of the company's stock, valued at approximately $7,465,000. ADAR1 Capital Management LLC owned approximately 0.33% of Biohaven as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. AQR Capital Management LLC raised its holdings in Biohaven by 49.4% during the first quarter. AQR Capital Management LLC now owns 114,849 shares of the company's stock worth $2,761,000 after buying an additional 37,981 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Biohaven by 32.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 71,833 shares of the company's stock worth $1,747,000 after purchasing an additional 17,562 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Biohaven by 7.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 589,615 shares of the company's stock worth $14,174,000 after purchasing an additional 41,040 shares during the last quarter. Intech Investment Management LLC raised its stake in shares of Biohaven by 80.3% in the first quarter. Intech Investment Management LLC now owns 61,598 shares of the company's stock worth $1,481,000 after purchasing an additional 27,433 shares during the last quarter. Finally, Quantbot Technologies LP grew its holdings in Biohaven by 1,097.8% during the second quarter. Quantbot Technologies LP now owns 8,840 shares of the company's stock worth $125,000 after buying an additional 8,102 shares in the last quarter. Institutional investors own 88.78% of the company's stock.

Analyst Ratings Changes

BHVN has been the topic of a number of analyst reports. Needham & Company LLC set a $11.00 price objective on shares of Biohaven in a report on Monday, June 29th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Biohaven in a research report on Friday, June 26th. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Biohaven in a report on Wednesday, May 27th. Bank of America reiterated an "underperform" rating and set a $11.00 price target (down from $12.00) on shares of Biohaven in a report on Monday, June 29th. Finally, HC Wainwright restated a "neutral" rating and issued a $10.00 price objective on shares of Biohaven in a research note on Tuesday, May 26th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $21.75.

Biohaven Stock Performance

Shares of BHVN opened at $14.31 on Wednesday. Biohaven Ltd. has a 1 year low of $7.48 and a 1 year high of $18.57. The company has a debt-to-equity ratio of 21.23, a current ratio of 4.73 and a quick ratio of 4.73. The stock's fifty day moving average price is $14.67 and its two-hundred day moving average price is $11.78. The firm has a market cap of $2.16 billion, a PE ratio of -3.08 and a beta of 1.26.

Biohaven (NYSE:BHVN - Get Free Report) last announced its quarterly earnings data on Monday, August 10th. The company reported ($0.91) earnings per share for the quarter, missing the consensus estimate of ($0.76) by ($0.15). On average, equities research analysts forecast that Biohaven Ltd. will post -3.29 EPS for the current year.

About Biohaven

Biohaven Ltd. (NYSE BHVN) is a clinical-stage biopharmaceutical company dedicated to developing and commercializing therapies for neurological and neurovascular diseases. Founded in 2013 as a spin-out from Yale University, Biohaven focuses on addressing high-unmet medical needs through innovative small-molecule and peptide-based platforms. The company is headquartered in New Haven, Connecticut, and maintains research activities across the United States, with collaborative ties in Europe and Asia via strategic partnerships.

The company's most advanced program centers on calcitonin gene-related peptide (CGRP) receptor antagonists for the acute and preventive treatment of migraine.

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