94,255 Shares in Biohaven Ltd. $BHVN Acquired by Legal & General Group Plc

Key Points

• Legal & General Group Plc acquired 94,255 Biohaven shares worth approximately $1.4 million during the second quarter, representing about 0.06% of the company. Institutional investors and hedge funds collectively own 88.78% of BHVN.
• Analyst sentiment remains generally positive, with a consensus rating of “Moderate Buy” and an average price target of $18.94. Price targets range from $11 at Bank of America to $30 at Raymond James.
• Biohaven shares opened at $15.69, near the upper half of their 12-month range of $7.48 to $18.57. The company reported a quarterly loss of $0.91 per share, missing the consensus estimate of a $0.76 loss.

Legal & General Group Plc acquired a new stake in Biohaven Ltd. (NYSE:BHVN - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 94,255 shares of the company's stock, valued at approximately $1,403,000. Legal & General Group Plc owned about 0.06% of Biohaven at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Janus Henderson Group PLC lifted its stake in Biohaven by 1,145.9% during the first quarter. Janus Henderson Group PLC now owns 17,534,612 shares of the company's stock worth $148,214,000 after purchasing an additional 16,127,247 shares during the last quarter. BlackRock Inc. bought a new position in shares of Biohaven in the 2nd quarter valued at $196,574,000. Suvretta Capital Management LLC increased its stake in shares of Biohaven by 83.0% in the 4th quarter. Suvretta Capital Management LLC now owns 10,286,937 shares of the company's stock valued at $116,140,000 after purchasing an additional 4,666,666 shares during the last quarter. Stifel Financial Corp raised its holdings in shares of Biohaven by 50.3% during the 4th quarter. Stifel Financial Corp now owns 9,939,856 shares of the company's stock worth $112,221,000 after buying an additional 3,328,506 shares in the last quarter. Finally, Infinitum Asset Management LLC raised its holdings in shares of Biohaven by 267.6% during the 4th quarter. Infinitum Asset Management LLC now owns 6,250,000 shares of the company's stock worth $70,562,000 after buying an additional 4,550,000 shares in the last quarter. 88.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently weighed in on BHVN shares. Morgan Stanley raised their price objective on Biohaven from $18.00 to $19.00 and gave the company an "overweight" rating in a research note on Wednesday, August 12th. Canaccord Genuity Group set a $21.00 target price on shares of Biohaven in a report on Friday, August 28th. Bank of America reaffirmed 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. Raymond James Financial reiterated a "strong-buy" rating and set a $30.00 price objective on shares of Biohaven in a research report on Wednesday, August 26th. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Biohaven in a research note on Friday, June 26th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $18.94.

Biohaven Stock Performance

Shares of BHVN stock opened at $15.69 on Monday. The business's 50-day moving average price is $14.86 and its 200-day moving average price is $12.02. Biohaven Ltd. has a 12 month low of $7.48 and a 12 month high of $18.57. The firm has a market capitalization of $2.37 billion, a price-to-earnings ratio of -3.38 and a beta of 1.28. The company has a current ratio of 4.73, a quick ratio of 4.73 and a debt-to-equity ratio of 21.23.

Biohaven (NYSE:BHVN - Get Free Report) last released its quarterly earnings data on Monday, August 10th. The company reported ($0.91) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.76) by ($0.15). Equities research analysts forecast that Biohaven Ltd. will post -3.33 EPS for the current year.

Biohaven Company Profile

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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