ADAR1 Capital Management LLC bought a new position in shares of Biohaven Ltd. (NYSE:BHVN - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 22,641 shares of the company's stock, valued at approximately $544,000.
Other large investors have also recently made changes to their positions in the company. SVB Wealth LLC purchased a new stake in shares of Biohaven during the first quarter worth approximately $25,000. Parallel Advisors LLC increased its stake in Biohaven by 319.8% in the first quarter. Parallel Advisors LLC now owns 1,360 shares of the company's stock valued at $33,000 after purchasing an additional 1,036 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in Biohaven by 53.7% in the first quarter. PNC Financial Services Group Inc. now owns 1,783 shares of the company's stock valued at $43,000 after purchasing an additional 623 shares during the last quarter. IFP Advisors Inc increased its stake in Biohaven by 84,800.0% in the first quarter. IFP Advisors Inc now owns 2,547 shares of the company's stock valued at $61,000 after purchasing an additional 2,544 shares during the last quarter. Finally, Lazard Asset Management LLC increased its stake in Biohaven by 47.4% in the fourth quarter. Lazard Asset Management LLC now owns 3,207 shares of the company's stock valued at $119,000 after purchasing an additional 1,031 shares during the last quarter. 88.78% of the stock is currently owned by hedge funds and other institutional investors.
Biohaven Stock Performance
Shares of NYSE BHVN traded down $0.22 during mid-day trading on Friday, hitting $15.85. 3,450,736 shares of the company were exchanged, compared to its average volume of 1,934,479. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 1.91. The stock has a 50 day simple moving average of $14.63 and a 200-day simple moving average of $19.44. Biohaven Ltd. has a 1-year low of $12.79 and a 1-year high of $55.70. The firm has a market cap of $1.68 billion, a price-to-earnings ratio of -2.07 and a beta of 1.02.
Biohaven (NYSE:BHVN - Get Free Report) last issued its quarterly earnings results on Monday, August 11th. The company reported ($1.94) earnings per share for the quarter, hitting the consensus estimate of ($1.94). On average, sell-side analysts forecast that Biohaven Ltd. will post -8.9 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Several equities analysts have commented on BHVN shares. HC Wainwright reiterated a "buy" rating and issued a $30.00 price target (down from $54.00) on shares of Biohaven in a research note on Tuesday, August 12th. JPMorgan Chase & Co. dropped their price target on shares of Biohaven from $68.00 to $55.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 18th. Leerink Partners dropped their price target on shares of Biohaven from $60.00 to $50.00 and set an "outperform" rating on the stock in a research note on Tuesday, August 12th. Bank of America lowered their target price on shares of Biohaven from $50.00 to $49.00 and set a "buy" rating on the stock in a research report on Tuesday, August 12th. Finally, Cantor Fitzgerald upgraded shares of Biohaven to a "strong-buy" rating in a research report on Tuesday, May 13th. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Biohaven presently has a consensus rating of "Buy" and an average target price of $55.71.
View Our Latest Stock Analysis on BHVN
Biohaven Company Profile
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Free Report)
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.
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