Biohaven Ltd. $BHVN Shares Purchased by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP increased its stake in Biohaven Ltd. by 26.6% during the 1st quarter, owning 802,731 shares valued at approximately $19.3 million.
• Biohaven's recent earnings report showed a loss of $1.94 per share, meeting consensus estimates, with projections indicating a negative earnings per share of -8.9 for the current fiscal year.
• Analyst ratings have varied, with target prices for Biohaven lowered by several firms, reflecting a consensus price target of $54.23 amidst ongoing performance fluctuations.

Wellington Management Group LLP lifted its stake in Biohaven Ltd. (NYSE:BHVN - Free Report) by 26.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 802,731 shares of the company's stock after acquiring an additional 168,676 shares during the quarter. Wellington Management Group LLP owned 0.79% of Biohaven worth $19,298,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Parallel Advisors LLC lifted its holdings in shares of Biohaven by 319.8% in the 1st quarter. Parallel Advisors LLC now owns 1,360 shares of the company's stock worth $33,000 after acquiring an additional 1,036 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in Biohaven by 53.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,783 shares of the company's stock worth $43,000 after buying an additional 623 shares in the last quarter. IFP Advisors Inc lifted its holdings in Biohaven by 84,800.0% during the 1st quarter. IFP Advisors Inc now owns 2,547 shares of the company's stock worth $61,000 after buying an additional 2,544 shares in the last quarter. KBC Group NV lifted its holdings in Biohaven by 35.0% during the 1st quarter. KBC Group NV now owns 4,560 shares of the company's stock worth $110,000 after buying an additional 1,183 shares in the last quarter. Finally, Quarry LP acquired a new stake in Biohaven during the 4th quarter worth approximately $112,000. 88.78% of the stock is currently owned by institutional investors and hedge funds.

Biohaven Price Performance

Shares of NYSE:BHVN opened at $14.96 on Tuesday. The company's fifty day moving average price is $14.41 and its 200 day moving average price is $20.72. Biohaven Ltd. has a 12 month low of $12.79 and a 12 month high of $55.70. The company has a debt-to-equity ratio of 1.91, a current ratio of 3.82 and a quick ratio of 3.82. The firm has a market capitalization of $1.58 billion, a P/E ratio of -1.95 and a beta of 0.98.

Biohaven (NYSE:BHVN - Get Free Report) last announced its quarterly earnings results on Monday, August 11th. The company reported ($1.94) EPS for the quarter, hitting the consensus estimate of ($1.94). As a group, sell-side analysts predict that Biohaven Ltd. will post -8.9 earnings per share for the current fiscal year.

Analyst Ratings Changes

BHVN has been the topic of a number of research reports. Leerink Partners reduced their target price on shares of Biohaven from $60.00 to $50.00 and set an "outperform" rating on the stock in a report on Tuesday, August 12th. Bank of America reduced their target price on shares of Biohaven from $50.00 to $49.00 and set a "buy" rating on the stock in a report on Tuesday, August 12th. JPMorgan Chase & Co. reduced their target price on shares of Biohaven from $68.00 to $55.00 and set an "overweight" rating on the stock in a report on Wednesday, June 18th. HC Wainwright reiterated a "buy" rating and set a $30.00 target price (down from $54.00) on shares of Biohaven in a report on Tuesday, August 12th. Finally, Robert W. Baird reduced their target price on shares of Biohaven from $57.00 to $52.00 and set an "outperform" rating on the stock in a report on Tuesday, August 12th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $54.23.

About Biohaven

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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