Defilade Capital Management L.P. Buys Shares of 315,944 Biohaven Ltd. $BHVN

Key Points

• Defilade Capital Management acquired 315,944 Biohaven shares worth approximately $2.67 million, representing 0.21% of the company.
• Several other institutional investors increased their Biohaven holdings, and hedge funds and institutions collectively own 88.78% of BHVN stock.
• Biohaven reported a quarterly loss of $0.88 per share, slightly worse than analyst expectations. Despite mixed analyst views, the stock has a consensus “Moderate Buy” rating and an average price target of $21.62.

Defilade Capital Management L.P. purchased a new position in shares of Biohaven Ltd. (NYSE:BHVN - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 315,944 shares of the company's stock, valued at approximately $2,673,000. Defilade Capital Management L.P. owned 0.21% of Biohaven at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in BHVN. AQR Capital Management LLC grew its holdings in shares of Biohaven by 49.4% in the first quarter. AQR Capital Management LLC now owns 114,849 shares of the company's stock valued at $2,761,000 after purchasing an additional 37,981 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Biohaven by 32.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 71,833 shares of the company's stock worth $1,747,000 after acquiring an additional 17,562 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Biohaven by 7.5% during 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 acquiring an additional 41,040 shares during the period. 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 valued at $1,481,000 after acquiring an additional 27,433 shares in the last quarter. Finally, Quantbot Technologies LP raised its stake in shares of Biohaven by 1,097.8% in the second quarter. Quantbot Technologies LP now owns 8,840 shares of the company's stock valued at $125,000 after acquiring an additional 8,102 shares in the last quarter. Institutional investors and hedge funds own 88.78% of the company's stock.

Biohaven Stock Down 0.0%

BHVN opened at $13.49 on Monday. Biohaven Ltd. has a one year low of $7.48 and a one year high of $18.57. The company has a debt-to-equity ratio of 1.87, a quick ratio of 7.41 and a current ratio of 7.41. The stock has a market capitalization of $2.03 billion, a P/E ratio of -2.38 and a beta of 1.28. The business's 50-day simple moving average is $13.60 and its 200-day simple moving average is $11.56.

Biohaven (NYSE:BHVN - Get Free Report) last announced its earnings results on Monday, May 4th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.86) by ($0.02). Analysts anticipate that Biohaven Ltd. will post -3.1 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently commented on BHVN shares. HC Wainwright reissued a "neutral" rating and set a $10.00 target price on shares of Biohaven in a research note on Tuesday, May 26th. Bank of America reaffirmed an "underperform" rating and issued a $11.00 price target (down from $12.00) on shares of Biohaven in a research report on Monday, June 29th. Royal Bank Of Canada decreased their price objective on Biohaven from $23.00 to $22.00 and set an "outperform" rating for the company in a research note on Tuesday, May 5th. Needham & Company LLC set a $11.00 price objective on Biohaven in a research note on Monday, June 29th. Finally, Weiss Ratings reissued a "sell (e+)" rating on shares of Biohaven in a research report on Tuesday, June 2nd. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $21.62.

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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