Empowered Funds LLC Acquires New Position in Biohaven Ltd. $BHVN

Key Points

• Empowered Funds LLC acquired 152,060 Biohaven shares worth approximately $2.26 million in the second quarter, while institutional investors collectively owned 88.78% of the company.
• Analyst sentiment is mixed but leans positive: Biohaven has a consensus “Moderate Buy” rating and an average price target of $18.94, compared with shares opening at $15.78.
• Biohaven reported a quarterly loss of $0.91 per share, missing the consensus estimate of $0.76, and analysts expect a full-year loss of approximately $3.30 per share.

Empowered Funds LLC bought a new position in Biohaven Ltd. (NYSE:BHVN - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 152,060 shares of the company's stock, valued at approximately $2,263,000. Empowered Funds LLC owned about 0.10% of Biohaven at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Coastal Bridge Advisors LLC bought a new stake in shares of Biohaven in the 2nd quarter worth approximately $343,000. Corient Private Wealth LP bought a new position in shares of Biohaven during the 2nd quarter valued at $214,000. Bank of America Corp DE bought a new position in shares of Biohaven during the 2nd quarter valued at $21,990,000. Jupiter Topco LLC purchased a new position in Biohaven in the 2nd quarter worth $127,852,000. Finally, 5AM Venture Management LLC purchased a new position in Biohaven in the 2nd quarter worth $10,995,903. Hedge funds and other institutional investors own 88.78% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Wall Street Zen upgraded shares of Biohaven from a "strong sell" rating to a "sell" rating in a research report on Saturday, June 27th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Biohaven in a research note on Friday, August 28th. Royal Bank Of Canada lifted their target price on shares of Biohaven from $22.00 to $23.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 11th. Canaccord Genuity Group set a $21.00 price target on shares of Biohaven in a research report on Friday, August 28th. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Biohaven in a research report on Friday, June 26th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued 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 $18.94.

Biohaven Stock Up 0.3%

Shares of NYSE BHVN opened at $15.78 on Thursday. 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 Ltd. has a 12 month low of $7.48 and a 12 month high of $18.57. The firm has a market capitalization of $2.38 billion, a PE ratio of -3.40 and a beta of 1.28. The firm has a fifty day simple moving average of $14.85 and a two-hundred day simple moving average of $11.96.

Biohaven (NYSE:BHVN - Get Free Report) last announced its earnings results on Monday, August 10th. The company reported ($0.91) earnings per share for the quarter, missing analysts' consensus estimates of ($0.76) by ($0.15). Equities analysts expect that Biohaven Ltd. will post -3.3 earnings per share 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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