Ieq Capital LLC Purchases New Position in Biohaven Ltd. $BHVN

Key Points

• Ieq Capital LLC acquired 475,865 Biohaven shares in the second quarter, valued at approximately $7.1 million and representing about 0.32% of the company. Institutional investors collectively own 88.78% of Biohaven.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $21.75, although targets range from $10 to $23 and Bank of America maintains an “underperform” rating.
• Biohaven shares opened at $13.91, within a 52-week range of $7.48 to $18.57. The company reported a quarterly loss of $0.91 per share, missing analysts’ expected loss of $0.76.

Ieq Capital LLC bought a new stake in Biohaven Ltd. (NYSE:BHVN - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 475,865 shares of the company's stock, valued at approximately $7,081,000. Ieq Capital LLC owned about 0.32% of Biohaven as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in BHVN. AQR Capital Management LLC increased its stake in 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 during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake 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 buying an additional 17,562 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake 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 buying an additional 41,040 shares during the period. Intech Investment Management LLC grew its holdings in shares of Biohaven by 80.3% during the first quarter. Intech Investment Management LLC now owns 61,598 shares of the company's stock worth $1,481,000 after buying an additional 27,433 shares during the last quarter. Finally, Quantbot Technologies LP grew its holdings in shares of Biohaven by 1,097.8% during the second quarter. Quantbot Technologies LP now owns 8,840 shares of the company's stock worth $125,000 after buying an additional 8,102 shares during the last quarter. Hedge funds and other institutional investors own 88.78% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on BHVN shares. Raymond James Financial reissued a "strong-buy" rating on shares of Biohaven in a research note on Wednesday, May 27th. HC Wainwright restated a "neutral" rating and issued a $10.00 target price on shares of Biohaven in a research note on Tuesday, May 26th. Royal Bank Of Canada lifted their target price on shares of Biohaven from $22.00 to $23.00 and gave the company an "outperform" rating in a report on Tuesday, August 11th. Needham & Company LLC set a $11.00 price target on shares of Biohaven in a research note on Monday, June 29th. Finally, Bank of America reissued 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. Two investment 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $21.75.

Biohaven Trading Up 0.4%

NYSE:BHVN opened at $13.91 on Monday. The stock has a fifty day moving average price of $14.59 and a two-hundred day moving average price of $11.74. The stock has a market capitalization of $2.10 billion, a price-to-earnings ratio of -3.00 and a beta of 1.26. The company has a debt-to-equity ratio of 21.23, a quick ratio of 4.73 and a current ratio of 4.73. Biohaven Ltd. has a 1 year low of $7.48 and a 1 year high of $18.57.

Biohaven (NYSE:BHVN - Get Free Report) last released its earnings results on Monday, August 10th. The company reported ($0.91) EPS for the quarter, missing analysts' consensus estimates of ($0.76) by ($0.15). As a group, sell-side analysts anticipate that Biohaven Ltd. will post -3.29 earnings per share for the current fiscal year.

Biohaven 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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