Biohaven Ltd. $BHVN Shares Bought by Infinitum Asset Management LLC

Key Points

• Infinitum Asset Management LLC increased its holdings in Biohaven Ltd. by 172.7%, acquiring an additional 190,000 shares during the 1st quarter, bringing their total to 300,000 shares.
• Biohaven shares recently declined by 1.4%, with a current trading price around $15.85, amidst significant price target revisions by various brokerages.
• Approximately 88.78% of Biohaven's stock is owned by institutional investors, indicating strong interest from major financial entities.

Infinitum Asset Management LLC grew its stake in Biohaven Ltd. (NYSE:BHVN - Free Report) by 172.7% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 300,000 shares of the company's stock after acquiring an additional 190,000 shares during the period. Biohaven comprises 2.3% of Infinitum Asset Management LLC's investment portfolio, making the stock its 14th biggest holding. Infinitum Asset Management LLC owned approximately 0.29% of Biohaven worth $7,212,000 as of its most recent filing with the SEC.

Other hedge funds have also recently made changes to their positions in the company. SVB Wealth LLC acquired a new stake in Biohaven in the 1st quarter valued at approximately $25,000. Parallel Advisors LLC grew its stake in shares of 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 buying an additional 1,036 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of 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 buying an additional 623 shares in the last quarter. IFP Advisors Inc raised its holdings in shares of Biohaven by 84,800.0% in the 1st quarter. IFP Advisors Inc now owns 2,547 shares of the company's stock valued at $61,000 after buying an additional 2,544 shares during the period. Finally, KBC Group NV lifted its stake 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 acquiring an additional 1,183 shares in the last quarter. Hedge funds and other institutional investors own 88.78% of the company's stock.

Biohaven Stock Down 1.9%

Biohaven stock traded down $0.27 during midday trading on Friday, reaching $13.80. The company's stock had a trading volume of 804,336 shares, compared to its average volume of 1,727,940. The company has a market cap of $1.46 billion, a P/E ratio of -1.80 and a beta of 1.02. 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 business has a 50-day simple moving average of $14.63 and a 200-day simple moving average of $18.79. Biohaven Ltd. has a fifty-two week low of $12.79 and a fifty-two week high of $55.70.

Biohaven (NYSE:BHVN - Get Free Report) last released its quarterly earnings data on Monday, August 11th. The company reported ($1.94) EPS for the quarter, meeting analysts' consensus estimates of ($1.94). On average, research analysts expect that Biohaven Ltd. will post -8.9 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. HC Wainwright reaffirmed a "buy" rating and issued a $30.00 target price (down from $54.00) on shares of Biohaven in a research report on Tuesday, August 12th. Robert W. Baird dropped their price objective on shares of Biohaven from $57.00 to $52.00 and set an "outperform" rating for the company in a report on Tuesday, August 12th. Raymond James Financial upgraded shares of Biohaven from a "moderate buy" rating to a "strong-buy" rating in a report on Wednesday, September 3rd. Bank of America dropped their price target on shares of Biohaven from $50.00 to $49.00 and set a "buy" rating for the company in a research note on Tuesday, August 12th. Finally, Morgan Stanley cut their price objective on Biohaven from $63.00 to $54.00 and set an "overweight" rating on the stock in a research report on Tuesday, August 12th. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $55.71.

Biohaven Profile

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.