Infinitum Asset Management LLC Raises Stock Holdings in Biohaven Ltd. $BHVN

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 boosted its stake in Biohaven Ltd. (NYSE:BHVN - Free Report) by 172.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 300,000 shares of the company's stock after acquiring an additional 190,000 shares during the period. Biohaven accounts for 2.3% of Infinitum Asset Management LLC's portfolio, making the stock its 14th largest position. Infinitum Asset Management LLC owned approximately 0.29% of Biohaven worth $7,212,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of BHVN. PNC Financial Services Group Inc. lifted its holdings in Biohaven by 53.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,783 shares of the company's stock valued at $43,000 after acquiring an additional 623 shares during the last quarter. RWA Wealth Partners LLC increased its holdings in shares of Biohaven by 7.0% during the first quarter. RWA Wealth Partners LLC now owns 12,622 shares of the company's stock worth $303,000 after buying an additional 822 shares in the last quarter. Lazard Asset Management LLC grew its holdings in Biohaven by 47.4% during the 4th quarter. Lazard Asset Management LLC now owns 3,207 shares of the company's stock worth $119,000 after acquiring an additional 1,031 shares during the last quarter. Parallel Advisors LLC lifted its stake in shares of Biohaven by 319.8% during the first quarter. Parallel Advisors LLC now owns 1,360 shares of the company's stock valued at $33,000 after acquiring an additional 1,036 shares during the period. Finally, SVB Wealth LLC bought a new position in shares of Biohaven in the 1st quarter worth $25,000. Institutional investors and hedge funds own 88.78% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on BHVN shares. Bank of America decreased their price objective on Biohaven from $50.00 to $49.00 and set a "buy" rating for the company in a report on Tuesday, August 12th. HC Wainwright reissued a "buy" rating and set a $30.00 price objective (down previously from $54.00) on shares of Biohaven in a report on Tuesday, August 12th. Leerink Partners dropped 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. BTIG Research upped their price objective on shares of Biohaven from $59.00 to $60.00 and gave the stock a "buy" rating in a report on Tuesday, August 19th. Finally, JPMorgan Chase & Co. cut their price target 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. Three research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Buy" and an average price target of $55.71.

Biohaven Stock Down 3.4%

BHVN traded down $0.49 during trading on Wednesday, hitting $13.99. 2,270,652 shares of the company's stock traded hands, compared to its average volume of 1,734,012. The company's 50 day simple moving average is $14.65 and its two-hundred day simple moving average is $18.97. Biohaven Ltd. has a 12-month low of $12.79 and a 12-month high of $55.70. The company has a current ratio of 3.82, a quick ratio of 3.82 and a debt-to-equity ratio of 1.91. The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of -1.83 and a beta of 1.02.

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

Biohaven Company 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.