Biohaven Ltd. $BHVN Stock Holdings Raised by Invesco Ltd.

Key Points

• Invesco Ltd. increased its stake in Biohaven Ltd. by 32.1% during the 1st quarter, now owning 68,460 shares valued at approximately $1.65 million.
• Several institutional investors have also boosted their positions in Biohaven, with Wellington Management Group LLP significantly increasing its stake by 160.7% in the 4th quarter.
• Biohaven's stock has experienced rating changes from various analysts, with JPMorgan reducing its price target to $55.00 while Cantor Fitzgerald upgraded the stock to a "strong-buy" rating.

Invesco Ltd. increased its position in shares of Biohaven Ltd. (NYSE:BHVN - Free Report) by 32.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 68,460 shares of the company's stock after acquiring an additional 16,646 shares during the quarter. Invesco Ltd. owned approximately 0.07% of Biohaven worth $1,646,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Janus Henderson Group PLC boosted its position in Biohaven by 12.1% during the fourth quarter. Janus Henderson Group PLC now owns 6,982,425 shares of the company's stock worth $260,735,000 after acquiring an additional 756,032 shares during the last quarter. Suvretta Capital Management LLC raised its stake in Biohaven by 8.1% during the fourth quarter. Suvretta Capital Management LLC now owns 5,620,271 shares of the company's stock worth $209,917,000 after purchasing an additional 421,052 shares during the period. Farallon Capital Management LLC raised its stake in Biohaven by 21.6% during the fourth quarter. Farallon Capital Management LLC now owns 4,428,167 shares of the company's stock worth $165,392,000 after purchasing an additional 785,578 shares during the period. Brown Advisory Inc. raised its stake in Biohaven by 4.6% during the first quarter. Brown Advisory Inc. now owns 1,020,117 shares of the company's stock worth $24,524,000 after purchasing an additional 44,532 shares during the period. Finally, Nuveen Asset Management LLC raised its stake in Biohaven by 55.1% during the fourth quarter. Nuveen Asset Management LLC now owns 919,235 shares of the company's stock worth $34,333,000 after purchasing an additional 326,636 shares during the period. Institutional investors and hedge funds own 88.78% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on BHVN shares. Bank of America cut their price target on shares of Biohaven from $50.00 to $49.00 and set a "buy" rating on the stock in a research note on Tuesday, August 12th. Morgan Stanley cut their target price on shares of Biohaven from $63.00 to $54.00 and set an "overweight" rating on the stock in a research note on Tuesday, August 12th. Robert W. Baird cut their target price on shares of Biohaven from $57.00 to $52.00 and set an "outperform" rating on the stock in a research note on Tuesday, August 12th. Cantor Fitzgerald raised shares of Biohaven to a "strong-buy" rating in a research note on Tuesday, May 13th. Finally, HC Wainwright reissued a "buy" rating and issued a $30.00 target price (down previously from $54.00) on shares of Biohaven in a research note on Tuesday, August 12th. Three research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $55.71.

Biohaven Stock Down 1.4%

BHVN traded down $0.22 during trading hours on Friday, reaching $15.85. 3,450,736 shares of the stock traded hands, compared to its average volume of 1,934,479. The firm's fifty day simple moving average is $14.63 and its two-hundred day simple moving average is $19.44. The company has a market cap of $1.68 billion, a price-to-earnings ratio of -2.07 and a beta of 1.02. Biohaven Ltd. has a fifty-two week low of $12.79 and a fifty-two week high of $55.70. The company has a debt-to-equity ratio of 1.91, a current ratio of 3.82 and a quick ratio of 3.82.

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

About Biohaven

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.