JPMorgan Chase & Co. Sells 1,236,587 Shares of Biohaven Ltd. $BHVN

Key Points

• JPMorgan Chase & Co. sold 1,236,587 shares of Biohaven, trimming its position by 48.1% to 1,335,455 shares (about a 1.26% stake) valued at roughly $20.0 million.
• Analyst sentiment is mixed but tilted positive with a MarketBeat consensus of Moderate Buy and an average target of $22.43, including notable upgrades like Goldman Sachs' "strong-buy" and TD Cowen raising its target to $30.
• Biohaven shares opened at $8.38 (down ~4.1%), trading near their 52‑week low with a market cap of ~$1.26B, negative EPS and a high debt-to-equity ratio (4.59), while institutional investors hold about 88.8% of the stock.

JPMorgan Chase & Co. trimmed its position in shares of Biohaven Ltd. (NYSE:BHVN - Free Report) by 48.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,335,455 shares of the company's stock after selling 1,236,587 shares during the period. JPMorgan Chase & Co. owned 1.26% of Biohaven worth $20,045,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. PNC Financial Services Group Inc. boosted its holdings in Biohaven by 113.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,383 shares of the company's stock worth $36,000 after buying an additional 1,268 shares during the period. PFS Partners LLC bought a new stake in Biohaven during the 3rd quarter valued at $60,000. Elkhorn Partners Limited Partnership lifted its position in shares of Biohaven by 26.1% during the second quarter. Elkhorn Partners Limited Partnership now owns 5,800 shares of the company's stock worth $82,000 after acquiring an additional 1,200 shares in the last quarter. Virtus Investment Advisers LLC boosted its holdings in shares of Biohaven by 47.7% in the second quarter. Virtus Investment Advisers LLC now owns 6,032 shares of the company's stock worth $85,000 after acquiring an additional 1,949 shares during the period. Finally, Focus Partners Wealth bought a new position in shares of Biohaven in the third quarter worth $87,000. Hedge funds and other institutional investors own 88.78% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on BHVN. Morgan Stanley decreased their price objective on Biohaven from $26.00 to $21.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 6th. Royal Bank Of Canada raised their target price on Biohaven from $22.00 to $23.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 3rd. TD Cowen lifted their target price on Biohaven from $15.00 to $30.00 and gave the company a "buy" rating in a report on Wednesday, March 11th. The Goldman Sachs Group upgraded Biohaven to a "strong-buy" rating in a research report on Friday, February 6th. Finally, Leerink Partners restated an "outperform" rating and issued a $15.00 price objective on shares of Biohaven in a research report on Tuesday, March 3rd. Three analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Biohaven has a consensus rating of "Moderate Buy" and an average target price of $22.43.

Biohaven Trading Down 4.1%

Shares of BHVN stock opened at $8.38 on Wednesday. The company has a market capitalization of $1.26 billion, a PE ratio of -1.20 and a beta of 1.15. Biohaven Ltd. has a 52-week low of $7.48 and a 52-week high of $31.18. The business's fifty day moving average is $11.24 and its 200 day moving average is $12.07. The company has a debt-to-equity ratio of 4.59, a quick ratio of 3.18 and a current ratio of 3.18.

Biohaven (NYSE:BHVN - Get Free Report) last posted its earnings results on Monday, March 2nd. The company reported ($1.21) EPS for the quarter, topping the consensus estimate of ($1.22) by $0.01. On average, equities research analysts anticipate that Biohaven Ltd. will post -8.9 EPS for the current fiscal 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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