Millennium Management LLC Has $21.67 Million Holdings in Biohaven Ltd. $BHVN

Key Points

• Millennium Management LLC significantly increased its stake in Biohaven Ltd. by acquiring 830,457 shares, bringing its total holdings to approximately 0.88% of the company, valued at about $21.67 million.
• Institutional investors collectively own 88.78% of Biohaven's stock, with other notable hedge funds like PNC Financial Services Group and Lazard Asset Management also increasing their positions in the first quarter.
• Biohaven's stock price has fluctuations within a year, hitting a 52-week low of $12.79 and a high of $55.70, currently trading around $13.94.

Millennium Management LLC boosted its stake in shares of Biohaven Ltd. (NYSE:BHVN - Free Report) by 1,172.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 901,258 shares of the company's stock after purchasing an additional 830,457 shares during the quarter. Millennium Management LLC owned approximately 0.88% of Biohaven worth $21,666,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. SVB Wealth LLC purchased a new position in Biohaven during the 1st quarter worth approximately $25,000. Parallel Advisors LLC grew its stake in shares of Biohaven by 319.8% in the 1st quarter. Parallel Advisors LLC now owns 1,360 shares of the company's stock valued at $33,000 after purchasing an additional 1,036 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of 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 purchasing an additional 623 shares during the last quarter. IFP Advisors Inc grew its stake 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 purchasing an additional 2,544 shares during the last quarter. Finally, KBC Group NV grew its stake in shares of Biohaven by 35.0% in the 1st quarter. KBC Group NV now owns 4,560 shares of the company's stock valued at $110,000 after purchasing an additional 1,183 shares during the last quarter. Institutional investors and hedge funds own 88.78% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on BHVN shares. Robert W. Baird reduced their price target on Biohaven from $57.00 to $52.00 and set an "outperform" rating for the company in a report on Tuesday, August 12th. BTIG Research boosted their price target on Biohaven from $59.00 to $60.00 and gave the stock a "buy" rating in a report on Tuesday, August 19th. Bank of America cut their price target on Biohaven from $50.00 to $49.00 and set a "buy" rating for the company in a report on Tuesday, August 12th. Leerink Partners lowered their price objective on Biohaven from $60.00 to $50.00 and set an "outperform" rating for the company in a research report on Tuesday, August 12th. Finally, Raymond James Financial upgraded Biohaven from a "moderate buy" rating to a "strong-buy" rating in a research note on Wednesday, September 3rd. 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 stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $55.71.

Biohaven Stock Performance

BHVN traded down $0.18 during trading hours on Monday, hitting $13.75. The company's stock had a trading volume of 1,726,420 shares, compared to its average volume of 2,005,345. Biohaven Ltd. has a fifty-two week low of $12.79 and a fifty-two week 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 firm has a market capitalization of $1.45 billion, a PE ratio of -1.80 and a beta of 1.02. The company has a 50-day simple moving average of $14.61 and a 200 day simple moving average of $18.21.

Biohaven (NYSE:BHVN - Get Free Report) last posted its earnings results on Monday, August 11th. The company reported ($1.94) EPS for the quarter, meeting the consensus estimate of ($1.94). As a group, sell-side analysts expect that Biohaven Ltd. will post -8.9 EPS for the current 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.