Russell Investments Group Ltd. Lowers Stock Position in Biohaven Ltd. $BHVN

Key Points

• Russell Investments Group Ltd. reduced its stake in Biohaven Ltd. by 59.6%, now owning approximately 0.06% of the company valued at $1,420,000 after selling 87,057 shares in the 1st quarter.
• Biohaven's stock is currently priced at $15.61, with a 12-month range between $12.79 and $55.70, and a recent forecast of -8.9 earnings per share for the current fiscal year.
• Research analysts have varied opinions on Biohaven, with two Strong Buy ratings, twelve Buy ratings, and target price estimates ranging significantly, including $60 and $30.

Russell Investments Group Ltd. decreased its position in Biohaven Ltd. (NYSE:BHVN - Free Report) by 59.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,068 shares of the company's stock after selling 87,057 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.06% of Biohaven worth $1,420,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. 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 worth $43,000 after acquiring an additional 623 shares in the last quarter. Hsbc Holdings PLC grew its position in Biohaven by 10.8% during the fourth quarter. Hsbc Holdings PLC now owns 10,361 shares of the company's stock valued at $380,000 after buying an additional 1,006 shares during the period. Lazard Asset Management LLC grew its position in Biohaven by 47.4% during the fourth quarter. Lazard Asset Management LLC now owns 3,207 shares of the company's stock valued at $119,000 after buying an additional 1,031 shares during the period. Parallel Advisors LLC grew its position in 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 buying an additional 1,036 shares during the period. Finally, KBC Group NV grew its position in Biohaven by 35.0% during the first quarter. KBC Group NV now owns 4,560 shares of the company's stock valued at $110,000 after buying an additional 1,183 shares during the period. Institutional investors own 88.78% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. reduced their price target on shares of Biohaven from $68.00 to $55.00 and set an "overweight" rating for the company in a research report on Wednesday, June 18th. Royal Bank Of Canada lowered shares of Biohaven from an "outperform" rating to a "sector perform" rating and cut their target price for the stock from $54.00 to $21.00 in a research report on Monday, May 19th. Bank of America cut their target price on shares of Biohaven from $50.00 to $49.00 and set a "buy" rating for the company in a research report on Tuesday, August 12th. Leerink Partners cut their target price on shares of Biohaven from $60.00 to $50.00 and set an "outperform" rating for the company in a research report on Tuesday, August 12th. Finally, Cantor Fitzgerald upgraded shares of Biohaven to a "strong-buy" rating in a research report on Tuesday, May 13th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, Biohaven currently has a consensus rating of "Buy" and an average target price of $54.23.

Biohaven Price Performance

Shares of Biohaven stock traded up $0.50 on Tuesday, reaching $15.89. The stock had a trading volume of 1,443,677 shares, compared to its average volume of 1,890,871. Biohaven Ltd. has a 1 year low of $12.79 and a 1 year high of $55.70. The company has a market cap of $1.68 billion, a P/E ratio of -2.07 and a beta of 1.02. 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 business's 50 day moving average is $14.53 and its two-hundred day moving average is $19.80.

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

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.