SeaBridge Investment Advisors LLC trimmed its stake in shares of Biohaven Ltd. (NYSE:BHVN - Free Report) by 51.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,923 shares of the company's stock after selling 19,906 shares during the quarter. SeaBridge Investment Advisors LLC's holdings in Biohaven were worth $267,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SVB Wealth LLC acquired a new position in Biohaven in the 1st quarter valued at approximately $25,000. Parallel Advisors LLC increased its position in 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 acquiring an additional 1,036 shares during the period. PNC Financial Services Group Inc. increased its position in shares of Biohaven by 53.7% during the first quarter. PNC Financial Services Group Inc. now owns 1,783 shares of the company's stock worth $43,000 after buying an additional 623 shares during the period. IFP Advisors Inc increased its position in shares of Biohaven by 84,800.0% during the first quarter. IFP Advisors Inc now owns 2,547 shares of the company's stock worth $61,000 after buying an additional 2,544 shares during the period. Finally, KBC Group NV increased its position in shares of Biohaven by 35.0% during the first quarter. KBC Group NV now owns 4,560 shares of the company's stock worth $110,000 after buying an additional 1,183 shares during the period. 88.78% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on BHVN. Morgan Stanley decreased their price objective on shares of Biohaven from $63.00 to $54.00 and set an "overweight" rating for the company in a research report on Tuesday, August 12th. Bank of America decreased their price objective 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. BTIG Research increased their price objective on shares of Biohaven from $59.00 to $60.00 and gave the stock a "buy" rating in a research report on Tuesday, August 19th. JPMorgan Chase & Co. cut their target price on shares of Biohaven from $68.00 to $55.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 18th. Finally, Raymond James Financial raised shares of Biohaven from a "moderate buy" rating to a "strong-buy" rating in a research note on Wednesday, September 3rd. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $48.85.
Read Our Latest Analysis on Biohaven
Biohaven Stock Performance
NYSE BHVN opened at $14.99 on Friday. Biohaven Ltd. has a 52-week low of $12.79 and a 52-week high of $55.70. The company has a 50-day simple moving average of $14.66 and a 200 day simple moving average of $17.31. The company has a debt-to-equity ratio of 1.91, a quick ratio of 3.82 and a current ratio of 3.82. The company has a market capitalization of $1.59 billion, a PE ratio of -1.96 and a beta of 1.02.
Biohaven (NYSE:BHVN - Get Free Report) last posted its quarterly earnings data on Monday, August 11th. The company reported ($1.94) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($1.94). On average, research analysts predict that Biohaven Ltd. will post -8.9 EPS for the current year.
Biohaven Company Profile
(
Free Report)
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.
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