Stempoint Capital LP Takes $13.49 Million Position in Biohaven Ltd. $BHVN

Key Points

• Stempoint Capital purchased 1,594,491 Biohaven shares worth approximately $13.49 million, giving the fund a 1.06% stake and making BHVN its 12th-largest holding.
• Institutional interest remains high, with hedge funds and other institutional investors owning 88.78% of Biohaven; Janus Henderson, Suvretta Capital, Stifel and others also increased their positions.
• Analyst sentiment is mixed but leans positive, with Biohaven holding a “Moderate Buy” consensus rating and a $21.62 average price target. Shares opened at $13.42, while the company reported a quarterly loss of $0.88 per share, slightly below expectations.

Stempoint Capital LP purchased a new position in Biohaven Ltd. (NYSE:BHVN - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,594,491 shares of the company's stock, valued at approximately $13,489,000. Biohaven comprises 2.6% of Stempoint Capital LP's investment portfolio, making the stock its 12th largest position. Stempoint Capital LP owned approximately 1.06% of Biohaven at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Janus Henderson Group PLC raised its holdings in Biohaven by 1,145.9% during the 1st quarter. Janus Henderson Group PLC now owns 17,534,612 shares of the company's stock valued at $148,214,000 after buying an additional 16,127,247 shares during the period. Suvretta Capital Management LLC boosted its stake in Biohaven by 83.0% during the fourth quarter. Suvretta Capital Management LLC now owns 10,286,937 shares of the company's stock worth $116,140,000 after buying an additional 4,666,666 shares during the period. Stifel Financial Corp grew its holdings in Biohaven by 50.3% during the 4th quarter. Stifel Financial Corp now owns 9,939,856 shares of the company's stock valued at $112,221,000 after purchasing an additional 3,328,506 shares during the last quarter. Infinitum Asset Management LLC grew its stake in shares of Biohaven by 267.6% during the fourth quarter. Infinitum Asset Management LLC now owns 6,250,000 shares of the company's stock valued at $70,562,000 after buying an additional 4,550,000 shares during the last quarter. Finally, State Street Corp increased its stake in Biohaven by 34.2% in the fourth quarter. State Street Corp now owns 5,716,487 shares of the company's stock worth $64,539,000 after purchasing an additional 1,458,204 shares during the period. Hedge funds and other institutional investors own 88.78% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Weiss Ratings restated a "sell (e+)" rating on shares of Biohaven in a research note on Tuesday, June 2nd. Bank of America restated an "underperform" rating and set a $11.00 target price (down from $12.00) on shares of Biohaven in a research note on Monday, June 29th. Morgan Stanley dropped their price target on Biohaven from $21.00 to $18.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 13th. Raymond James Financial restated a "strong-buy" rating on shares of Biohaven in a research note on Wednesday, May 27th. Finally, Needham & Company LLC set a $11.00 price objective on Biohaven in a research note on Monday, June 29th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Biohaven has an average rating of "Moderate Buy" and an average price target of $21.62.

Biohaven Trading Down 2.6%

Shares of NYSE:BHVN opened at $13.42 on Thursday. The company has a debt-to-equity ratio of 1.87, a current ratio of 7.41 and a quick ratio of 7.41. The firm has a market capitalization of $2.02 billion, a price-to-earnings ratio of -2.37 and a beta of 1.28. Biohaven Ltd. has a 1 year low of $7.48 and a 1 year high of $18.57. The business's 50 day moving average price is $13.43 and its 200-day moving average price is $11.53.

Biohaven (NYSE:BHVN - Get Free Report) last released its earnings results on Monday, May 4th. The company reported ($0.88) EPS for the quarter, missing analysts' consensus estimates of ($0.86) by ($0.02). On average, equities research analysts forecast that Biohaven Ltd. will post -3.1 earnings per share for the current fiscal year.

Biohaven 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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