643,946 Shares in Biohaven Ltd. $BHVN Purchased by T. Rowe Price Investment Management Inc.

Key Points

• T. Rowe Price Investment Management Inc. purchased 643,946 shares of Biohaven Ltd., valued at approximately $15.48 million, increasing its ownership to 0.63% of the company.
• Several other institutional investors also increased their holdings in Biohaven, indicating strong interest in the company, which now has 88.78% of its stock owned by institutions.
• Research analysts have largely maintained a Buy rating for Biohaven Ltd., with a consensus target price of around $54.23 despite some recent downward adjustments in price targets.

T. Rowe Price Investment Management Inc. bought a new stake in shares of Biohaven Ltd. (NYSE:BHVN - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 643,946 shares of the company's stock, valued at approximately $15,481,000. T. Rowe Price Investment Management Inc. owned approximately 0.63% of Biohaven at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in BHVN. PNC Financial Services Group Inc. increased its stake in shares of Biohaven by 53.7% in the first 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 during the period. RWA Wealth Partners LLC grew its position in shares of Biohaven by 7.0% during the 1st quarter. RWA Wealth Partners LLC now owns 12,622 shares of the company's stock valued at $303,000 after acquiring an additional 822 shares during the period. Hsbc Holdings PLC grew its position in shares of Biohaven by 10.8% during the 4th quarter. Hsbc Holdings PLC now owns 10,361 shares of the company's stock valued at $380,000 after acquiring an additional 1,006 shares during the period. Lazard Asset Management LLC raised 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 worth $119,000 after acquiring an additional 1,031 shares during the period. Finally, Parallel Advisors LLC raised its position in Biohaven by 319.8% during the first quarter. Parallel Advisors LLC now owns 1,360 shares of the company's stock worth $33,000 after acquiring an additional 1,036 shares during the period. 88.78% of the stock is owned by institutional investors and hedge funds.

Biohaven Stock Performance

Biohaven stock traded down $0.17 during mid-day trading on Friday, reaching $15.35. 999,656 shares of the company were exchanged, compared to its average volume of 2,025,180. Biohaven Ltd. has a twelve month low of $12.79 and a twelve month high of $55.70. The firm's 50-day simple moving average is $14.49 and its two-hundred day simple moving average is $20.31. 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 firm has a market cap of $1.62 billion, a PE ratio of -2.00 and a beta of 0.98.

Biohaven (NYSE:BHVN - Get Free Report) last posted its quarterly earnings data on Monday, August 11th. The company reported ($1.94) earnings per share for the quarter, hitting analysts' consensus estimates of ($1.94). Equities analysts predict that Biohaven Ltd. will post -8.9 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on BHVN shares. BTIG Research lifted their price target on Biohaven from $59.00 to $60.00 and gave the stock a "buy" rating in a research note on Tuesday, August 19th. Cantor Fitzgerald raised shares of Biohaven to a "strong-buy" rating in a research report on Tuesday, May 13th. Robert W. Baird decreased their price objective on shares of Biohaven from $57.00 to $52.00 and set an "outperform" rating on the stock in a report on Tuesday, August 12th. Leerink Partners dropped their target price 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, JPMorgan Chase & Co. reduced their price objective on Biohaven from $68.00 to $55.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 18th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $54.23.

Biohaven Company 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.