TD Asset Management Inc Acquires 41,316 Shares of Biohaven Ltd. $BHVN

Key Points

• TD Asset Management Inc increased its stake in Biohaven Ltd. by 16.5%, acquiring an additional 41,316 shares during the second quarter, totaling 291,028 shares owned.
• Biohaven stock experienced a 9.9% increase and is currently trading at $17.54, with a market capitalization of $1.86 billion.
• The consensus rating for Biohaven among analysts is a Buy, with an average target price of $48.85 despite a reported EPS of ($1.94) for the last quarter.

TD Asset Management Inc grew its position in Biohaven Ltd. (NYSE:BHVN - Free Report) by 16.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 291,028 shares of the company's stock after buying an additional 41,316 shares during the period. TD Asset Management Inc owned 0.29% of Biohaven worth $4,106,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. SVB Wealth LLC purchased a new position in shares of Biohaven in the 1st quarter worth approximately $25,000. PNC Financial Services Group Inc. grew its position 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 buying an additional 623 shares during the last quarter. IFP Advisors Inc grew its position 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 worth $61,000 after buying an additional 2,544 shares during the last quarter. KBC Group NV grew its position in shares of Biohaven by 35.0% in the 1st 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 last quarter. Finally, US Bancorp DE grew its position in shares of Biohaven by 62.8% in the 1st quarter. US Bancorp DE now owns 4,837 shares of the company's stock worth $116,000 after buying an additional 1,866 shares during the last quarter. Hedge funds and other institutional investors own 88.78% of the company's stock.

Biohaven Stock Up 9.9%

BHVN stock opened at $17.54 on Tuesday. The firm has a 50 day moving average of $15.19 and a 200 day moving average of $16.02. The stock has a market capitalization of $1.86 billion, a PE ratio of -2.29 and a beta of 1.03. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 1.91. Biohaven Ltd. has a 52 week low of $12.79 and a 52 week high of $54.98.

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

Analyst Ratings Changes

BHVN has been the topic of a number of analyst reports. Raymond James Financial raised shares of Biohaven from a "moderate buy" rating to a "strong-buy" rating in a research report on Wednesday, September 3rd. Bank of America cut their price objective on shares of Biohaven from $50.00 to $49.00 and set a "buy" rating on the stock in a research report on Tuesday, August 12th. Robert W. Baird cut their price objective on shares of Biohaven from $57.00 to $52.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 12th. BTIG Research lifted their target price on shares of Biohaven from $59.00 to $60.00 and gave the stock a "buy" rating in a research note on Tuesday, August 19th. Finally, UBS Group lowered their target price on shares of Biohaven from $27.00 to $26.00 and set a "buy" rating for the company in a research note on Tuesday, September 16th. Three analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $48.85.

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.

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