WCM Investment Management LLC Has $4.11 Million Position in Biohaven Ltd. $BHVN

Key Points

• WCM Investment Management LLC increased its stake in Biohaven Ltd. by 7.4% during the second quarter, bringing its total shares owned to 291,928, valued at approximately $4.11 million.
• Analysts have mixed ratings on Biohaven, with three assigning a Strong Buy rating and a consensus target price of $48.85, despite some lowering their price targets due to recent performance.
• Biohaven's stock performance has been volatile, with a 12-month low of $12.79 and a high of $54.98, currently trading around $16.40.

WCM Investment Management LLC lifted its position in shares of Biohaven Ltd. (NYSE:BHVN - Free Report) by 7.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 291,928 shares of the company's stock after buying an additional 20,106 shares during the period. WCM Investment Management LLC owned about 0.29% of Biohaven worth $4,113,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of BHVN. SVB Wealth LLC acquired a new position in shares of Biohaven during the first quarter worth about $25,000. PNC Financial Services Group Inc. boosted 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 boosted 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. KBC Group NV boosted 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. Finally, US Bancorp DE boosted its position in Biohaven by 62.8% during the first quarter. US Bancorp DE now owns 4,837 shares of the company's stock valued at $116,000 after purchasing an additional 1,866 shares during the last quarter. 88.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Leerink Partners reduced their price target on Biohaven from $60.00 to $50.00 and set an "outperform" rating for the company in a research report on Tuesday, August 12th. Weiss Ratings reissued a "sell (e+)" rating on shares of Biohaven in a research report on Wednesday, October 8th. Robert W. Baird reduced their price target on Biohaven from $57.00 to $52.00 and set an "outperform" rating for the company in a research report on Tuesday, August 12th. Raymond James Financial raised Biohaven from a "moderate buy" rating to a "strong-buy" rating in a research report on Wednesday, September 3rd. Finally, Citigroup assumed coverage on Biohaven in a research report on Wednesday, September 17th. They set a "buy" rating and a $28.00 price target for the company. Three investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Biohaven currently has a consensus rating of "Buy" and an average target price of $48.85.

Biohaven Stock Performance

BHVN opened at $16.40 on Friday. Biohaven Ltd. has a 12-month low of $12.79 and a 12-month high of $54.98. The stock has a market cap of $1.73 billion, a price-to-earnings ratio of -2.14 and a beta of 1.03. The business has a 50 day moving average of $15.08 and a 200-day moving average of $16.16. 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 (NYSE:BHVN - Get Free Report) last released its quarterly earnings data on Monday, August 11th. The company reported ($1.94) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($1.94). On average, equities research analysts expect that Biohaven Ltd. will post -8.9 earnings per share for the current year.

About Biohaven

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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