XTX Topco Ltd Invests $900,000 in Biohaven Ltd. (NYSE:BHVN)

Key Points

• XTX Topco Ltd acquired 37,446 shares of Biohaven Ltd. (NYSE:BHVN) valued at approximately $900,000 in the 1st quarter of the year.
• The stock has shown a significant price fluctuation with a 12-month low of $12.79 and a high of $55.70, currently trading at $14.70.
• Analysts have mixed assessments, with Cantor Fitzgerald upgrading Biohaven to a "strong-buy," while JPMorgan and Royal Bank Of Canada have lowered their target prices substantially.

XTX Topco Ltd acquired a new position in shares of Biohaven Ltd. (NYSE:BHVN - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 37,446 shares of the company's stock, valued at approximately $900,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in BHVN. Parallel Advisors LLC lifted its stake in shares of 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 last quarter. IFP Advisors Inc grew its holdings 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 purchasing an additional 2,544 shares during the last quarter. KBC Group NV increased its stake in shares of Biohaven by 35.0% in the first quarter. KBC Group NV now owns 4,560 shares of the company's stock valued at $110,000 after buying an additional 1,183 shares during the period. Quarry LP acquired a new stake in Biohaven during the 4th quarter worth approximately $112,000. Finally, Lazard Asset Management LLC grew its holdings in Biohaven by 47.4% during the 4th 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 last quarter. Institutional investors own 88.78% of the company's stock.

Biohaven Stock Performance

Shares of Biohaven stock traded up $0.51 during trading hours on Tuesday, hitting $15.22. The company's stock had a trading volume of 1,562,021 shares, compared to its average volume of 1,955,289. The firm has a fifty day moving average of $14.68 and a 200-day moving average of $23.25. Biohaven Ltd. has a twelve month low of $12.79 and a twelve month high of $55.70. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of -1.63 and a beta of 0.98.

Biohaven (NYSE:BHVN - Get Free Report) last released its earnings results on Monday, May 12th. The company reported ($2.17) earnings per share for the quarter, missing analysts' consensus estimates of ($1.67) by ($0.50). On average, sell-side analysts expect that Biohaven Ltd. will post -8.9 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on BHVN shares. Cantor Fitzgerald upgraded shares of Biohaven to a "strong-buy" rating in a research report on Tuesday, May 13th. JPMorgan Chase & Co. cut their price objective on shares of Biohaven from $68.00 to $55.00 and set an "overweight" rating on the stock in a report on Wednesday, June 18th. Robert W. Baird lowered their target price on shares of Biohaven from $60.00 to $57.00 and set an "outperform" rating for the company in a report on Monday, April 28th. Royal Bank Of Canada cut shares of Biohaven from an "outperform" rating to a "sector perform" rating and dropped their target price for the stock from $54.00 to $21.00 in a research report on Monday, May 19th. Finally, William Blair raised shares of Biohaven to a "strong-buy" rating in a research report on Thursday, April 24th. One analyst has rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $58.46.

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.