Arizona State Retirement System Acquires 1,810 Shares of Biohaven Ltd. (NYSE:BHVN)

Arizona State Retirement System grew its holdings in Biohaven Ltd. (NYSE:BHVN) by 7.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,655 shares of the company’s stock after purchasing an additional 1,810 shares during the period. Arizona State Retirement System’s holdings in Biohaven were worth $593,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Parallel Advisors LLC grew its position in Biohaven by 319.8% during the first quarter. Parallel Advisors LLC now owns 1,360 shares of the company’s stock valued at $33,000 after buying an additional 1,036 shares during the period. Quarry LP bought a new position in shares of Biohaven in the fourth quarter worth approximately $112,000. Lazard Asset Management LLC boosted its position in shares of Biohaven by 47.4% in the fourth quarter. Lazard Asset Management LLC now owns 3,207 shares of the company’s stock worth $119,000 after purchasing an additional 1,031 shares during the period. Elkhorn Partners Limited Partnership boosted its position in shares of Biohaven by 50.0% in the fourth quarter. Elkhorn Partners Limited Partnership now owns 3,300 shares of the company’s stock worth $123,000 after purchasing an additional 1,100 shares during the period. Finally, KBC Group NV boosted its position in shares of Biohaven by 35.0% in the first quarter. KBC Group NV now owns 4,560 shares of the company’s stock worth $110,000 after purchasing an additional 1,183 shares during the period. 88.78% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Biohaven Stock Performance

Biohaven stock opened at $13.81 on Tuesday. The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of -1.47 and a beta of 0.91. Biohaven Ltd. has a fifty-two week low of $13.04 and a fifty-two week high of $55.70. The stock’s fifty day moving average is $15.31 and its two-hundred day moving average is $25.07.

Biohaven (NYSE:BHVN) last posted its quarterly earnings data on Monday, May 12th. The company reported ($2.17) EPS for the quarter, missing analysts’ consensus estimates of ($1.67) by ($0.50). As a group, sell-side analysts forecast that Biohaven Ltd. will post -8.9 EPS for the current fiscal year.

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.