New York State Common Retirement Fund Acquires 137,024 Shares of Biohaven Ltd. (NYSE:BHVN)

New York State Common Retirement Fund grew its position in Biohaven Ltd. (NYSE:BHVN) by 589.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 160,251 shares of the company’s stock after buying an additional 137,024 shares during the quarter. New York State Common Retirement Fund owned 0.16% of Biohaven worth $3,852,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Parallel Advisors LLC grew its stake in shares of Biohaven by 319.8% in 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 in the last quarter. KBC Group NV increased its position in Biohaven by 35.0% in the 1st quarter. KBC Group NV now owns 4,560 shares of the company’s stock valued at $110,000 after acquiring an additional 1,183 shares during the period. Quarry LP acquired a new position in Biohaven during the 4th quarter worth approximately $112,000. Lazard Asset Management LLC grew its holdings in shares of Biohaven by 47.4% in 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 period. Finally, Elkhorn Partners Limited Partnership lifted its stake in Biohaven by 50.0% in the 4th quarter. Elkhorn Partners Limited Partnership now owns 3,300 shares of the company’s stock valued at $123,000 after buying an additional 1,100 shares in the last quarter. Hedge funds and other institutional investors own 88.78% of the company’s stock.

Biohaven Price Performance

NYSE BHVN opened at $13.41 on Wednesday. Biohaven Ltd. has a 1-year low of $13.04 and a 1-year high of $55.70. The stock has a 50-day moving average of $15.06 and a two-hundred day moving average of $24.82. The company has a market cap of $1.37 billion, a P/E ratio of -1.43 and a beta of 0.91.

Biohaven (NYSE:BHVN) last posted its earnings results on Monday, May 12th. The company reported ($2.17) earnings per share for the quarter, missing the consensus estimate of ($1.67) by ($0.50). On average, analysts anticipate that Biohaven Ltd. will post -8.9 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on BHVN. Cantor Fitzgerald raised Biohaven to a “strong-buy” rating in a report on Tuesday, May 13th. Royal Bank Of Canada lowered shares of Biohaven from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $54.00 to $21.00 in a research report on Monday, May 19th. 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 report on Wednesday, June 18th. Robert W. Baird cut their price objective on shares of Biohaven from $60.00 to $57.00 and set an “outperform” rating on the stock in a research report on Monday, April 28th. Finally, William Blair upgraded shares of Biohaven to a “strong-buy” rating in a research note 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’s stock. According to data from MarketBeat.com, Biohaven presently has an average rating of “Buy” and an average target price 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.