Biohaven Ltd. $BHVN Shares Purchased by Rhumbline Advisers

Rhumbline Advisers increased its stake in shares of Biohaven Ltd. (NYSE:BHVN) by 6.2% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 124,839 shares of the company’s stock after acquiring an additional 7,244 shares during the period. Rhumbline Advisers owned approximately 0.12% of Biohaven worth $3,001,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BHVN. Millennium Management LLC lifted its position in Biohaven by 1,172.9% during the 1st quarter. Millennium Management LLC now owns 901,258 shares of the company’s stock worth $21,666,000 after acquiring an additional 830,457 shares in the last quarter. T. Rowe Price Investment Management Inc. acquired a new position in Biohaven during the 1st quarter worth approximately $15,481,000. Fiera Capital Corp acquired a new position in Biohaven during the 1st quarter worth approximately $13,983,000. Wellington Management Group LLP increased its holdings in Biohaven by 160.7% during the 4th quarter. Wellington Management Group LLP now owns 634,055 shares of the company’s stock worth $23,682,000 after purchasing an additional 390,888 shares during the last quarter. Finally, Nuveen Asset Management LLC increased its holdings in Biohaven by 55.1% during the 4th quarter. Nuveen Asset Management LLC now owns 919,235 shares of the company’s stock worth $34,333,000 after purchasing an additional 326,636 shares during the last quarter. 88.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BHVN has been the topic of several analyst reports. BTIG Research lifted their price objective on Biohaven from $59.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, August 19th. Raymond James Financial upgraded Biohaven from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, September 3rd. HC Wainwright restated a “buy” rating and set a $30.00 price objective (down from $54.00) on shares of Biohaven in a report on Tuesday, August 12th. Bank of America dropped their price objective on Biohaven from $50.00 to $49.00 and set a “buy” rating on the stock in a report on Tuesday, August 12th. Finally, Royal Bank Of Canada downgraded Biohaven from an “outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $54.00 to $21.00 in a report on Monday, May 19th. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $55.62.

Biohaven Price Performance

Shares of BHVN opened at $13.75 on Tuesday. The company has a market cap of $1.45 billion, a P/E ratio of -1.80 and a beta of 1.02. The stock has a fifty day moving average price of $14.61 and a 200 day moving average price of $18.21. The company has a debt-to-equity ratio of 1.91, a current ratio of 3.82 and a quick ratio of 3.82. Biohaven Ltd. has a 12 month low of $12.79 and a 12 month high of $55.70.

Biohaven (NYSE:BHVN) last issued its quarterly earnings data on Monday, August 11th. The company reported ($1.94) EPS for the quarter, hitting analysts’ consensus estimates of ($1.94). On average, research analysts forecast 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.