Armistice Capital LLC Raises Stock Holdings in Biohaven Ltd. $BHVN

Armistice Capital LLC boosted its stake in Biohaven Ltd. (NYSE:BHVN) by 27.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,136,000 shares of the company’s stock after purchasing an additional 462,578 shares during the period. Biohaven makes up approximately 0.5% of Armistice Capital LLC’s holdings, making the stock its 25th largest position. Armistice Capital LLC owned about 2.02% of Biohaven worth $30,139,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of BHVN. SVB Wealth LLC purchased a new stake in Biohaven in the first quarter worth about $25,000. PNC Financial Services Group Inc. boosted its stake in 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. US Bancorp DE lifted its stake in Biohaven by 62.8% in the first quarter. US Bancorp DE now owns 4,837 shares of the company’s stock worth $116,000 after purchasing an additional 1,866 shares during the last quarter. Virtus Investment Advisers LLC grew its position in Biohaven by 47.7% in the 2nd quarter. Virtus Investment Advisers LLC now owns 6,032 shares of the company’s stock valued at $85,000 after acquiring an additional 1,949 shares during the last quarter. Finally, Quantbot Technologies LP boosted its position in Biohaven by 1,097.8% in the 2nd quarter. Quantbot Technologies LP now owns 8,840 shares of the company’s stock valued at $125,000 after buying an additional 8,102 shares during the period. Institutional investors own 88.78% of the company’s stock.

Biohaven Stock Up 7.6%

NYSE BHVN opened at $11.41 on Friday. The business’s fifty day simple moving average is $12.55 and its 200-day simple moving average is $14.00. Biohaven Ltd. has a 52 week low of $7.48 and a 52 week high of $44.28. The company has a quick ratio of 2.86, a current ratio of 2.86 and a debt-to-equity ratio of 1.91. The firm has a market cap of $1.21 billion, a PE ratio of -1.50 and a beta of 1.13.

Biohaven (NYSE:BHVN) last released its quarterly earnings results on Monday, November 10th. The company reported ($1.64) EPS for the quarter, beating the consensus estimate of ($1.91) by $0.27. As a group, equities analysts anticipate that Biohaven Ltd. will post -8.9 earnings per share for the current year.

Insider Activity at Biohaven

In other Biohaven news, CEO Vlad Coric purchased 666,666 shares of Biohaven stock in a transaction dated Thursday, November 13th. The shares were acquired at an average price of $7.50 per share, with a total value of $4,999,995.00. Following the completion of the transaction, the chief executive officer owned 1,195,275 shares of the company’s stock, valued at $8,964,562.50. This trade represents a 126.12% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Gregory Bailey acquired 400,000 shares of the business’s stock in a transaction dated Thursday, November 13th. The shares were bought at an average cost of $7.50 per share, for a total transaction of $3,000,000.00. Following the transaction, the director directly owned 2,020,071 shares of the company’s stock, valued at approximately $15,150,532.50. This trade represents a 24.69% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have bought 4,416,999 shares of company stock valued at $33,144,833. 16.00% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Biohaven in a report on Monday. Sanford C. Bernstein reiterated a “market perform” rating and issued a $9.00 target price (down from $34.00) on shares of Biohaven in a research note on Thursday, November 6th. Bank of America downgraded Biohaven from a “buy” rating to a “neutral” rating and set a $10.00 target price for the company. in a report on Wednesday, November 5th. TD Cowen reduced their price objective on Biohaven from $50.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating on shares of Biohaven in a report on Wednesday, November 5th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $25.93.

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.