Emerald Advisers LLC Sells 33,944 Shares of Biohaven Ltd. $BHVN

Emerald Advisers LLC lowered its holdings in shares of Biohaven Ltd. (NYSE:BHVN) by 9.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 321,009 shares of the company’s stock after selling 33,944 shares during the quarter. Emerald Advisers LLC owned about 0.31% of Biohaven worth $4,529,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of BHVN. KBC Group NV raised its holdings in Biohaven by 35.0% in the 1st quarter. KBC Group NV now owns 4,560 shares of the company’s stock worth $110,000 after acquiring an additional 1,183 shares during the period. Peregrine Capital Management LLC raised its holdings in Biohaven by 3.3% in the 1st quarter. Peregrine Capital Management LLC now owns 153,825 shares of the company’s stock worth $3,698,000 after acquiring an additional 4,946 shares during the period. WCM Investment Management LLC raised its holdings in Biohaven by 154.8% in the 1st quarter. WCM Investment Management LLC now owns 271,822 shares of the company’s stock worth $6,535,000 after acquiring an additional 165,157 shares during the period. VELA Investment Management LLC raised its holdings in Biohaven by 53.1% in the 1st quarter. VELA Investment Management LLC now owns 26,836 shares of the company’s stock worth $645,000 after acquiring an additional 9,306 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in Biohaven by 2.4% in the 1st quarter. Bank of New York Mellon Corp now owns 302,280 shares of the company’s stock worth $7,267,000 after acquiring an additional 7,202 shares during the period. Institutional investors own 88.78% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on BHVN. Robert W. Baird dropped their target price on shares of Biohaven from $57.00 to $52.00 and set an “outperform” rating on the stock in a report on Tuesday, August 12th. Weiss Ratings restated a “sell (e+)” rating on shares of Biohaven in a report on Wednesday, October 8th. HC Wainwright restated a “buy” rating and set a $30.00 price objective (down previously from $54.00) on shares of Biohaven in a report on Tuesday, August 12th. Leerink Partners dropped their price objective on shares of Biohaven from $60.00 to $50.00 and set an “outperform” rating on the stock in a report on Tuesday, August 12th. Finally, Citigroup started coverage on shares of Biohaven in a report on Wednesday, September 17th. They set a “buy” rating and a $28.00 price objective on the stock. Three research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Biohaven has an average rating of “Buy” and a consensus target price of $48.85.

Biohaven Price Performance

NYSE:BHVN opened at $18.08 on Thursday. The firm has a market cap of $1.91 billion, a PE ratio of -2.36 and a beta of 1.03. Biohaven Ltd. has a 12 month low of $12.79 and a 12 month high of $54.98. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 1.91. The company’s 50-day moving average price is $15.51 and its two-hundred day moving average price is $16.00.

Biohaven (NYSE:BHVN) last released its quarterly earnings results on Monday, August 11th. The company reported ($1.94) EPS for the quarter, meeting analysts’ consensus estimates of ($1.94). On average, equities analysts anticipate that Biohaven Ltd. will post -8.9 EPS for the current fiscal year.

Biohaven Company 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.