Simplify Asset Management Inc. Grows Position in Biohaven Ltd. $BHVN

Simplify Asset Management Inc. grew its stake in shares of Biohaven Ltd. (NYSE:BHVN) by 773.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 958,202 shares of the company’s stock after purchasing an additional 848,517 shares during the quarter. Biohaven makes up approximately 0.2% of Simplify Asset Management Inc.’s portfolio, making the stock its 22nd biggest position. Simplify Asset Management Inc. owned 0.91% of Biohaven worth $10,818,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. EverSource Wealth Advisors LLC boosted its stake in shares of Biohaven by 178.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 4,031 shares of the company’s stock valued at $46,000 after purchasing an additional 2,583 shares during the period. Leonteq Securities AG purchased a new stake in shares of Biohaven during the fourth quarter valued at approximately $78,000. IFP Advisors Inc raised its holdings in shares of Biohaven by 55.4% during the fourth quarter. IFP Advisors Inc now owns 4,069 shares of the company’s stock valued at $46,000 after acquiring an additional 1,450 shares in the last quarter. Handelsbanken Fonder AB raised its holdings in shares of Biohaven by 34.1% during the fourth quarter. Handelsbanken Fonder AB now owns 36,600 shares of the company’s stock valued at $413,000 after acquiring an additional 9,300 shares in the last quarter. Finally, Profund Advisors LLC raised its holdings in shares of Biohaven by 118.3% during the fourth quarter. Profund Advisors LLC now owns 77,279 shares of the company’s stock valued at $872,000 after acquiring an additional 41,881 shares in the last quarter. Hedge funds and other institutional investors own 88.78% of the company’s stock.

Biohaven Price Performance

BHVN opened at $9.45 on Monday. The stock has a fifty day simple moving average of $9.44 and a two-hundred day simple moving average of $10.32. The company has a current ratio of 7.41, a quick ratio of 7.41 and a debt-to-equity ratio of 1.87. The company has a market cap of $1.42 billion, a price-to-earnings ratio of -1.67 and a beta of 1.32. Biohaven Ltd. has a 12-month low of $7.48 and a 12-month high of $18.57.

Biohaven (NYSE:BHVN) last posted its quarterly earnings data on Monday, May 4th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.86) by ($0.02). Research analysts predict that Biohaven Ltd. will post -3 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on BHVN. Citigroup upped their target price on Biohaven from $14.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, April 2nd. Canaccord Genuity Group began coverage on Biohaven in a report on Monday, April 13th. They set a “buy” rating and a $21.00 target price for the company. Wall Street Zen downgraded Biohaven from a “sell” rating to a “strong sell” rating in a report on Sunday, April 26th. HC Wainwright decreased their target price on Biohaven from $11.00 to $10.00 and set a “neutral” rating for the company in a report on Wednesday, March 4th. Finally, Leerink Partners restated an “outperform” rating and set a $15.00 target price on shares of Biohaven in a report on Tuesday, March 3rd. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.27.

Biohaven Company Profile

Biohaven Ltd. (NYSE BHVN) is a clinical-stage biopharmaceutical company dedicated to developing and commercializing therapies for neurological and neurovascular diseases. Founded in 2013 as a spin-out from Yale University, Biohaven focuses on addressing high-unmet medical needs through innovative small-molecule and peptide-based platforms. The company is headquartered in New Haven, Connecticut, and maintains research activities across the United States, with collaborative ties in Europe and Asia via strategic partnerships.

The company’s most advanced program centers on calcitonin gene-related peptide (CGRP) receptor antagonists for the acute and preventive treatment of migraine.