Empowered Funds LLC Takes Position in Biohaven Ltd. $BHVN

Empowered Funds LLC bought a new position in Biohaven Ltd. (NYSE:BHVN) during the second quarter, Holdings Channel reports. The fund bought 152,060 shares of the company’s stock, valued at approximately $2,263,000.

Several other institutional investors also recently modified their holdings of the business. Janus Henderson Group PLC boosted its stake in Biohaven by 1,145.9% during the first quarter. Janus Henderson Group PLC now owns 17,534,612 shares of the company’s stock worth $148,214,000 after acquiring an additional 16,127,247 shares in the last quarter. BlackRock Inc. bought a new position in shares of Biohaven during the second quarter valued at approximately $196,574,000. Jupiter Topco LLC purchased a new position in shares of Biohaven during the second quarter valued at approximately $127,852,000. Suvretta Capital Management LLC lifted its holdings in shares of Biohaven by 83.0% during the fourth quarter. Suvretta Capital Management LLC now owns 10,286,937 shares of the company’s stock valued at $116,140,000 after purchasing an additional 4,666,666 shares during the last quarter. Finally, Infinitum Asset Management LLC boosted its position in shares of Biohaven by 267.6% in the 4th quarter. Infinitum Asset Management LLC now owns 6,250,000 shares of the company’s stock worth $70,562,000 after purchasing an additional 4,550,000 shares in the last quarter. 88.78% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on BHVN shares. Needham & Company LLC set a $11.00 price target on Biohaven in a research note on Monday, June 29th. TD Cowen reissued a “buy” rating on shares of Biohaven in a report on Wednesday, August 26th. Morgan Stanley boosted their target price on Biohaven from $18.00 to $19.00 and gave the stock an “overweight” rating in a report on Wednesday, August 12th. Raymond James Financial restated a “strong-buy” rating and set a $30.00 price target on shares of Biohaven in a report on Wednesday, August 26th. Finally, Bank of America reaffirmed an “underperform” rating and issued a $11.00 price target (down from $12.00) on shares of Biohaven in a research report on Monday, June 29th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $18.94.

Biohaven Stock Up 0.3%

Biohaven stock opened at $15.78 on Thursday. The firm has a market cap of $2.38 billion, a price-to-earnings ratio of -3.40 and a beta of 1.28. The stock has a fifty day simple moving average of $14.85 and a two-hundred day simple moving average of $11.96. Biohaven Ltd. has a 12 month low of $7.48 and a 12 month high of $18.57. The company has a current ratio of 4.73, a quick ratio of 4.73 and a debt-to-equity ratio of 21.23.

Biohaven (NYSE:BHVN) last announced its quarterly earnings results on Monday, August 10th. The company reported ($0.91) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.15). Equities analysts predict that Biohaven Ltd. will post -3.3 EPS for the current fiscal year.

Biohaven 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.