BNP Paribas Financial Markets Raises Stock Holdings in Biohaven Ltd. $BHVN

BNP Paribas Financial Markets lifted its holdings in Biohaven Ltd. (NYSE:BHVN) by 148.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,093,816 shares of the company’s stock after purchasing an additional 1,250,252 shares during the period. BNP Paribas Financial Markets’ holdings in Biohaven were worth $23,639,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. PNC Financial Services Group Inc. raised its holdings in shares of Biohaven by 113.7% in the third quarter. PNC Financial Services Group Inc. now owns 2,383 shares of the company’s stock worth $36,000 after buying an additional 1,268 shares during the period. EverSource Wealth Advisors LLC grew its stake in Biohaven by 178.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 4,031 shares of the company’s stock worth $46,000 after purchasing an additional 2,583 shares in the last quarter. IFP Advisors Inc grew its stake in Biohaven by 55.4% in the fourth quarter. IFP Advisors Inc now owns 4,069 shares of the company’s stock worth $46,000 after purchasing an additional 1,450 shares in the last quarter. Focus Partners Wealth bought a new position in Biohaven in the third quarter worth approximately $87,000. Finally, Leonteq Securities AG bought a new position in Biohaven in the fourth quarter worth approximately $78,000. 88.78% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on BHVN. The Goldman Sachs Group raised Biohaven to a “strong-buy” rating in a research report on Friday, February 6th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Biohaven in a research report on Tuesday. Wall Street Zen cut Biohaven from a “sell” rating to a “strong sell” rating in a research report on Sunday, April 26th. Canaccord Genuity Group assumed coverage on Biohaven in a research report on Monday, April 13th. They issued a “buy” rating and a $21.00 price objective for the company. Finally, Royal Bank Of Canada lowered their price objective on Biohaven from $23.00 to $22.00 and set an “outperform” rating for the company in a research report on Tuesday, May 5th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $22.27.

Biohaven Stock Performance

Shares of BHVN stock opened at $10.84 on Friday. The firm has a market capitalization of $1.63 billion, a price-to-earnings ratio of -1.91 and a beta of 1.35. The company has a debt-to-equity ratio of 1.87, a current ratio of 7.41 and a quick ratio of 7.41. The business has a fifty day moving average of $9.74 and a 200 day moving average of $10.43. Biohaven Ltd. has a 1 year low of $7.48 and a 1 year high of $18.57.

Biohaven (NYSE:BHVN) last released its quarterly earnings data on Monday, May 4th. The company reported ($0.88) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.86) by ($0.02). As a group, research analysts expect that Biohaven Ltd. will post -3.03 earnings per share for the current year.

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.