Biohaven Ltd. $BHVN Stake Boosted by Prosight Management LP

Prosight Management LP boosted its holdings in Biohaven Ltd. (NYSE:BHVN) by 11.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 600,000 shares of the company’s stock after purchasing an additional 60,929 shares during the quarter. Biohaven makes up about 2.1% of Prosight Management LP’s investment portfolio, making the stock its 20th largest holding. Prosight Management LP owned about 0.57% of Biohaven worth $9,006,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Bellevue Group AG raised its holdings in shares of Biohaven by 37.3% during the second quarter. Bellevue Group AG now owns 2,802,853 shares of the company’s stock worth $39,548,000 after purchasing an additional 762,000 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Biohaven by 31.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,572,042 shares of the company’s stock valued at $36,292,000 after buying an additional 612,209 shares during the period. Armistice Capital LLC grew its position in shares of Biohaven by 27.6% during the 2nd quarter. Armistice Capital LLC now owns 2,136,000 shares of the company’s stock valued at $30,139,000 after buying an additional 462,578 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Biohaven by 3.7% during the 2nd quarter. Geode Capital Management LLC now owns 2,030,919 shares of the company’s stock valued at $28,660,000 after buying an additional 71,939 shares during the last quarter. Finally, Holocene Advisors LP raised its stake in Biohaven by 19.1% during the second quarter. Holocene Advisors LP now owns 1,495,641 shares of the company’s stock worth $21,103,000 after acquiring an additional 239,889 shares during the period. Institutional investors own 88.78% of the company’s stock.

Biohaven Price Performance

Shares of BHVN opened at $9.57 on Friday. Biohaven Ltd. has a one year low of $7.48 and a one year high of $31.18. The stock’s fifty day moving average is $11.50 and its 200-day moving average is $12.45. The company has a debt-to-equity ratio of 4.59, a quick ratio of 3.18 and a current ratio of 3.18. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of -1.37 and a beta of 1.15.

Biohaven (NYSE:BHVN) last posted its quarterly earnings data on Monday, March 2nd. The company reported ($1.21) earnings per share for the quarter, topping the consensus estimate of ($1.22) by $0.01. Equities analysts anticipate that Biohaven Ltd. will post -8.9 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on BHVN. Leerink Partners reissued an “outperform” rating and issued a $15.00 target price on shares of Biohaven in a report on Tuesday, March 3rd. Citigroup reaffirmed a “buy” rating on shares of Biohaven in a report on Friday, December 26th. The Goldman Sachs Group upgraded Biohaven to a “strong-buy” rating in a research report on Friday, February 6th. Raymond James Financial reissued a “strong-buy” rating on shares of Biohaven in a report on Monday. Finally, TD Cowen upped their price objective on Biohaven from $15.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday. Three analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Biohaven has an average rating of “Moderate Buy” and an average price target of $24.93.

About Biohaven

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.