VIRGINIA RETIREMENT SYSTEMS ET Al Takes $1.31 Million Position in Biohaven Ltd. $BHVN

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Biohaven Ltd. (NYSE:BHVN) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 88,400 shares of the company’s stock, valued at approximately $1,315,000.

Several other institutional investors have also recently made changes to their positions in BHVN. PNC Financial Services Group Inc. raised its stake in Biohaven by 113.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,383 shares of the company’s stock valued at $36,000 after purchasing an additional 1,268 shares during the period. IFP Advisors Inc boosted its stake in Biohaven by 55.4% in the 4th quarter. IFP Advisors Inc now owns 4,069 shares of the company’s stock worth $46,000 after purchasing an additional 1,450 shares during the period. Rafferty Asset Management LLC boosted its stake in Biohaven by 1.3% in the 2nd quarter. Rafferty Asset Management LLC now owns 121,189 shares of the company’s stock worth $1,710,000 after purchasing an additional 1,503 shares during the period. ProShare Advisors LLC grew its holdings in Biohaven by 10.8% during the 4th quarter. ProShare Advisors LLC now owns 17,138 shares of the company’s stock valued at $193,000 after buying an additional 1,669 shares in the last quarter. Finally, Swiss National Bank grew its holdings in Biohaven by 1.1% during the 3rd quarter. Swiss National Bank now owns 168,300 shares of the company’s stock valued at $2,526,000 after buying an additional 1,800 shares in the last quarter. Hedge funds and other institutional investors own 88.78% of the company’s stock.

Biohaven Stock Down 0.3%

NYSE BHVN opened at $12.76 on Friday. The company has a debt-to-equity ratio of 21.23, a quick ratio of 4.73 and a current ratio of 4.73. The company has a market capitalization of $1.93 billion, a P/E ratio of -2.75 and a beta of 1.28. Biohaven Ltd. has a one year low of $7.48 and a one year high of $18.57. The stock has a 50 day moving average price of $14.73 and a 200-day moving average price of $12.11.

Biohaven (NYSE:BHVN) last announced its quarterly earnings results on Monday, August 10th. The company reported ($0.91) earnings per share for the quarter, missing the consensus estimate of ($0.76) by ($0.15). As a group, equities analysts predict that Biohaven Ltd. will post -3.33 EPS for the current fiscal year.

Biohaven News Summary

Here are the key news stories impacting Biohaven this week:

• Negative Sentiment: The FDA paused new patient enrollment in pivotal BHV-7000 trials following findings from rodent studies. The hold raises safety concerns, could delay the development timeline and increases the risk of additional regulatory requirements or changes to the program. Reuters article
• Negative Sentiment: The regulatory setback affects a key late-stage pipeline asset and adds to concerns surrounding Biohaven’s development execution. Analysts and coverage noted that a competing epilepsy drugmaker could benefit if BHV-7000’s progress is delayed. Barron’s article
• Negative Sentiment: Market reports characterized the FDA action as a significant blow, with Biohaven shares falling sharply as investors reassessed the timing, probability of success and potential commercial value of the epilepsy program. MarketScreener article
• Neutral Sentiment: HC Wainwright reaffirmed its “Neutral” rating but reduced or maintained its price target at $10.00, implying roughly 21.6% downside from the cited $12.76 reference price. This signals limited near-term conviction while the regulatory issue is addressed.

Wall Street Analyst Weigh In

BHVN has been the topic of several research analyst reports. Wall Street Zen raised shares of Biohaven from a “strong sell” rating to a “sell” rating in a report on Saturday, June 27th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $30.00 target price on shares of Biohaven in a research note on Wednesday, August 26th. HC Wainwright reiterated a “neutral” rating and issued a $10.00 price target on shares of Biohaven in a report on Thursday. TD Cowen reiterated a “buy” rating on shares of Biohaven in a research note on Wednesday, August 26th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Biohaven in a report on Friday, June 26th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.69.

Biohaven Company Profile

Biohaven Ltd. is a clinical-stage biopharmaceutical company focused on developing therapies for neurological and immunological disorders. The company’s research programs use a range of approaches, including small-molecule medicines, biologics and other targeted therapies, with the goal of addressing diseases that have limited or inadequate treatment options.

Biohaven’s pipeline has included investigational treatments for conditions such as epilepsy, obsessive-compulsive disorder, neurodegenerative diseases, neuroinflammatory disorders and immune-mediated diseases.