Emerald Mutual Fund Advisers Trust Has $2.44 Million Stock Holdings in Biohaven Ltd. $BHVN

Emerald Mutual Fund Advisers Trust decreased its stake in Biohaven Ltd. (NYSE:BHVN) by 27.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 172,999 shares of the company’s stock after selling 65,362 shares during the quarter. Emerald Mutual Fund Advisers Trust owned 0.17% of Biohaven worth $2,441,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in BHVN. Millennium Management LLC lifted its stake in Biohaven by 1,172.9% in the first quarter. Millennium Management LLC now owns 901,258 shares of the company’s stock valued at $21,666,000 after buying an additional 830,457 shares during the period. T. Rowe Price Investment Management Inc. acquired a new position in Biohaven in the first quarter valued at about $15,481,000. Fiera Capital Corp acquired a new position in Biohaven in the first quarter valued at about $13,983,000. Y Intercept Hong Kong Ltd lifted its stake in Biohaven by 838.2% in the second quarter. Y Intercept Hong Kong Ltd now owns 251,882 shares of the company’s stock valued at $3,554,000 after buying an additional 225,036 shares during the period. Finally, Infinitum Asset Management LLC lifted its stake in Biohaven by 172.7% in the first quarter. Infinitum Asset Management LLC now owns 300,000 shares of the company’s stock valued at $7,212,000 after buying an additional 190,000 shares during the period. Institutional investors and hedge funds own 88.78% of the company’s stock.

Biohaven Stock Up 5.1%

NYSE:BHVN opened at $18.08 on Thursday. The company has a debt-to-equity ratio of 1.91, a quick ratio of 3.82 and a current ratio of 3.82. The company has a market cap of $1.91 billion, a PE ratio of -2.36 and a beta of 1.03. Biohaven Ltd. has a 52-week low of $12.79 and a 52-week high of $54.98. The stock has a 50-day simple moving average of $15.51 and a 200 day simple moving average of $16.00.

Biohaven (NYSE:BHVN) last posted its quarterly earnings data on Monday, August 11th. The company reported ($1.94) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($1.94). On average, sell-side analysts expect that Biohaven Ltd. will post -8.9 EPS for the current fiscal year.

Wall Street Analyst Weigh In

BHVN has been the topic of several analyst reports. Leerink Partners cut their target price on Biohaven from $60.00 to $50.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 12th. Raymond James Financial raised Biohaven from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, September 3rd. Weiss Ratings restated a “sell (e+)” rating on shares of Biohaven in a report on Wednesday, October 8th. BTIG Research increased their price target on Biohaven from $59.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, August 19th. Finally, Citigroup began coverage on Biohaven in a report on Wednesday, September 17th. They issued a “buy” rating and a $28.00 price target for the company. Three analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $48.85.

About Biohaven

Biohaven Ltd., together with its subsidiaries, focuses on discovering, developing, and commercializing therapies for immunology, neuroscience, and oncology worldwide. The company's pipeline products include Troriluzole, which is in Phase 3 clinical trial for the treatment of neurological and neuropsychiatric illnesses; BHV-5500 that blocks glutamate signaling mediated by post-synaptic NMDA receptors; Taldefgrobep Alfa, which is in Phase 3 clinical trial for the treatment of spinal muscular atrophy and obesity; BHV-7000, a candidate in Phase 2/3 clinical trials for the treatment of focal and generalized epilepsy, bipolar disorder, and major depressive disorder; BHV-2100 that is in Phase 1 clinical trials for the treatment of migraines and neuropathic pain; and BHV-8000, a product candidate in Phase 1 clinical trials for the treatment of early Alzheimer's and Parkinson's disease, sclerosis, and amyloid-related imaging abnormalities.