Biohaven Ltd. $BHVN Holdings Lifted by Readystate Asset Management LP

Readystate Asset Management LP boosted its holdings in Biohaven Ltd. (NYSE:BHVN) by 14.1% during the 3rd quarter, Holdings Channel.com reports. The fund owned 377,119 shares of the company’s stock after purchasing an additional 46,587 shares during the quarter. Readystate Asset Management LP’s holdings in Biohaven were worth $5,661,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. PNC Financial Services Group Inc. grew its stake in shares of Biohaven by 113.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,383 shares of the company’s stock worth $36,000 after purchasing an additional 1,268 shares during the last quarter. PFS Partners LLC acquired a new stake in Biohaven during the third quarter valued at approximately $60,000. Elkhorn Partners Limited Partnership lifted its stake in Biohaven by 26.1% during the second quarter. Elkhorn Partners Limited Partnership now owns 5,800 shares of the company’s stock valued at $82,000 after purchasing an additional 1,200 shares during the last quarter. Virtus Investment Advisers LLC boosted its holdings in Biohaven by 47.7% during the second quarter. Virtus Investment Advisers LLC now owns 6,032 shares of the company’s stock worth $85,000 after buying an additional 1,949 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its position in Biohaven by 198.6% in the second quarter. Tower Research Capital LLC TRC now owns 8,031 shares of the company’s stock worth $113,000 after buying an additional 5,341 shares during the last quarter. 88.78% of the stock is owned by institutional investors and hedge funds.

Biohaven Stock Performance

Shares of BHVN opened at $11.47 on Wednesday. The company has a market capitalization of $1.21 billion, a PE ratio of -1.51 and a beta of 1.14. The company has a debt-to-equity ratio of 1.91, a quick ratio of 2.86 and a current ratio of 2.86. The company’s 50 day moving average price is $11.51 and its 200 day moving average price is $12.92. Biohaven Ltd. has a 52 week low of $7.48 and a 52 week high of $42.33.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Citigroup reiterated a “buy” rating on shares of Biohaven in a research report on Friday, December 26th. BTIG Research reissued a “buy” rating and issued a $16.00 price target on shares of Biohaven in a research note on Tuesday, November 18th. Bank of America lowered shares of Biohaven from a “buy” rating to a “neutral” rating and set a $10.00 price objective for the company. in a research note on Wednesday, November 5th. JPMorgan Chase & Co. dropped their target price on shares of Biohaven from $47.00 to $15.00 and set an “overweight” rating on the stock in a research report on Thursday, November 20th. Finally, Morgan Stanley cut their price target on shares of Biohaven from $26.00 to $21.00 and set an “overweight” rating on the stock in a report on Tuesday, January 6th. Three research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.40.

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.