Biohaven Ltd. $BHVN Stake Cut by Simplify Asset Management Inc.

Simplify Asset Management Inc. lessened its holdings in Biohaven Ltd. (NYSE:BHVN) by 47.1% 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 550,693 shares of the company’s stock after selling 489,562 shares during the quarter. Simplify Asset Management Inc.’s holdings in Biohaven were worth $7,352,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Sigma Planning Corp raised its holdings in shares of Biohaven by 43.1% during the third quarter. Sigma Planning Corp now owns 19,944 shares of the company’s stock worth $266,000 after purchasing an additional 6,008 shares during the period. Sterling Capital Management LLC boosted its holdings in shares of Biohaven by 847.5% in the 3rd quarter. Sterling Capital Management LLC now owns 4,444 shares of the company’s stock valued at $59,000 after buying an additional 3,975 shares during the period. Inspire Investing LLC grew its position in shares of Biohaven by 2.4% during the 3rd quarter. Inspire Investing LLC now owns 47,089 shares of the company’s stock valued at $629,000 after buying an additional 1,113 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors grew its position in shares of Biohaven by 12.9% during the 3rd quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 17,500 shares of the company’s stock valued at $234,000 after buying an additional 2,000 shares during the last quarter. Finally, Opaleye Management Inc. bought a new stake in shares of Biohaven during the 2nd quarter valued at about $1,159,000. Institutional investors own 88.78% of the company’s stock.

Analysts Set New Price Targets

BHVN has been the topic of a number of recent research reports. TD Cowen reissued a “buy” rating on shares of Biohaven in a report on Wednesday, August 26th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Biohaven in a report on Thursday, October 8th. Robert W. Baird set a $48.00 price target on Biohaven in a research report on Thursday, October 22nd. Weiss Ratings reissued a “sell (e+)” rating on shares of Biohaven in a report on Friday, August 28th. Finally, Morgan Stanley raised their price target on Biohaven from $18.00 to $19.00 and gave the stock an “overweight” rating in a report on Wednesday, August 12th. Two investment 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.25.

Biohaven Stock Performance

Shares of BHVN opened at $15.45 on Thursday. The firm has a 50-day moving average price of $13.54 and a 200 day moving average price of $12.20. The firm has a market capitalization of $2.33 billion, a PE ratio of -3.33 and a beta of 1.35. The company has a quick ratio of 4.73, a current ratio of 4.73 and a debt-to-equity ratio of 21.23. Biohaven Ltd. has a 52-week low of $7.48 and a 52-week high of $18.57.

Biohaven (NYSE:BHVN) last released its earnings results on Monday, August 10th. The company reported ($0.91) EPS for the quarter, missing the consensus estimate of ($0.76) by ($0.15). On average, sell-side analysts anticipate that Biohaven Ltd. will post -3.33 earnings per share for the current fiscal year.

Biohaven Company Profile

Biohaven Ltd. (NYSE:BHVN) is a biopharmaceutical company focused on discovering, developing and commercializing therapies for neurological and neuropsychiatric diseases, as well as certain immunological and rare disorders. The company’s research activities include small-molecule medicines, monoclonal antibodies and other innovative therapeutic approaches.

Biohaven’s pipeline has included investigational treatments for conditions such as migraine, obsessive-compulsive disorder, spinal muscular atrophy, amyotrophic lateral sclerosis, mood disorders and autoimmune diseases.