Opaleye Management Inc. acquired a new position in shares of Biohaven Ltd. (NYSE:BHVN – Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 77,915 shares of the company’s stock, valued at approximately $1,159,000.
Several other large investors have also added to or reduced their stakes in BHVN. Renaissance Technologies LLC purchased a new position in Biohaven during the first quarter valued at approximately $1,362,000. The Manufacturers Life Insurance Company boosted its holdings in Biohaven by 52.5% in the 1st quarter. The Manufacturers Life Insurance Company now owns 202,975 shares of the company’s stock valued at $1,717,000 after purchasing an additional 69,894 shares during the period. Janus Henderson Group PLC boosted its holdings in Biohaven by 1,145.9% in the 1st quarter. Janus Henderson Group PLC now owns 17,534,612 shares of the company’s stock valued at $148,214,000 after purchasing an additional 16,127,247 shares during the period. Quantinno Capital Management LP grew its position in shares of Biohaven by 190.0% during the 1st quarter. Quantinno Capital Management LP now owns 121,554 shares of the company’s stock valued at $1,028,000 after purchasing an additional 79,640 shares in the last quarter. Finally, NewEdge Wealth LLC bought a new position in shares of Biohaven in the second quarter worth $3,656,000. Institutional investors own 88.78% of the company’s stock.
Biohaven Stock Down 14.8%
Shares of BHVN opened at $12.78 on Friday. The firm has a market cap of $1.93 billion, a P/E ratio of -2.75 and a beta of 1.28. The stock has a 50 day simple moving average of $14.80 and a two-hundred day simple moving average of $12.11. The company has a debt-to-equity ratio of 21.23, a current ratio of 4.73 and a quick ratio of 4.73. Biohaven Ltd. has a 1 year low of $7.48 and a 1 year high of $18.57.
Analyst Upgrades and Downgrades
Several equities analysts recently commented on the company. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Biohaven in a research report on Friday, June 26th. Bank of America restated an “underperform” rating and issued a $11.00 price objective (down from $12.00) on shares of Biohaven in a research report on Monday, June 29th. HC Wainwright reaffirmed a “neutral” rating and issued a $10.00 target price on shares of Biohaven in a research note on Thursday. Canaccord Genuity Group set a $21.00 target price on shares of Biohaven in a research report on Friday, August 28th. Finally, Needham & Company LLC set a $11.00 price target on shares of Biohaven in a research note on Monday, June 29th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Biohaven currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.69.
Read Our Latest Research Report on Biohaven
More Biohaven News
Here are the key news stories impacting Biohaven this week:
- Positive Sentiment: No material positive catalyst was reported in the articles. The hold is partial rather than a complete termination of the program, leaving open the possibility that Biohaven can address regulators’ concerns and resume enrollment. Biohaven faces partial FDA hold on BHV-7000 program
- Neutral Sentiment: Biohaven completed an End-of-Phase 2 meeting with the FDA in January 2024, but the latest regulatory action indicates that additional safety evaluation is now required before pivotal-trial enrollment can proceed. Biohaven takes another hit as FDA pauses enrollment in pivotal trials for embattled epilepsy drug
- Negative Sentiment: The FDA’s partial clinical hold pauses new enrollment in pivotal BHV-7000 trials after rodent findings. The delay raises the risk of slower development, higher costs and possible limitations for Biohaven’s lead near-term growth opportunity. US FDA pauses new enrollment in Biohaven’s epilepsy drug trials
- Negative Sentiment: The regulatory setback added to existing investor concerns surrounding the epilepsy program, while at least one competing drugmaker could benefit if BHV-7000’s development is delayed. Biohaven Stock Is Sinking. Epilepsy Drug Trial Roadblock Is Only the Latest Blow
- Negative Sentiment: HC Wainwright reaffirmed its neutral rating and set a $10.00 price target, implying further downside from the stock’s referenced trading level. The target reflects diminished confidence following the FDA action. HC Wainwright rating update
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.
Read More
- Five stocks we like better than Biohaven
- AeroVironment’s Record Backlog and Earnings Beat Fuel Recovery Case
- Corning Just Locked In a Massive Verizon Fiber Deal as AI Infrastructure Expands
- 3 Under-$20 Stocks Tied to the Future of U.S. Energy and Materials
- Uncle Sam’s Quantum Leap: Feds Fund a $300M Quantum Supercycle
Want to see what other hedge funds are holding BHVN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Biohaven Ltd. (NYSE:BHVN – Free Report).
Receive News & Ratings for Biohaven Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Biohaven and related companies with MarketBeat.com's FREE daily email newsletter.
