Candriam S.C.A. Acquires 34,664 Shares of Biohaven Ltd. $BHVN

Candriam S.C.A. raised its holdings in Biohaven Ltd. (NYSE:BHVN) by 36.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 129,243 shares of the company’s stock after purchasing an additional 34,664 shares during the quarter. Candriam S.C.A. owned 0.13% of Biohaven worth $1,824,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. SVB Wealth LLC bought a new position in Biohaven during the first quarter valued at about $25,000. PNC Financial Services Group Inc. boosted its stake in Biohaven by 53.7% in the first quarter. PNC Financial Services Group Inc. now owns 1,783 shares of the company’s stock valued at $43,000 after acquiring an additional 623 shares during the last quarter. IFP Advisors Inc boosted its stake in Biohaven by 84,800.0% in the first quarter. IFP Advisors Inc now owns 2,547 shares of the company’s stock valued at $61,000 after acquiring an additional 2,544 shares during the last quarter. US Bancorp DE grew its position in shares of Biohaven by 62.8% during the 1st quarter. US Bancorp DE now owns 4,837 shares of the company’s stock valued at $116,000 after acquiring an additional 1,866 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Biohaven during the 2nd quarter worth approximately $244,000. 88.78% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on BHVN shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Biohaven in a research note on Wednesday, October 8th. TD Cowen dropped their price target on Biohaven from $50.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, November 5th. Citigroup decreased their price objective on Biohaven from $28.00 to $14.00 and set a “buy” rating for the company in a report on Thursday. Leerink Partners lowered their price objective on Biohaven from $60.00 to $50.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 12th. Finally, William Blair reaffirmed a “market perform” rating on shares of Biohaven in a report on Tuesday, November 11th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Biohaven presently has a consensus rating of “Moderate Buy” and an average target price of $33.21.

Biohaven Stock Performance

Shares of BHVN opened at $8.29 on Monday. The stock’s 50-day simple moving average is $14.36 and its 200 day simple moving average is $15.13. The stock has a market capitalization of $877.05 million, a price-to-earnings ratio of -1.09 and a beta of 1.10. The company has a debt-to-equity ratio of 1.91, a quick ratio of 2.86 and a current ratio of 2.86. Biohaven Ltd. has a 52-week low of $7.48 and a 52-week high of $49.56.

Biohaven (NYSE:BHVN) last posted its earnings results on Monday, November 10th. The company reported ($1.64) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.91) by $0.27. Research analysts forecast that Biohaven Ltd. will post -8.9 EPS for the current fiscal year.

Biohaven Profile

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.