BNP Paribas Financial Markets Grows Position in Biohaven Ltd. $BHVN

BNP Paribas Financial Markets raised its holdings in Biohaven Ltd. (NYSE:BHVN) by 148.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,093,816 shares of the company’s stock after acquiring an additional 1,250,252 shares during the period. BNP Paribas Financial Markets owned approximately 1.98% of Biohaven worth $23,639,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of BHVN. PNC Financial Services Group Inc. raised its holdings in shares of Biohaven by 113.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,383 shares of the company’s stock valued at $36,000 after buying an additional 1,268 shares in the last quarter. IFP Advisors Inc increased its stake in Biohaven by 55.4% in the 4th quarter. IFP Advisors Inc now owns 4,069 shares of the company’s stock worth $46,000 after purchasing an additional 1,450 shares during the period. EverSource Wealth Advisors LLC increased its stake in Biohaven by 178.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 4,031 shares of the company’s stock worth $46,000 after purchasing an additional 2,583 shares during the period. Leonteq Securities AG purchased a new position in Biohaven in the 4th quarter worth approximately $78,000. Finally, Focus Partners Wealth purchased a new position in Biohaven in the 3rd quarter worth approximately $87,000. 88.78% of the stock is owned by hedge funds and other institutional investors.

Biohaven Stock Performance

NYSE:BHVN opened at $10.84 on Friday. The stock has a 50-day simple moving average of $9.74 and a two-hundred day simple moving average of $10.43. Biohaven Ltd. has a 52-week low of $7.48 and a 52-week high of $18.57. The company has a debt-to-equity ratio of 1.87, a quick ratio of 7.41 and a current ratio of 7.41. The firm has a market capitalization of $1.63 billion, a PE ratio of -1.91 and a beta of 1.35.

Biohaven (NYSE:BHVN) last released its quarterly earnings data on Monday, May 4th. The company reported ($0.88) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.86) by ($0.02). Analysts forecast that Biohaven Ltd. will post -3.03 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have commented on BHVN. Citigroup lifted their price target on Biohaven from $14.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday, April 2nd. Weiss Ratings reiterated a “sell (e+)” rating on shares of Biohaven in a research report on Tuesday. Leerink Partners reiterated an “outperform” rating and issued a $15.00 price objective on shares of Biohaven in a research report on Tuesday, March 3rd. TD Cowen lifted their price objective on Biohaven from $15.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday, March 11th. Finally, Wall Street Zen lowered Biohaven from a “sell” rating to a “strong sell” rating in a research report on Sunday, April 26th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $22.27.

Biohaven Company 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.