Readystate Asset Management LP Sells 263,410 Shares of Biohaven Ltd. $BHVN

Readystate Asset Management LP lowered its position in shares of Biohaven Ltd. (NYSE:BHVN) by 40.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 388,193 shares of the company’s stock after selling 263,410 shares during the quarter. Readystate Asset Management LP’s holdings in Biohaven were worth $3,284,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of BHVN. Suvretta Capital Management LLC raised its holdings in Biohaven by 83.0% in the fourth quarter. Suvretta Capital Management LLC now owns 10,286,937 shares of the company’s stock worth $116,140,000 after purchasing an additional 4,666,666 shares during the period. Stifel Financial Corp increased its position in shares of Biohaven by 50.3% in the 4th quarter. Stifel Financial Corp now owns 9,939,856 shares of the company’s stock valued at $112,221,000 after buying an additional 3,328,506 shares in the last quarter. Infinitum Asset Management LLC raised its stake in Biohaven by 267.6% during the 4th quarter. Infinitum Asset Management LLC now owns 6,250,000 shares of the company’s stock worth $70,562,000 after buying an additional 4,550,000 shares during the period. State Street Corp lifted its holdings in Biohaven by 34.2% during the fourth quarter. State Street Corp now owns 5,716,487 shares of the company’s stock worth $64,539,000 after acquiring an additional 1,458,204 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Biohaven by 52.9% during the fourth quarter. Vanguard Group Inc. now owns 4,395,946 shares of the company’s stock worth $49,630,000 after acquiring an additional 1,520,756 shares in the last quarter. Institutional investors own 88.78% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BHVN. Raymond James Financial restated a “strong-buy” rating on shares of Biohaven in a report on Wednesday, May 27th. Wall Street Zen upgraded Biohaven from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 27th. Weiss Ratings reissued a “sell (e+)” rating on shares of Biohaven in a research note on Tuesday, June 2nd. Citigroup raised their target price on shares of Biohaven from $14.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, April 2nd. Finally, Bank of America reiterated an “underperform” rating and issued a $11.00 price target (down from $12.00) on shares of Biohaven in a report on Monday, June 29th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $21.62.

Biohaven Trading Down 5.2%

NYSE:BHVN opened at $13.76 on Wednesday. Biohaven Ltd. has a twelve month low of $7.48 and a twelve month high of $18.57. The company has a quick ratio of 7.41, a current ratio of 7.41 and a debt-to-equity ratio of 1.87. The business has a 50 day moving average price of $13.34 and a two-hundred day moving average price of $11.52. The company has a market cap of $2.07 billion, a P/E ratio of -2.43 and a beta of 1.28.

Biohaven (NYSE:BHVN) last posted its quarterly earnings data on Monday, May 4th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.86) by ($0.02). As a group, analysts expect that Biohaven Ltd. will post -3.1 EPS for the current fiscal year.

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.