Defilade Capital Management L.P. Makes New $2.67 Million Investment in Biohaven Ltd. $BHVN

Defilade Capital Management L.P. acquired a new stake in Biohaven Ltd. (NYSE:BHVN) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 315,944 shares of the company’s stock, valued at approximately $2,673,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Aberdeen Group plc purchased a new stake in Biohaven during the 4th quarter valued at approximately $7,829,000. SG Americas Securities LLC lifted its position in Biohaven by 291.8% during the 4th quarter. SG Americas Securities LLC now owns 105,518 shares of the company’s stock worth $1,191,000 after acquiring an additional 78,585 shares during the period. ARS Investment Partners LLC grew its stake in shares of Biohaven by 12.4% in the 4th quarter. ARS Investment Partners LLC now owns 1,239,600 shares of the company’s stock valued at $13,995,000 after purchasing an additional 137,051 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of Biohaven in the 1st quarter valued at approximately $1,369,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al increased its holdings in shares of Biohaven by 484.7% in the fourth quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 133,900 shares of the company’s stock valued at $1,512,000 after purchasing an additional 111,000 shares during the period. 88.78% of the stock is owned by hedge funds and other institutional investors.

Biohaven Trading Down 0.0%

NYSE:BHVN opened at $13.49 on Monday. Biohaven Ltd. has a 1 year low of $7.48 and a 1 year 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 stock has a fifty day moving average price of $13.60 and a two-hundred day moving average price of $11.56. The stock has a market capitalization of $2.03 billion, a price-to-earnings ratio of -2.38 and a beta of 1.28.

Biohaven (NYSE:BHVN) last issued its earnings results on Monday, May 4th. The company reported ($0.88) EPS for the quarter, missing the consensus estimate of ($0.86) by ($0.02). As a group, sell-side analysts anticipate that Biohaven Ltd. will post -3.1 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

BHVN has been the subject of several analyst reports. Bank of America restated an “underperform” rating and set a $11.00 price target (down from $12.00) on shares of Biohaven in a research note on Monday, June 29th. Wall Street Zen upgraded shares of Biohaven from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 27th. Raymond James Financial reissued a “strong-buy” rating on shares of Biohaven in a research note on Wednesday, May 27th. Royal Bank Of Canada cut their price objective on shares of Biohaven from $23.00 to $22.00 and set an “outperform” rating for the company in a research report on Tuesday, May 5th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Biohaven in a research note on Tuesday, June 2nd. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $21.62.

Biohaven 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.