PDT Partners LLC Acquires New Position in Biohaven Ltd. $BHVN

PDT Partners LLC purchased a new position in shares of Biohaven Ltd. (NYSE:BHVN) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 42,100 shares of the company’s stock, valued at approximately $626,000.

Several other hedge funds have also modified their holdings of BHVN. Renaissance Technologies LLC acquired a new position in Biohaven in the first quarter worth $1,362,000. The Manufacturers Life Insurance Company increased its stake in shares of Biohaven by 52.5% in the first 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 increased its position 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 acquiring an additional 16,127,247 shares during the period. Quantinno Capital Management LP increased its holdings in shares of Biohaven by 190.0% during the first 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 during the period. Finally, Defilade Capital Management L.P. bought a new stake in shares of Biohaven during the 1st quarter worth about $2,673,000. 88.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently commented on BHVN. Royal Bank Of Canada boosted their price objective on Biohaven from $22.00 to $23.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 11th. Bank of America reaffirmed an “underperform” rating and issued a $11.00 price objective (down from $12.00) on shares of Biohaven in a research note on Monday, June 29th. HC Wainwright reaffirmed a “neutral” rating on shares of Biohaven in a research note on Thursday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Biohaven in a research note on Tuesday, June 2nd. Finally, TD Cowen restated a “buy” rating on shares of Biohaven in a report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $18.94.

Biohaven Trading Down 5.1%

Shares of BHVN opened at $16.08 on Friday. The stock has a fifty day moving average price of $14.79 and a two-hundred day moving average price of $11.86. The company has a market cap of $2.43 billion, a price-to-earnings ratio of -3.47 and a beta of 1.26. The company has a debt-to-equity ratio of 21.23, a quick ratio of 4.73 and a current ratio of 4.73. Biohaven Ltd. has a 52-week low of $7.48 and a 52-week high of $18.57.

Biohaven (NYSE:BHVN) last posted its quarterly earnings results on Monday, August 10th. The company reported ($0.91) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.76) by ($0.15). Analysts predict that Biohaven Ltd. will post -3.29 EPS for the current fiscal year.

Key Stories Impacting Biohaven

Here are the key news stories impacting Biohaven this week:

• Positive Sentiment: Up to $795 million in deal value: SK Biopharmaceuticals will pay Biohaven upfront and milestone payments totaling as much as $795 million, in addition to tiered royalties ranging from the mid-teens to low twenties on U.S. net sales of opakalim. The agreement improves Biohaven’s liquidity, reduces the company’s future development costs for the program and could extend its cash runway. Biohaven and SK Biopharmaceuticals licensing agreement
• Positive Sentiment: External validation of the epilepsy program: The global partnership gives SK Biopharmaceuticals commercialization rights while allowing Biohaven to retain royalty economics. Opakalim is in Phase 2/3 development for focal epilepsy, providing a significant potential value catalyst if clinical results are successful. Reuters Biohaven SK Biopharmaceuticals deal
• Positive Sentiment: Favorable legal ruling: Biohaven also received a favorable ruling in a trade-secret misappropriation lawsuit, improving its legal position and potentially supporting recovery related to the dispute. Biohaven favorable trade-secret ruling
• Neutral Sentiment: Upcoming clinical catalyst: Investors are awaiting topline results from the RISE3 trial of opakalim, expected in the second half of 2026, as well as a separate obesity-program readout. These events could determine whether the partnership’s milestone payments and future royalty opportunity are realized. Biohaven epilepsy licensing deal and obesity trial readout

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.