VIRGINIA RETIREMENT SYSTEMS ET Al Takes $1.31 Million Position in Biohaven Ltd. $BHVN

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Biohaven Ltd. (NYSE:BHVN) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 88,400 shares of the company’s stock, valued at approximately $1,315,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned 0.06% of Biohaven at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. PNC Financial Services Group Inc. lifted its holdings in Biohaven by 113.7% in the third quarter. PNC Financial Services Group Inc. now owns 2,383 shares of the company’s stock valued at $36,000 after acquiring an additional 1,268 shares during the period. IFP Advisors Inc increased its position in shares of Biohaven by 55.4% during the 4th quarter. IFP Advisors Inc now owns 4,069 shares of the company’s stock valued at $46,000 after purchasing an additional 1,450 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Biohaven by 178.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 4,031 shares of the company’s stock valued at $46,000 after purchasing an additional 2,583 shares during the last quarter. Arax Advisory Partners boosted its holdings in shares of Biohaven by 943.3% in the fourth quarter. Arax Advisory Partners now owns 4,914 shares of the company’s stock worth $55,000 after buying an additional 4,443 shares during the last quarter. Finally, Essential Partners LLC boosted its holdings in shares of Biohaven by 31.7% in the first quarter. Essential Partners LLC now owns 9,020 shares of the company’s stock worth $76,000 after buying an additional 2,169 shares during the last quarter. Hedge funds and other institutional investors own 88.78% of the company’s stock.

Biohaven Trading Down 0.3%

Biohaven stock opened at $12.76 on Friday. The firm has a 50 day moving average of $14.73 and a 200 day moving average of $12.11. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of -2.75 and a beta of 1.28. Biohaven Ltd. has a 12-month low of $7.48 and a 12-month high of $18.57. The company has a current ratio of 4.73, a quick ratio of 4.73 and a debt-to-equity ratio of 21.23.

Biohaven (NYSE:BHVN) last released its earnings results on Monday, August 10th. The company reported ($0.91) EPS for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.15). As a group, research analysts predict that Biohaven Ltd. will post -3.33 earnings per share for the current year.

Trending Headlines about Biohaven

Here are the key news stories impacting Biohaven this week:

• Negative Sentiment: The FDA paused new patient enrollment in pivotal BHV-7000 trials following findings from rodent studies. The hold raises safety concerns, could delay the development timeline and increases the risk of additional regulatory requirements or changes to the program. Reuters article
• Negative Sentiment: The regulatory setback affects a key late-stage pipeline asset and adds to concerns surrounding Biohaven’s development execution. Analysts and coverage noted that a competing epilepsy drugmaker could benefit if BHV-7000’s progress is delayed. Barron’s article
• Negative Sentiment: Market reports characterized the FDA action as a significant blow, with Biohaven shares falling sharply as investors reassessed the timing, probability of success and potential commercial value of the epilepsy program. MarketScreener article
• Neutral Sentiment: HC Wainwright reaffirmed its “Neutral” rating but reduced or maintained its price target at $10.00, implying roughly 21.6% downside from the cited $12.76 reference price. This signals limited near-term conviction while the regulatory issue is addressed.

Analyst Upgrades and Downgrades

BHVN has been the subject of a number of research reports. Wall Street Zen raised shares of Biohaven from a “strong sell” rating to a “sell” rating in a report on Saturday, June 27th. Royal Bank Of Canada cut shares of Biohaven from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $23.00 to $19.00 in a research note on Tuesday. Morgan Stanley boosted their price objective on shares of Biohaven from $18.00 to $19.00 and gave the company an “overweight” rating in a research report on Wednesday, August 12th. Weiss Ratings restated a “sell (e+)” rating on shares of Biohaven in a research note on Friday, August 28th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and issued a $30.00 target price on shares of Biohaven in a report on Wednesday, August 26th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Biohaven presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.69.

Biohaven Profile

Biohaven Ltd. is a clinical-stage biopharmaceutical company focused on developing therapies for neurological and immunological disorders. The company’s research programs use a range of approaches, including small-molecule medicines, biologics and other targeted therapies, with the goal of addressing diseases that have limited or inadequate treatment options.

Biohaven’s pipeline has included investigational treatments for conditions such as epilepsy, obsessive-compulsive disorder, neurodegenerative diseases, neuroinflammatory disorders and immune-mediated diseases.