TD Asset Management Inc Cuts Stake in Biohaven Ltd. $BHVN

TD Asset Management Inc lowered its stake in shares of Biohaven Ltd. (NYSE:BHVN) by 53.3% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 136,028 shares of the company’s stock after selling 155,000 shares during the quarter. TD Asset Management Inc owned approximately 0.13% of Biohaven worth $2,042,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BHVN. AQR Capital Management LLC increased its stake in shares of Biohaven by 49.4% during the 1st quarter. AQR Capital Management LLC now owns 114,849 shares of the company’s stock worth $2,761,000 after purchasing an additional 37,981 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Biohaven by 32.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 71,833 shares of the company’s stock valued at $1,747,000 after buying an additional 17,562 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Biohaven by 7.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 589,615 shares of the company’s stock valued at $14,174,000 after buying an additional 41,040 shares during the last quarter. Intech Investment Management LLC grew its stake in shares of Biohaven by 80.3% during the 1st quarter. Intech Investment Management LLC now owns 61,598 shares of the company’s stock worth $1,481,000 after acquiring an additional 27,433 shares during the period. Finally, Simplify Asset Management Inc. purchased a new stake in Biohaven in the 2nd quarter worth about $1,360,000. 88.78% of the stock is currently owned by hedge funds and other institutional investors.

Biohaven Price Performance

Shares of NYSE:BHVN opened at $10.63 on Thursday. Biohaven Ltd. has a one year low of $7.48 and a one year high of $31.87. The company’s fifty day moving average price is $11.62 and its 200-day moving average price is $12.68. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of -1.53 and a beta of 1.15. The company has a debt-to-equity ratio of 4.59, a current ratio of 3.18 and a quick ratio of 2.86.

Biohaven (NYSE:BHVN) last announced its quarterly earnings data on Monday, March 2nd. The company reported ($1.21) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.22) by $0.01. On average, equities research analysts anticipate that Biohaven Ltd. will post -8.9 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. UBS Group lowered shares of Biohaven from a “buy” rating to a “neutral” rating and cut their target price for the stock from $26.00 to $11.00 in a research report on Wednesday, November 26th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Biohaven in a report on Monday, December 29th. HC Wainwright lowered their target price on shares of Biohaven from $11.00 to $10.00 and set a “neutral” rating on the stock in a report on Wednesday. The Goldman Sachs Group raised Biohaven to a “strong-buy” rating in a report on Friday, February 6th. Finally, JPMorgan Chase & Co. cut their target price on Biohaven from $47.00 to $15.00 and set an “overweight” rating for the company in a research note on Thursday, November 20th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $23.93.

About Biohaven

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.