JPMorgan Chase & Co. Cuts Holdings in Biohaven Ltd. $BHVN

JPMorgan Chase & Co. decreased its stake in Biohaven Ltd. (NYSE:BHVN) by 48.1% during the third quarter, Holdings Channel.com reports. The institutional investor owned 1,335,455 shares of the company’s stock after selling 1,236,587 shares during the quarter. JPMorgan Chase & Co.’s holdings in Biohaven were worth $20,045,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in BHVN. PNC Financial Services Group Inc. lifted its holdings in shares of Biohaven by 113.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,383 shares of the company’s stock worth $36,000 after acquiring an additional 1,268 shares during the last quarter. PFS Partners LLC bought a new position in Biohaven in the third quarter valued at $60,000. Elkhorn Partners Limited Partnership increased its stake in Biohaven by 26.1% in the second quarter. Elkhorn Partners Limited Partnership now owns 5,800 shares of the company’s stock valued at $82,000 after acquiring an additional 1,200 shares during the last quarter. Virtus Investment Advisers LLC raised its position in Biohaven by 47.7% during the second quarter. Virtus Investment Advisers LLC now owns 6,032 shares of the company’s stock valued at $85,000 after purchasing an additional 1,949 shares in the last quarter. Finally, Focus Partners Wealth bought a new stake in Biohaven during the third quarter worth about $87,000. Hedge funds and other institutional investors own 88.78% of the company’s stock.

Biohaven Trading Down 4.1%

Shares of BHVN stock opened at $8.38 on Wednesday. The business has a 50-day moving average of $11.24 and a 200 day moving average of $12.07. The company has a debt-to-equity ratio of 4.59, a current ratio of 3.18 and a quick ratio of 3.18. Biohaven Ltd. has a 1-year low of $7.48 and a 1-year high of $31.18. The stock has a market capitalization of $1.26 billion, a PE ratio of -1.20 and a beta of 1.15.

Biohaven (NYSE:BHVN) last announced its quarterly earnings results on Monday, March 2nd. The company reported ($1.21) EPS for the quarter, topping analysts’ consensus estimates of ($1.22) by $0.01. As a group, sell-side analysts anticipate that Biohaven Ltd. will post -8.9 earnings per share for the current year.

Analyst Upgrades and Downgrades

BHVN has been the subject of a number of research reports. Raymond James Financial reiterated a “strong-buy” rating on shares of Biohaven in a report on Monday, March 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Biohaven in a research report on Monday, December 29th. The Goldman Sachs Group upgraded shares of Biohaven to a “strong-buy” rating in a research report on Friday, February 6th. TD Cowen lifted their price target on shares of Biohaven from $15.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday, March 11th. Finally, Leerink Partners restated an “outperform” rating and issued a $15.00 price objective on shares of Biohaven in a report on Tuesday, March 3rd. Three investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Biohaven presently has an average rating of “Moderate Buy” and a consensus price target of $22.43.

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.