Simplify Asset Management Inc. Decreases Stock Holdings in Biohaven Ltd. $BHVN

Simplify Asset Management Inc. decreased its holdings in shares of Biohaven Ltd. (NYSE:BHVN) by 6.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 898,400 shares of the company’s stock after selling 59,802 shares during the quarter. Biohaven comprises approximately 0.1% of Simplify Asset Management Inc.’s holdings, making the stock its 25th biggest holding. Simplify Asset Management Inc. owned approximately 0.60% of Biohaven worth $7,600,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in BHVN. 4WEALTH Advisors Inc. purchased a new position in Biohaven in the 1st quarter valued at about $116,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of Biohaven during the first quarter valued at about $1,369,000. Inspire Investing LLC increased its position in shares of Biohaven by 50.5% during the first quarter. Inspire Investing LLC now owns 61,915 shares of the company’s stock worth $524,000 after acquiring an additional 20,765 shares during the last quarter. ARS Investment Partners LLC increased its position in shares of Biohaven by 11.2% during the first quarter. ARS Investment Partners LLC now owns 1,378,828 shares of the company’s stock worth $11,665,000 after acquiring an additional 139,228 shares during the last quarter. Finally, Hsbc Holdings PLC acquired a new position in shares of Biohaven in the fourth quarter worth about $282,000. 88.78% of the stock is owned by hedge funds and other institutional investors.

Biohaven Stock Down 0.2%

BHVN opened at $15.93 on Friday. The stock’s 50 day moving average price is $11.38 and its 200 day moving average price is $10.99. The company has a debt-to-equity ratio of 1.87, a current ratio of 7.41 and a quick ratio of 7.41. The stock has a market cap of $2.40 billion, a P/E ratio of -2.81 and a beta of 1.28. Biohaven Ltd. has a 12 month low of $7.48 and a 12 month high of $18.57.

Biohaven (NYSE:BHVN) last released its earnings results on Monday, May 4th. The company reported ($0.88) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.86) by ($0.02). As a group, research analysts predict that Biohaven Ltd. will post -3.1 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently commented on BHVN. Needham & Company LLC set a $11.00 target price on Biohaven in a research note on Monday. Royal Bank Of Canada dropped their price target on shares of Biohaven from $23.00 to $22.00 and set an “outperform” rating for the company in a research note on Tuesday, May 5th. Citigroup upped their price target on shares of Biohaven from $14.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, April 2nd. HC Wainwright reiterated a “neutral” rating and set a $10.00 price objective on shares of Biohaven in a research note on Tuesday, May 26th. Finally, Raymond James Financial reiterated a “strong-buy” rating on shares of Biohaven in a research note on Wednesday, May 27th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $21.62.

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.