The Manufacturers Life Insurance Company Acquires New Holdings in Biohaven Ltd. $BHVN

The Manufacturers Life Insurance Company bought a new stake in shares of Biohaven Ltd. (NYSE:BHVN) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 159,067 shares of the company’s stock, valued at approximately $2,367,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Janus Henderson Group PLC lifted its holdings in shares of Biohaven by 1,145.9% in the first quarter. Janus Henderson Group PLC now owns 17,534,612 shares of the company’s stock valued at $148,214,000 after purchasing an additional 16,127,247 shares in the last quarter. BlackRock Inc. acquired a new position in shares of Biohaven during the 2nd quarter worth approximately $196,574,000. Suvretta Capital Management LLC lifted its stake in Biohaven by 83.0% in the 4th quarter. Suvretta Capital Management LLC now owns 10,286,937 shares of the company’s stock valued at $116,140,000 after buying an additional 4,666,666 shares in the last quarter. Infinitum Asset Management LLC grew its holdings in Biohaven by 267.6% during the 4th quarter. Infinitum Asset Management LLC now owns 6,250,000 shares of the company’s stock valued at $70,562,000 after buying an additional 4,550,000 shares during the last quarter. Finally, Stifel Financial Corp grew its holdings in Biohaven by 50.3% during the 4th quarter. Stifel Financial Corp now owns 9,939,856 shares of the company’s stock valued at $112,221,000 after buying an additional 3,328,506 shares during the last quarter. Institutional investors and hedge funds own 88.78% of the company’s stock.

Wall Street Analyst Weigh In

BHVN has been the subject of a number of analyst reports. Canaccord Genuity Group set a $21.00 price target on Biohaven in a report on Friday, August 28th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $30.00 price objective on shares of Biohaven in a research note on Wednesday, August 26th. Wall Street Zen upgraded Biohaven from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 27th. Needham & Company LLC set a $11.00 target price on shares of Biohaven in a report on Monday, June 29th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Biohaven in a research note on Wednesday, August 26th. Two 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 assigned a Sell rating to the company. According to data from MarketBeat.com, Biohaven currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.94.

Biohaven Price Performance

BHVN opened at $15.78 on Thursday. The company’s 50 day simple moving average is $14.85 and its 200 day simple moving average is $11.96. 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 1 year low of $7.48 and a 1 year high of $18.57. The stock has a market capitalization of $2.38 billion, a PE ratio of -3.40 and a beta of 1.28.

Biohaven (NYSE:BHVN) last issued its quarterly earnings results on Monday, August 10th. The company reported ($0.91) EPS for the quarter, missing the consensus estimate of ($0.76) by ($0.15). As a group, sell-side analysts expect that Biohaven Ltd. will post -3.3 EPS for the current year.

Biohaven 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.