77,915 Shares in Biohaven Ltd. $BHVN Purchased by Opaleye Management Inc.

Opaleye Management Inc. purchased a new stake in Biohaven Ltd. (NYSE:BHVN) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 77,915 shares of the company’s stock, valued at approximately $1,159,000. Opaleye Management Inc. owned approximately 0.05% of Biohaven as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in BHVN. PNC Financial Services Group Inc. increased its holdings in 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 purchasing an additional 1,268 shares in the last quarter. IFP Advisors Inc lifted its holdings in shares of Biohaven by 55.4% in the fourth 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 in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Biohaven by 178.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 4,031 shares of the company’s stock valued at $46,000 after buying an additional 2,583 shares during the last quarter. Arax Advisory Partners boosted its position in shares of Biohaven by 943.3% during the fourth quarter. Arax Advisory Partners now owns 4,914 shares of the company’s stock valued at $55,000 after buying an additional 4,443 shares during the last quarter. Finally, BlueCrest Capital Management Ltd bought a new stake in Biohaven during the second quarter worth $60,000. Institutional investors and hedge funds own 88.78% of the company’s stock.

Biohaven News Summary

Here are the key news stories impacting Biohaven this week:

• Positive Sentiment: No material positive catalyst was reported in the articles. The hold is partial rather than a complete termination of the program, leaving open the possibility that Biohaven can address regulators’ concerns and resume enrollment. Biohaven faces partial FDA hold on BHV-7000 program
• Neutral Sentiment: Biohaven completed an End-of-Phase 2 meeting with the FDA in January 2024, but the latest regulatory action indicates that additional safety evaluation is now required before pivotal-trial enrollment can proceed. Biohaven takes another hit as FDA pauses enrollment in pivotal trials for embattled epilepsy drug
• Negative Sentiment: The FDA’s partial clinical hold pauses new enrollment in pivotal BHV-7000 trials after rodent findings. The delay raises the risk of slower development, higher costs and possible limitations for Biohaven’s lead near-term growth opportunity. US FDA pauses new enrollment in Biohaven’s epilepsy drug trials
• Negative Sentiment: The regulatory setback added to existing investor concerns surrounding the epilepsy program, while at least one competing drugmaker could benefit if BHV-7000’s development is delayed. Biohaven Stock Is Sinking. Epilepsy Drug Trial Roadblock Is Only the Latest Blow
• Negative Sentiment: HC Wainwright reaffirmed its neutral rating and set a $10.00 price target, implying further downside from the stock’s referenced trading level. The target reflects diminished confidence following the FDA action. HC Wainwright rating update

Biohaven Trading Down 14.8%

Shares of Biohaven stock opened at $12.78 on Friday. The stock has a market capitalization of $1.93 billion, a P/E ratio of -2.75 and a beta of 1.28. Biohaven Ltd. has a 52-week low of $7.48 and a 52-week high of $18.57. The company has a debt-to-equity ratio of 21.23, a quick ratio of 4.73 and a current ratio of 4.73. The stock’s 50-day simple moving average is $14.80 and its 200 day simple moving average is $12.11.

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

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Raymond James Financial restated a “strong-buy” rating and set a $30.00 price objective on shares of Biohaven in a research note on Wednesday, August 26th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Biohaven in a report on Friday, June 26th. HC Wainwright reissued a “neutral” rating and set a $10.00 price target on shares of Biohaven in a research report on Thursday. Needham & Company LLC set a $11.00 price target on shares of Biohaven in a report on Monday, June 29th. Finally, Wall Street Zen raised shares of Biohaven from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 27th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Biohaven has a consensus rating of “Moderate Buy” and a consensus price target of $18.69.

Biohaven Company 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.