Simplify Asset Management Inc. Has $7.60 Million Position in Biohaven Ltd. $BHVN

Simplify Asset Management Inc. reduced its stake in Biohaven Ltd. (NYSE:BHVN) by 6.2% during the 1st quarter, HoldingsChannel reports. The firm owned 898,400 shares of the company’s stock after selling 59,802 shares during the quarter. Biohaven makes up approximately 0.1% of Simplify Asset Management Inc.’s holdings, making the stock its 25th biggest holding. Simplify Asset Management Inc.’s holdings in Biohaven were worth $7,600,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Sigma Planning Corp grew its stake in Biohaven by 9.2% during the fourth quarter. Sigma Planning Corp now owns 13,613 shares of the company’s stock worth $154,000 after buying an additional 1,146 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Biohaven by 113.7% in the third quarter. PNC Financial Services Group Inc. now owns 2,383 shares of the company’s stock valued at $36,000 after acquiring an additional 1,268 shares during the last quarter. IFP Advisors Inc boosted its holdings in shares of Biohaven by 55.4% in the 4th quarter. IFP Advisors Inc now owns 4,069 shares of the company’s stock worth $46,000 after acquiring an additional 1,450 shares in the last quarter. Rafferty Asset Management LLC boosted its holdings in shares of Biohaven by 1.3% in the 2nd quarter. Rafferty Asset Management LLC now owns 121,189 shares of the company’s stock worth $1,710,000 after acquiring an additional 1,503 shares in the last quarter. Finally, ProShare Advisors LLC grew its position in Biohaven by 10.8% during the 4th quarter. ProShare Advisors LLC now owns 17,138 shares of the company’s stock worth $193,000 after acquiring an additional 1,669 shares during the last quarter. 88.78% of the stock is owned by institutional investors and hedge funds.

Biohaven Price Performance

NYSE:BHVN opened at $15.93 on Friday. The stock has a market capitalization of $2.40 billion, a PE ratio of -2.81 and a beta of 1.28. Biohaven Ltd. has a 1-year low of $7.48 and a 1-year high of $18.57. The firm has a fifty day simple moving average of $11.38 and a 200 day simple moving average of $10.99. The company has a current ratio of 7.41, a quick ratio of 7.41 and a debt-to-equity ratio of 1.87.

Biohaven (NYSE:BHVN) last released its quarterly earnings data on Monday, May 4th. The company reported ($0.88) EPS for the quarter, missing the consensus estimate of ($0.86) by ($0.02). On average, research analysts expect that Biohaven Ltd. will post -3.1 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on BHVN. Morgan Stanley dropped their price objective on shares of Biohaven from $21.00 to $18.00 and set an “overweight” rating for the company in a research report on Wednesday, May 13th. Bank of America reiterated an “underperform” rating and issued a $11.00 price objective (down from $12.00) on shares of Biohaven in a research report on Monday, June 29th. Citigroup boosted their target price on Biohaven from $14.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, April 2nd. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Biohaven in a research note on Wednesday, May 27th. Finally, Wall Street Zen upgraded Biohaven from a “strong sell” rating to a “sell” rating in a report on Saturday, June 27th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average 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.