Biohaven Ltd. $BHVN Shares Sold by Simplify Asset Management Inc.

Simplify Asset Management Inc. lessened its holdings in Biohaven Ltd. (NYSE:BHVN) by 47.1% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 550,693 shares of the company’s stock after selling 489,562 shares during the quarter. Simplify Asset Management Inc.’s holdings in Biohaven were worth $7,352,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Janus Henderson Group PLC grew its stake in 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 stake in shares of Biohaven during the 2nd quarter valued at about $196,574,000. Jupiter Topco LLC acquired a new stake in shares of Biohaven during the 2nd quarter valued at about $127,852,000. Stempoint Capital LP bought a new stake in shares of Biohaven in the 1st quarter valued at approximately $13,489,000. Finally, Bank of America Corp DE bought a new stake in shares of Biohaven in the 2nd quarter valued at approximately $21,990,000. 88.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Wall Street Zen upgraded Biohaven from a “sell” rating to a “hold” rating in a report on Saturday, October 24th. Morgan Stanley lifted their target price on shares of Biohaven from $18.00 to $19.00 and gave the company an “overweight” rating in a research note on Wednesday, August 12th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Biohaven in a research note on Friday, August 28th. TD Cowen reissued a “buy” rating on shares of Biohaven in a research report on Wednesday, August 26th. Finally, Royal Bank Of Canada increased their price target on shares of Biohaven from $19.00 to $22.00 and gave the stock a “sector perform” rating in a research note on Friday, October 23rd. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Biohaven currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.25.

Biohaven Price Performance

NYSE BHVN opened at $15.45 on Thursday. The company has a current ratio of 4.73, a quick ratio of 4.73 and a debt-to-equity ratio of 21.23. The company has a fifty day simple moving average of $13.54 and a 200 day simple moving average of $12.20. The company has a market cap of $2.33 billion, a P/E ratio of -3.33 and a beta of 1.35. Biohaven Ltd. has a 1 year low of $7.48 and a 1 year high of $18.57.

Biohaven (NYSE:BHVN) last posted its earnings results on Monday, August 10th. The company reported ($0.91) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.15). On average, sell-side analysts predict that Biohaven Ltd. will post -3.33 EPS for the current year.

About Biohaven

Biohaven Ltd. (NYSE:BHVN) is a biopharmaceutical company focused on discovering, developing and commercializing therapies for neurological and neuropsychiatric diseases, as well as certain immunological and rare disorders. The company’s research activities include small-molecule medicines, monoclonal antibodies and other innovative therapeutic approaches.

Biohaven’s pipeline has included investigational treatments for conditions such as migraine, obsessive-compulsive disorder, spinal muscular atrophy, amyotrophic lateral sclerosis, mood disorders and autoimmune diseases.