Simplify Asset Management Inc. Purchases 848,517 Shares of Biohaven Ltd. $BHVN

Simplify Asset Management Inc. boosted its position in Biohaven Ltd. (NYSE:BHVN) by 773.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 958,202 shares of the company’s stock after purchasing an additional 848,517 shares during the quarter. Biohaven makes up 0.2% of Simplify Asset Management Inc.’s portfolio, making the stock its 22nd biggest position. Simplify Asset Management Inc.’s holdings in Biohaven were worth $10,818,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Biohaven by 52.9% in the fourth quarter. Vanguard Group Inc. now owns 4,395,946 shares of the company’s stock worth $49,630,000 after purchasing an additional 1,520,756 shares in the last quarter. Holocene Advisors LP increased its holdings in shares of Biohaven by 19.1% during the second quarter. Holocene Advisors LP now owns 1,495,641 shares of the company’s stock valued at $21,103,000 after acquiring an additional 239,889 shares in the last quarter. Qube Research & Technologies Ltd increased its holdings in shares of Biohaven by 834.4% during the third quarter. Qube Research & Technologies Ltd now owns 1,265,597 shares of the company’s stock valued at $18,997,000 after acquiring an additional 1,130,157 shares in the last quarter. ARS Investment Partners LLC increased its holdings in shares of Biohaven by 12.4% during the fourth quarter. ARS Investment Partners LLC now owns 1,239,600 shares of the company’s stock valued at $13,995,000 after acquiring an additional 137,051 shares in the last quarter. Finally, Capital Research Global Investors increased its holdings in shares of Biohaven by 108.9% during the third quarter. Capital Research Global Investors now owns 1,011,530 shares of the company’s stock valued at $15,183,000 after acquiring an additional 527,337 shares in the last quarter. Institutional investors own 88.78% of the company’s stock.

Biohaven Trading Down 0.1%

Biohaven stock opened at $9.45 on Monday. The company has a debt-to-equity ratio of 1.87, a current ratio of 7.41 and a quick ratio of 7.41. Biohaven Ltd. has a one year low of $7.48 and a one year high of $18.57. The stock has a market capitalization of $1.42 billion, a PE ratio of -1.67 and a beta of 1.32. The business’s fifty day moving average is $9.44 and its 200 day moving average is $10.32.

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, sell-side analysts predict that Biohaven Ltd. will post -3 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BHVN. Raymond James Financial restated a “strong-buy” rating on shares of Biohaven in a report on Monday, March 9th. Royal Bank Of Canada reduced their price target on Biohaven from $23.00 to $22.00 and set an “outperform” rating for the company in a report on Tuesday, May 5th. Canaccord Genuity Group began coverage on Biohaven in a report on Monday, April 13th. They set a “buy” rating and a $21.00 price target for the company. TD Cowen raised their price target on Biohaven from $15.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday, March 11th. Finally, HC Wainwright reduced their price target on Biohaven from $11.00 to $10.00 and set a “neutral” rating for the company in a report on Wednesday, March 4th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $22.27.

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.