IFP Advisors Inc Acquires 2,544 Shares of Biohaven Ltd. (NYSE:BHVN)

IFP Advisors Inc lifted its holdings in Biohaven Ltd. (NYSE:BHVN) by 84,800.0% in the 1st quarter, Holdings Channel.com reports. The firm owned 2,547 shares of the company’s stock after buying an additional 2,544 shares during the quarter. IFP Advisors Inc’s holdings in Biohaven were worth $61,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Parallel Advisors LLC lifted its stake in Biohaven by 319.8% in the first quarter. Parallel Advisors LLC now owns 1,360 shares of the company’s stock valued at $33,000 after buying an additional 1,036 shares in the last quarter. KBC Group NV raised its holdings in shares of Biohaven by 35.0% during the first quarter. KBC Group NV now owns 4,560 shares of the company’s stock worth $110,000 after acquiring an additional 1,183 shares during the period. Quarry LP bought a new stake in Biohaven in the 4th quarter valued at $112,000. Lazard Asset Management LLC boosted its stake in Biohaven by 47.4% in the 4th quarter. Lazard Asset Management LLC now owns 3,207 shares of the company’s stock worth $119,000 after purchasing an additional 1,031 shares during the period. Finally, Elkhorn Partners Limited Partnership boosted its stake in Biohaven by 50.0% in the 4th quarter. Elkhorn Partners Limited Partnership now owns 3,300 shares of the company’s stock worth $123,000 after purchasing an additional 1,100 shares during the period. 88.78% of the stock is owned by institutional investors.

Biohaven Trading Up 22.5%

NYSE:BHVN opened at $15.72 on Thursday. The stock has a market capitalization of $1.61 billion, a PE ratio of -1.68 and a beta of 0.91. Biohaven Ltd. has a 1-year low of $12.79 and a 1-year high of $55.70. The firm has a fifty day simple moving average of $14.73 and a 200 day simple moving average of $23.88.

Biohaven (NYSE:BHVN) last announced its quarterly earnings data on Monday, May 12th. The company reported ($2.17) EPS for the quarter, missing analysts’ consensus estimates of ($1.67) by ($0.50). On average, equities analysts predict that Biohaven Ltd. will post -8.9 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have issued reports on BHVN. Robert W. Baird dropped their price target on Biohaven from $60.00 to $57.00 and set an “outperform” rating on the stock in a research note on Monday, April 28th. William Blair raised Biohaven to a “strong-buy” rating in a research report on Thursday, April 24th. Royal Bank Of Canada downgraded Biohaven from an “outperform” rating to a “sector perform” rating and reduced their price target for the stock from $54.00 to $21.00 in a research report on Monday, May 19th. Cantor Fitzgerald raised shares of Biohaven to a “strong-buy” rating in a research note on Tuesday, May 13th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Biohaven from $68.00 to $55.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 18th. One analyst has rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $58.46.

About Biohaven

Biohaven Ltd., together with its subsidiaries, focuses on discovering, developing, and commercializing therapies for immunology, neuroscience, and oncology worldwide. The company's pipeline products include Troriluzole, which is in Phase 3 clinical trial for the treatment of neurological and neuropsychiatric illnesses; BHV-5500 that blocks glutamate signaling mediated by post-synaptic NMDA receptors; Taldefgrobep Alfa, which is in Phase 3 clinical trial for the treatment of spinal muscular atrophy and obesity; BHV-7000, a candidate in Phase 2/3 clinical trials for the treatment of focal and generalized epilepsy, bipolar disorder, and major depressive disorder; BHV-2100 that is in Phase 1 clinical trials for the treatment of migraines and neuropathic pain; and BHV-8000, a product candidate in Phase 1 clinical trials for the treatment of early Alzheimer's and Parkinson's disease, sclerosis, and amyloid-related imaging abnormalities.