Biohaven Ltd. $BHVN Shares Sold by Adage Capital Partners GP L.L.C.

Key Points

• Adage Capital Partners GP L.L.C. reduced its stake in Biohaven Ltd. by 4.1%, now owning approximately 551,361 shares valued at $13.3 million.
• Analysts have mixed opinions on Biohaven stock, with target prices ranging from $30.00 to $54.00 and a consensus rating of "Buy."
• Biohaven stock is currently down 1.4%, trading at $15.85, significantly below its one-year high of $55.70.

Adage Capital Partners GP L.L.C. reduced its position in shares of Biohaven Ltd. (NYSE:BHVN - Free Report) by 4.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 551,361 shares of the company's stock after selling 23,639 shares during the period. Adage Capital Partners GP L.L.C. owned about 0.54% of Biohaven worth $13,255,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in BHVN. Hsbc Holdings PLC raised its holdings in Biohaven by 10.8% in the fourth quarter. Hsbc Holdings PLC now owns 10,361 shares of the company's stock valued at $380,000 after acquiring an additional 1,006 shares in the last quarter. Northern Trust Corp raised its holdings in Biohaven by 19.9% in the fourth quarter. Northern Trust Corp now owns 811,155 shares of the company's stock valued at $30,297,000 after acquiring an additional 134,879 shares in the last quarter. Bison Wealth LLC raised its holdings in Biohaven by 0.4% in the fourth quarter. Bison Wealth LLC now owns 332,428 shares of the company's stock valued at $12,416,000 after acquiring an additional 1,440 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in Biohaven by 40.0% in the fourth quarter. Ameriprise Financial Inc. now owns 508,682 shares of the company's stock valued at $18,994,000 after acquiring an additional 145,331 shares in the last quarter. Finally, BNP Paribas Financial Markets acquired a new stake in Biohaven in the fourth quarter valued at $1,560,000. 88.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on BHVN shares. Bank of America cut their price target on shares of Biohaven from $50.00 to $49.00 and set a "buy" rating on the stock in a report on Tuesday, August 12th. HC Wainwright reissued a "buy" rating and set a $30.00 target price (down from $54.00) on shares of Biohaven in a report on Tuesday, August 12th. Robert W. Baird dropped their target price on shares of Biohaven from $57.00 to $52.00 and set an "outperform" rating on the stock in a report on Tuesday, August 12th. Morgan Stanley dropped their target price on shares of Biohaven from $63.00 to $54.00 and set an "overweight" rating on the stock in a report on Tuesday, August 12th. Finally, Cantor Fitzgerald raised shares of Biohaven to a "strong-buy" rating in a report on Tuesday, May 13th. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $55.71.

Biohaven Stock Down 1.4%

Biohaven stock opened at $15.85 on Friday. The company has a 50-day simple moving average of $14.63 and a 200-day simple moving average of $19.44. The firm has a market capitalization of $1.68 billion, a P/E ratio of -2.07 and a beta of 1.02. The company has a debt-to-equity ratio of 1.91, a quick ratio of 3.82 and a current ratio of 3.82. Biohaven Ltd. has a one year low of $12.79 and a one year high of $55.70.

Biohaven (NYSE:BHVN - Get Free Report) last released its quarterly earnings results on Monday, August 11th. The company reported ($1.94) EPS for the quarter, hitting the consensus estimate of ($1.94). As a group, equities analysts expect that Biohaven Ltd. will post -8.9 earnings per share for the current year.

Biohaven Company Profile

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.

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