Biohaven Ltd. $BHVN Shares Sold by Magnetar Financial LLC

Key Points

• Magnetar Financial LLC significantly reduced its holdings in Biohaven Ltd. by 68.0%, selling 26,709 shares during the first quarter and now owning 12,551 shares worth $302,000.
• Several institutional investors increased their stakes in Biohaven, with notable boosts from Hsbc Holdings PLC (10.8% increase) and Alyeska Investment Group L.P. (129.4% increase) during the fourth quarter.
• Biohaven's stock is currently priced at $15.35 with a market cap of $1.62 billion, and it has received mixed ratings from analysts, indicating a consensus price target of $54.23.

Magnetar Financial LLC cut its position in Biohaven Ltd. (NYSE:BHVN - Free Report) by 68.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,551 shares of the company's stock after selling 26,709 shares during the quarter. Magnetar Financial LLC's holdings in Biohaven were worth $302,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Hsbc Holdings PLC increased its holdings in Biohaven by 10.8% in the 4th quarter. Hsbc Holdings PLC now owns 10,361 shares of the company's stock worth $380,000 after buying an additional 1,006 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Biohaven by 3.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 199,183 shares of the company's stock valued at $7,439,000 after purchasing an additional 6,506 shares in the last quarter. Northern Trust Corp lifted its holdings in Biohaven by 19.9% in the 4th quarter. Northern Trust Corp now owns 811,155 shares of the company's stock valued at $30,297,000 after purchasing an additional 134,879 shares in the last quarter. Bison Wealth LLC lifted its holdings in Biohaven by 0.4% in the 4th quarter. Bison Wealth LLC now owns 332,428 shares of the company's stock valued at $12,416,000 after purchasing an additional 1,440 shares in the last quarter. Finally, Alyeska Investment Group L.P. increased its stake in shares of Biohaven by 129.4% in the 4th quarter. Alyeska Investment Group L.P. now owns 106,351 shares of the company's stock worth $3,972,000 after acquiring an additional 60,000 shares during the last quarter. Institutional investors and hedge funds own 88.78% of the company's stock.

Biohaven Price Performance

BHVN traded down $0.22 during trading on Friday, reaching $15.85. 3,450,736 shares of the stock were exchanged, compared to its average volume of 1,934,479. The company has a debt-to-equity ratio of 1.91, a current ratio of 3.82 and a quick ratio of 3.82. Biohaven Ltd. has a 1 year low of $12.79 and a 1 year high of $55.70. The business's 50 day moving average price is $14.63 and its two-hundred day moving average price is $19.44. The company has a market capitalization of $1.68 billion, a price-to-earnings ratio of -2.07 and a beta of 1.02.

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

Analysts Set New Price Targets

A number of brokerages recently issued reports on BHVN. HC Wainwright reissued a "buy" rating and set a $30.00 price objective (down from $54.00) on shares of Biohaven in a research report on Tuesday, August 12th. Robert W. Baird decreased their price objective on Biohaven from $57.00 to $52.00 and set an "outperform" rating for the company in a research note on Tuesday, August 12th. Leerink Partners decreased their price objective on Biohaven from $60.00 to $50.00 and set an "outperform" rating for the company in a research note on Tuesday, August 12th. Cantor Fitzgerald upgraded Biohaven to a "strong-buy" rating in a research note on Tuesday, May 13th. Finally, Raymond James Financial raised Biohaven from a "moderate buy" rating to a "strong-buy" rating in a research report on Wednesday. Three research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $55.71.

Biohaven 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.