Two Sigma Advisers LP reduced its stake in shares of Biohaven Ltd. (NYSE:BHVN - Free Report) by 45.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 99,900 shares of the company's stock after selling 84,300 shares during the quarter. Two Sigma Advisers LP owned about 0.10% of Biohaven worth $3,731,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Spire Wealth Management acquired a new position in shares of Biohaven during the 4th quarter worth about $56,000. Amalgamated Bank boosted its position in Biohaven by 21.9% during the 4th quarter. Amalgamated Bank now owns 2,929 shares of the company's stock worth $109,000 after acquiring an additional 527 shares during the last quarter. US Bancorp DE boosted its position in Biohaven by 36.7% during the 4th quarter. US Bancorp DE now owns 2,971 shares of the company's stock worth $111,000 after acquiring an additional 798 shares during the last quarter. Quarry LP acquired a new position in Biohaven during the 4th quarter worth approximately $112,000. Finally, Lazard Asset Management LLC boosted its position in Biohaven by 47.4% during the 4th quarter. Lazard Asset Management LLC now owns 3,207 shares of the company's stock worth $119,000 after acquiring an additional 1,031 shares during the last quarter. 88.78% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
BHVN has been the subject of a number of recent research reports. Morgan Stanley reduced their price target on Biohaven from $69.00 to $63.00 and set an "overweight" rating for the company in a research report on Friday, March 7th. Robert W. Baird dropped their price objective on Biohaven from $60.00 to $57.00 and set an "outperform" rating on the stock in a research note on Monday, April 28th. HC Wainwright reiterated a "buy" rating and set a $54.00 price objective on shares of Biohaven in a research note on Tuesday, March 4th. William Blair upgraded Biohaven to a "strong-buy" rating in a research note on Thursday, April 24th. Finally, Royal Bank of Canada cut Biohaven from an "outperform" rating to a "sector perform" rating and dropped their price objective for the stock from $54.00 to $21.00 in a research note on Monday, May 19th. One research analyst has rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $59.46.
View Our Latest Analysis on Biohaven
Insider Transactions at Biohaven
In related news, Director John W. Childs bought 32,700 shares of Biohaven stock in a transaction dated Tuesday, March 4th. The shares were bought at an average cost of $30.47 per share, with a total value of $996,369.00. Following the acquisition, the director now owns 2,320,571 shares in the company, valued at $70,707,798.37. This trade represents a 1.43% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 16.00% of the stock is currently owned by insiders.
Biohaven Stock Performance
BHVN traded up $0.09 during trading hours on Friday, reaching $14.83. The company's stock had a trading volume of 2,458,064 shares, compared to its average volume of 1,222,698. Biohaven Ltd. has a 52 week low of $14.33 and a 52 week high of $55.70. The company's 50-day moving average is $19.56 and its 200-day moving average is $31.70. The firm has a market cap of $1.51 billion, a PE ratio of -1.59 and a beta of 1.18.
Biohaven (NYSE:BHVN - Get Free Report) last issued 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). Equities analysts anticipate that Biohaven Ltd. will post -8.9 earnings per share for the current fiscal year.
About Biohaven
(
Free Report)
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.
Further Reading
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