Voloridge Investment Management LLC Cuts Position in Biohaven Ltd. (NYSE:BHVN)

Voloridge Investment Management LLC lessened its holdings in shares of Biohaven Ltd. (NYSE:BHVN - Free Report) by 62.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 100,568 shares of the company's stock after selling 165,577 shares during the quarter. Voloridge Investment Management LLC owned approximately 0.10% of Biohaven worth $3,756,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. TrinityPoint Wealth LLC acquired a new position in shares of Biohaven during the 4th quarter valued at about $1,385,000. Suvretta Capital Management LLC boosted its position in shares of Biohaven by 8.1% during the 4th quarter. Suvretta Capital Management LLC now owns 5,620,271 shares of the company's stock valued at $209,917,000 after acquiring an additional 421,052 shares during the last quarter. Sphera Funds Management LTD. boosted its position in shares of Biohaven by 17.4% during the 4th quarter. Sphera Funds Management LTD. now owns 156,494 shares of the company's stock valued at $5,845,000 after acquiring an additional 23,171 shares during the last quarter. ProShare Advisors LLC boosted its position in shares of Biohaven by 70.5% during the 4th quarter. ProShare Advisors LLC now owns 24,189 shares of the company's stock valued at $903,000 after acquiring an additional 9,999 shares during the last quarter. Finally, Nuveen Asset Management LLC boosted its position in shares of Biohaven by 55.1% during the 4th quarter. Nuveen Asset Management LLC now owns 919,235 shares of the company's stock valued at $34,333,000 after acquiring an additional 326,636 shares during the last quarter. Institutional investors and hedge funds own 88.78% of the company's stock.

Biohaven Stock Up 0.6%

NYSE:BHVN traded up $0.09 on Friday, reaching $14.83. 2,458,064 shares of the company's stock were exchanged, compared to its average volume of 1,222,698. The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of -1.59 and a beta of 1.18. The business has a fifty day moving average of $19.56 and a 200-day moving average of $31.58. Biohaven Ltd. has a 52-week low of $14.33 and a 52-week high of $55.70.

Biohaven (NYSE:BHVN - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The company reported ($2.17) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.67) by ($0.50). As a group, equities analysts anticipate that Biohaven Ltd. will post -8.9 earnings per share for the current year.

Insiders Place Their Bets

In other Biohaven news, Director John W. Childs purchased 32,700 shares of the business's stock in a transaction on Tuesday, March 4th. The shares were bought at an average cost of $30.47 per share, for a total transaction of $996,369.00. Following the completion of the purchase, the director now directly owns 2,320,571 shares of the company's stock, valued at approximately $70,707,798.37. This trade represents a 1.43% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 16.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on BHVN. Royal Bank of Canada cut shares of Biohaven from an "outperform" rating to a "sector perform" rating and lowered their price target for the company from $54.00 to $21.00 in a research report on Monday, May 19th. Deutsche Bank Aktiengesellschaft set a $60.00 price target on shares of Biohaven and gave the company a "buy" rating in a research report on Thursday, March 20th. William Blair raised shares of Biohaven to a "strong-buy" rating in a research report on Thursday, April 24th. Morgan Stanley reduced their price objective on shares of Biohaven from $69.00 to $63.00 and set an "overweight" rating on the stock in a report on Friday, March 7th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Biohaven from $72.00 to $68.00 and set an "overweight" rating on the stock in a report on Wednesday, March 5th. One equities 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 stock. Based on data from MarketBeat.com, Biohaven currently has an average rating of "Buy" and a consensus target price of $59.46.

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.