Woodline Partners LP Cuts Holdings in Biohaven Ltd. (NYSE:BHVN)

Woodline Partners LP lessened its holdings in Biohaven Ltd. (NYSE:BHVN - Free Report) by 34.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 601,922 shares of the company's stock after selling 321,885 shares during the quarter. Woodline Partners LP owned 0.60% of Biohaven worth $22,482,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Spire Wealth Management acquired a new stake in shares of Biohaven in the 4th quarter valued at approximately $56,000. Amalgamated Bank raised its position in Biohaven by 21.9% in the fourth quarter. Amalgamated Bank now owns 2,929 shares of the company's stock worth $109,000 after acquiring an additional 527 shares in the last quarter. US Bancorp DE lifted its holdings in Biohaven by 36.7% in the fourth quarter. US Bancorp DE now owns 2,971 shares of the company's stock valued at $111,000 after acquiring an additional 798 shares during the period. Quarry LP acquired a new stake in Biohaven in the fourth quarter valued at $112,000. Finally, Lazard Asset Management LLC boosted its position in shares of 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 purchasing an additional 1,031 shares in the last quarter. Hedge funds and other institutional investors own 88.78% of the company's stock.

Analyst Ratings Changes

BHVN has been the subject of several recent analyst reports. Royal Bank of Canada cut shares of Biohaven from an "outperform" rating to a "sector perform" rating and reduced their price objective for the company from $54.00 to $21.00 in a research note on Monday, May 19th. Morgan Stanley reduced their price target on shares of Biohaven from $69.00 to $63.00 and set an "overweight" rating for the company in a research report on Friday, March 7th. JPMorgan Chase & Co. lowered their price target on Biohaven from $72.00 to $68.00 and set an "overweight" rating on the stock in a report on Wednesday, March 5th. Deutsche Bank Aktiengesellschaft set a $60.00 price objective on Biohaven and gave the stock a "buy" rating in a report on Thursday, March 20th. Finally, Cantor Fitzgerald upgraded Biohaven to a "strong-buy" rating in a research report on Tuesday, May 13th. One equities research analyst has rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $59.46.

Insider Buying and Selling

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 stock was bought at an average cost of $30.47 per share, for a total transaction of $996,369.00. Following the acquisition, the director now owns 2,320,571 shares of the company's stock, valued at approximately $70,707,798.37. The trade was a 1.43% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 16.00% of the stock is owned by company insiders.

Biohaven Stock Performance

Biohaven stock traded up $0.24 during midday trading on Monday, reaching $15.67. 2,283,708 shares of the company were exchanged, compared to its average volume of 1,238,104. The firm's 50-day simple moving average is $20.97 and its 200-day simple moving average is $32.83. Biohaven Ltd. has a 1 year low of $14.69 and a 1 year high of $55.70. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of -1.68 and a beta of 1.18.

Biohaven (NYSE:BHVN - Get Free Report) last released its quarterly earnings results on Monday, May 12th. The company reported ($2.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.67) by ($0.50). On average, analysts forecast that Biohaven Ltd. will post -8.9 EPS for the current fiscal year.

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.