Biohaven Ltd. (NYSE:BHVN) Shares Sold by Hood River Capital Management LLC

Hood River Capital Management LLC lowered its holdings in Biohaven Ltd. (NYSE:BHVN - Free Report) by 13.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 783,672 shares of the company's stock after selling 119,216 shares during the quarter. Hood River Capital Management LLC owned about 0.77% of Biohaven worth $29,270,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. JPMorgan Chase & Co. lifted its position in Biohaven by 144.5% in the fourth quarter. JPMorgan Chase & Co. now owns 1,979,169 shares of the company's stock valued at $73,922,000 after purchasing an additional 1,169,721 shares during the period. Norges Bank acquired a new stake in shares of Biohaven in the 4th quarter valued at approximately $33,711,000. Vanguard Group Inc. boosted its stake in shares of Biohaven by 8.1% in the fourth quarter. Vanguard Group Inc. now owns 8,414,120 shares of the company's stock valued at $314,267,000 after buying an additional 628,211 shares in the last quarter. Wellington Management Group LLP raised its position in Biohaven by 160.7% in the fourth quarter. Wellington Management Group LLP now owns 634,055 shares of the company's stock worth $23,682,000 after acquiring an additional 390,888 shares in the last quarter. Finally, Emerald Advisers LLC acquired a new stake in Biohaven in the fourth quarter valued at $13,466,000. Institutional investors and hedge funds own 88.78% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Robert W. Baird dropped their price objective on Biohaven from $60.00 to $57.00 and set an "outperform" rating for the company in a research note on Monday. Morgan Stanley cut their price objective on Biohaven from $69.00 to $63.00 and set an "overweight" rating for the company in a research report on Friday, March 7th. Deutsche Bank Aktiengesellschaft set a $60.00 target price on Biohaven and gave the company a "buy" rating in a report on Thursday, March 20th. Royal Bank of Canada restated an "outperform" rating and issued a $61.00 price objective on shares of Biohaven in a research report on Tuesday, March 4th. Finally, William Blair upgraded Biohaven to a "strong-buy" rating in a research report on Thursday. Fourteen equities research analysts have rated the stock with a buy rating and one has 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 $62.54.

Insider Buying and Selling

In other Biohaven news, Director John W. Childs acquired 32,700 shares of the company'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 acquisition, the director now directly owns 2,320,571 shares of the company's stock, valued at $70,707,798.37. This trade represents a 1.43 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 16.00% of the stock is owned by corporate insiders.

Biohaven Stock Performance

Biohaven stock traded up $1.07 during midday trading on Monday, reaching $20.91. The stock had a trading volume of 2,424,338 shares, compared to its average volume of 1,136,034. The stock's 50-day simple moving average is $26.44 and its 200 day simple moving average is $37.41. Biohaven Ltd. has a twelve month low of $15.79 and a twelve month high of $55.70. The stock has a market capitalization of $2.13 billion, a PE ratio of -2.24 and a beta of 1.33.

Biohaven (NYSE:BHVN - Get Free Report) last posted its quarterly earnings results on Monday, March 3rd. The company reported ($1.85) EPS for the quarter, missing the consensus estimate of ($1.56) by ($0.29). Equities analysts predict that Biohaven Ltd. will post -8.9 earnings per share for the current fiscal 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.