Lion Point Capital LP Sells 12,700 Shares of Biohaven Ltd. (NYSE:BHVN)

Lion Point Capital LP decreased its holdings in Biohaven Ltd. (NYSE:BHVN - Free Report) by 35.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 22,700 shares of the company's stock after selling 12,700 shares during the period. Biohaven makes up about 4.4% of Lion Point Capital LP's portfolio, making the stock its 9th biggest position. Lion Point Capital LP's holdings in Biohaven were worth $848,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Teacher Retirement System of Texas grew its stake in Biohaven by 31.6% in the fourth quarter. Teacher Retirement System of Texas now owns 23,320 shares of the company's stock valued at $871,000 after acquiring an additional 5,600 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Biohaven by 9.1% in the 4th quarter. Bank of New York Mellon Corp now owns 295,078 shares of the company's stock worth $11,021,000 after purchasing an additional 24,703 shares during the period. American Century Companies Inc. lifted its position in shares of Biohaven by 9.5% during the 4th quarter. American Century Companies Inc. now owns 558,761 shares of the company's stock valued at $20,870,000 after buying an additional 48,286 shares during the last quarter. Alliancebernstein L.P. boosted its position in Biohaven by 6.6% during the fourth quarter. Alliancebernstein L.P. now owns 96,236 shares of the company's stock worth $3,594,000 after purchasing an additional 5,951 shares during the period. Finally, LPL Financial LLC raised its holdings in Biohaven by 4.1% during the 4th quarter. LPL Financial LLC now owns 42,190 shares of the company's stock valued at $1,576,000 after acquiring an additional 1,664 shares during the period. Institutional investors and hedge funds own 88.78% of the company's stock.

Insider Transactions at Biohaven

In other news, Director John W. Childs purchased 32,700 shares of the company's stock in a transaction dated Tuesday, March 4th. The stock was acquired at an average price of $30.47 per share, for a total transaction of $996,369.00. Following the completion of the transaction, the director now directly owns 2,320,571 shares in the company, valued at $70,707,798.37. This represents a 1.43% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Insiders own 16.00% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on BHVN shares. JPMorgan Chase & Co. lowered their target price on shares of Biohaven from $72.00 to $68.00 and set an "overweight" rating on the stock in a research note on Wednesday, March 5th. Robert W. Baird decreased their price target on shares of Biohaven from $60.00 to $57.00 and set an "outperform" rating on the stock in a research note on Monday, April 28th. William Blair upgraded Biohaven to a "strong-buy" rating in a report on Thursday, April 24th. Morgan Stanley decreased their price objective on shares of Biohaven from $69.00 to $63.00 and set an "overweight" rating on the stock in a research report on Friday, March 7th. Finally, Cantor Fitzgerald upgraded Biohaven to a "strong-buy" rating in a report on Tuesday. Thirteen investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $62.00.

Biohaven Stock Performance

Shares of NYSE:BHVN traded down $3.85 during trading on Thursday, reaching $15.81. The stock had a trading volume of 7,703,411 shares, compared to its average volume of 1,198,007. The business has a fifty day moving average price of $22.81 and a 200-day moving average price of $34.80. The stock has a market cap of $1.61 billion, a PE ratio of -1.69 and a beta of 1.18. Biohaven Ltd. has a 1-year low of $15.12 and a 1-year high of $55.70.

Biohaven (NYSE:BHVN - Get Free Report) last released 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). Sell-side analysts expect that Biohaven Ltd. will post -8.9 earnings per share for the current 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.