Nicholas Investment Partners LP Has $5.12 Million Stock Position in Biohaven Ltd. (NYSE:BHVN)

Nicholas Investment Partners LP reduced its position in Biohaven Ltd. (NYSE:BHVN - Free Report) by 79.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 119,512 shares of the company's stock after selling 473,035 shares during the period. Nicholas Investment Partners LP owned about 0.15% of Biohaven worth $5,115,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Redmile Group LLC acquired a new position in Biohaven during the third quarter worth $13,497,000. First Turn Management LLC acquired a new position in shares of Biohaven during the 4th quarter valued at about $20,429,000. Jennison Associates LLC acquired a new position in Biohaven during the fourth quarter valued at approximately $11,402,000. Armistice Capital LLC raised its position in shares of Biohaven by 13.1% in the third quarter. Armistice Capital LLC now owns 2,036,000 shares of the company's stock valued at $52,956,000 after purchasing an additional 236,000 shares during the period. Finally, Victory Capital Management Inc. bought a new position in shares of Biohaven in the fourth quarter valued at approximately $6,784,000. 88.78% of the stock is owned by hedge funds and other institutional investors.

Biohaven Stock Performance

Shares of NYSE:BHVN traded down $0.16 during trading on Wednesday, hitting $37.08. 1,011,263 shares of the stock were exchanged, compared to its average volume of 1,250,828. The company has a market capitalization of $3.27 billion, a price-to-earnings ratio of -5.43 and a beta of 1.26. Biohaven Ltd. has a 1-year low of $13.53 and a 1-year high of $62.21. The company's fifty day simple moving average is $48.48 and its 200-day simple moving average is $43.08.

Biohaven (NYSE:BHVN - Get Free Report) last announced its quarterly earnings data on Thursday, February 29th. The company reported ($1.81) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.41) by ($0.40). On average, research analysts forecast that Biohaven Ltd. will post -5.79 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. HC Wainwright lowered their target price on shares of Biohaven from $63.00 to $59.00 and set a "buy" rating on the stock in a research note on Monday. Royal Bank of Canada reiterated an "outperform" rating and issued a $61.00 price objective on shares of Biohaven in a research note on Tuesday, April 9th. Cantor Fitzgerald restated an "overweight" rating on shares of Biohaven in a research note on Thursday, April 18th. UBS Group lifted their price target on Biohaven from $59.00 to $60.00 and gave the stock a "buy" rating in a research report on Tuesday, April 23rd. Finally, JPMorgan Chase & Co. increased their price objective on Biohaven from $32.00 to $56.00 and gave the company an "overweight" rating in a research report on Friday, February 23rd. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $51.63.

Insider Buying and Selling

In related news, Director John W. Childs bought 28,500 shares of the business's stock in a transaction that occurred on Monday, May 13th. The stock was acquired at an average price of $35.17 per share, for a total transaction of $1,002,345.00. Following the transaction, the director now directly owns 2,283,341 shares of the company's stock, valued at $80,305,102.97. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Biohaven news, CEO Vlad Coric bought 121,951 shares of Biohaven stock in a transaction dated Monday, April 22nd. The shares were acquired at an average cost of $41.00 per share, with a total value of $4,999,991.00. Following the acquisition, the chief executive officer now directly owns 1,788,417 shares of the company's stock, valued at $73,325,097. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John W. Childs bought 28,500 shares of the stock in a transaction dated Monday, May 13th. The stock was acquired at an average price of $35.17 per share, with a total value of $1,002,345.00. Following the completion of the purchase, the director now owns 2,283,341 shares of the company's stock, valued at approximately $80,305,102.97. The disclosure for this purchase can be found here. Insiders acquired 224,734 shares of company stock valued at $9,001,524 over the last quarter. Corporate insiders own 16.00% of the company's stock.

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.

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