Nicholas Investment Partners LP Lowers Holdings in Biohaven Ltd. (NYSE:BHVN)

Nicholas Investment Partners LP lessened its stake in Biohaven Ltd. (NYSE:BHVN) by 26.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,673 shares of the company’s stock after selling 6,776 shares during the quarter. Nicholas Investment Partners LP’s holdings in Biohaven were worth $697,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Spire Wealth Management purchased a new position in Biohaven in the 4th quarter worth about $56,000. Amalgamated Bank raised its holdings in shares of Biohaven by 21.9% during the fourth quarter. Amalgamated Bank now owns 2,929 shares of the company’s stock valued at $109,000 after purchasing an additional 527 shares during the last quarter. US Bancorp DE raised its stake in Biohaven by 36.7% during the 4th quarter. US Bancorp DE now owns 2,971 shares of the company’s stock valued at $111,000 after buying an additional 798 shares during the last quarter. Quarry LP purchased a new stake in Biohaven during the 4th quarter valued at $112,000. Finally, Lazard Asset Management LLC raised its stake in Biohaven by 47.4% during the 4th quarter. Lazard Asset Management LLC now owns 3,207 shares of the company’s stock valued at $119,000 after buying an additional 1,031 shares during the last quarter. 88.78% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Morgan Stanley reduced 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. Royal Bank of Canada reduced their price target on shares of Biohaven from $61.00 to $54.00 and set an “outperform” rating for the company in a research report on Tuesday. 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. JPMorgan Chase & Co. reduced their price target on shares of Biohaven from $72.00 to $68.00 and set an “overweight” rating for the company in a research report on Wednesday, March 5th. Finally, William Blair raised shares of Biohaven to a “strong-buy” rating in a report on Thursday, April 24th. Fourteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $62.00.

Biohaven Stock Performance

Biohaven stock opened at $19.51 on Thursday. The firm has a 50 day moving average of $22.81 and a 200 day moving average of $34.80. The firm has a market capitalization of $1.99 billion, a price-to-earnings ratio of -2.09 and a beta of 1.18. Biohaven Ltd. has a 12-month low of $15.79 and a 12-month high of $55.70.

Biohaven (NYSE:BHVN) 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). On average, analysts predict that Biohaven Ltd. will post -8.9 EPS for the current year.

Insider Buying and Selling

In related news, Director John W. Childs purchased 32,700 shares of Biohaven 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 owns 2,320,571 shares in the company, valued at approximately $70,707,798.37. The trade was a 1.43% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 16.00% of the stock is currently owned by company insiders.

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.