Two Sigma Advisers LP Trims Stake in Biohaven Ltd. (NYSE:BHVN)

Two Sigma Advisers LP cut its position in Biohaven Ltd. (NYSE:BHVN) by 45.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 99,900 shares of the company’s stock after selling 84,300 shares during the quarter. Two Sigma Advisers LP’s holdings in Biohaven were worth $3,731,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Spire Wealth Management acquired a new position in shares of Biohaven in the 4th quarter valued at $56,000. Amalgamated Bank grew its position in Biohaven by 21.9% during the 4th quarter. Amalgamated Bank now owns 2,929 shares of the company’s stock worth $109,000 after purchasing an additional 527 shares during the last quarter. US Bancorp DE increased its stake 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 purchasing an additional 798 shares during the period. Quarry LP purchased a new stake in shares of Biohaven in the fourth quarter valued at about $112,000. Finally, Lazard Asset Management LLC boosted its stake in shares of Biohaven by 47.4% during the fourth quarter. Lazard Asset Management LLC now owns 3,207 shares of the company’s stock worth $119,000 after buying an additional 1,031 shares during the period. Hedge funds and other institutional investors own 88.78% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BHVN. Cantor Fitzgerald upgraded Biohaven to a “strong-buy” rating in a research report on Tuesday, May 13th. Morgan Stanley dropped their target price on Biohaven from $69.00 to $63.00 and set an “overweight” rating on the stock in a report on Friday, March 7th. Deutsche Bank Aktiengesellschaft set a $60.00 price target on Biohaven and gave the stock a “buy” rating in a report on Thursday, March 20th. William Blair raised shares of Biohaven to a “strong-buy” rating in a research note on Thursday, April 24th. Finally, JPMorgan Chase & Co. cut their price objective 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. One research analyst has rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $59.46.

Biohaven Trading Up 1.5%

Shares of BHVN opened at $15.67 on Tuesday. Biohaven Ltd. has a twelve month low of $14.69 and a twelve month high of $55.70. The firm has a market capitalization of $1.60 billion, a P/E ratio of -1.68 and a beta of 1.18. The stock’s fifty day simple moving average is $20.71 and its 200 day simple moving average is $32.57.

Biohaven (NYSE:BHVN) last released its quarterly earnings data on Monday, May 12th. The company reported ($2.17) earnings per share for the quarter, missing the consensus estimate of ($1.67) by ($0.50). Sell-side analysts predict that Biohaven Ltd. will post -8.9 earnings per share for the current year.

Insider Buying and Selling at Biohaven

In related news, Director John W. Childs acquired 32,700 shares of Biohaven stock in a transaction on Tuesday, March 4th. The shares were bought at an average price of $30.47 per share, for a total transaction of $996,369.00. Following the completion of the purchase, the director now directly owns 2,320,571 shares in the company, valued at $70,707,798.37. This trade represents a 1.43% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 16.00% of the stock is currently owned by corporate insiders.

About Biohaven

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.