Y Intercept Hong Kong Ltd Trims Stake in Biohaven Ltd. (NYSE:BHVN)

Y Intercept Hong Kong Ltd trimmed its holdings in shares of Biohaven Ltd. (NYSE:BHVN) by 68.5% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 8,445 shares of the company’s stock after selling 18,344 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Biohaven were worth $315,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Stifel Financial Corp boosted its holdings in shares of Biohaven by 0.4% in the 3rd quarter. Stifel Financial Corp now owns 6,509,261 shares of the company’s stock worth $325,268,000 after purchasing an additional 28,684 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Biohaven by 5.6% in the 3rd quarter. Janus Henderson Group PLC now owns 6,226,393 shares of the company’s stock worth $311,142,000 after purchasing an additional 328,099 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Biohaven by 2.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,714,612 shares of the company’s stock worth $85,696,000 after purchasing an additional 44,174 shares in the last quarter. Point72 Asset Management L.P. boosted its holdings in shares of Biohaven by 745.9% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,500,284 shares of the company’s stock worth $74,969,000 after purchasing an additional 1,322,922 shares in the last quarter. Finally, ARS Investment Partners LLC boosted its holdings in shares of Biohaven by 1.0% in the 4th quarter. ARS Investment Partners LLC now owns 1,040,712 shares of the company’s stock worth $38,871,000 after purchasing an additional 10,473 shares in the last quarter. 88.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Biohaven

In other news, Director John W. Childs bought 29,000 shares of the firm’s stock in a transaction dated Monday, December 30th. The stock was purchased at an average price of $35.94 per share, with a total value of $1,042,260.00. Following the transaction, the director now owns 2,368,741 shares of the company’s stock, valued at approximately $85,132,551.54. The trade was a 1.24 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 16.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on BHVN shares. Cantor Fitzgerald reiterated an “overweight” rating on shares of Biohaven in a report on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft started coverage on Biohaven in a report on Tuesday, February 11th. They issued a “buy” rating and a $65.00 price objective for the company. TD Cowen upped their price objective on Biohaven from $55.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Royal Bank of Canada reissued an “outperform” rating and issued a $61.00 target price (up previously from $58.00) on shares of Biohaven in a research note on Wednesday, December 4th. Finally, HC Wainwright reissued a “buy” rating and issued a $59.00 target price on shares of Biohaven in a research note on Tuesday, December 17th. Fourteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $63.15.

Biohaven Price Performance

BHVN opened at $31.93 on Tuesday. The business has a 50 day simple moving average of $38.24 and a two-hundred day simple moving average of $42.77. The firm has a market capitalization of $3.23 billion, a price-to-earnings ratio of -3.41 and a beta of 1.28. Biohaven Ltd. has a one year low of $26.80 and a one year high of $62.21.

Biohaven (NYSE:BHVN) last released its quarterly earnings results on Monday, March 3rd. The company reported ($1.85) EPS for the quarter, missing analysts’ consensus estimates of ($1.56) by ($0.29). As a group, sell-side analysts expect that Biohaven Ltd. will post -8.9 EPS for the current fiscal year.

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.