Marshall Wace LLP Trims Stock Holdings in Biohaven Ltd. (NYSE:BHVN)

Marshall Wace LLP trimmed its position in Biohaven Ltd. (NYSE:BHVN) by 86.5% during the 2nd quarter, Holdings Channel.com reports. The firm owned 105,568 shares of the company’s stock after selling 677,724 shares during the period. Marshall Wace LLP’s holdings in Biohaven were worth $3,664,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Redwood Wealth Management Group LLC bought a new stake in Biohaven in the second quarter worth $61,000. Elkhorn Partners Limited Partnership bought a new stake in Biohaven in the second quarter worth $125,000. Cypress Wealth Services LLC bought a new stake in Biohaven in the first quarter worth $326,000. Transatlantique Private Wealth LLC boosted its holdings in Biohaven by 52.6% in the second quarter. Transatlantique Private Wealth LLC now owns 7,707 shares of the company’s stock worth $268,000 after acquiring an additional 2,657 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado boosted its holdings in Biohaven by 114.5% in the second quarter. Public Employees Retirement Association of Colorado now owns 7,796 shares of the company’s stock worth $271,000 after acquiring an additional 4,162 shares in the last quarter. 88.78% of the stock is owned by institutional investors.

Biohaven Stock Performance

Biohaven stock opened at $47.99 on Thursday. The stock has a market cap of $4.24 billion, a PE ratio of -7.03 and a beta of 1.30. Biohaven Ltd. has a one year low of $22.12 and a one year high of $62.21. The stock has a fifty day moving average of $40.02 and a 200 day moving average of $40.39.

Biohaven (NYSE:BHVN) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($3.64) EPS for the quarter, missing analysts’ consensus estimates of ($1.72) by ($1.92). As a group, sell-side analysts predict that Biohaven Ltd. will post -8.92 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on BHVN shares. Bank of America boosted their target price on Biohaven from $52.00 to $62.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. William Blair raised Biohaven to a “strong-buy” rating in a report on Friday, August 30th. Sanford C. Bernstein upped their price target on Biohaven from $55.00 to $66.00 and gave the company an “outperform” rating in a report on Tuesday, September 24th. Jefferies Financial Group started coverage on Biohaven in a report on Monday, September 16th. They set a “buy” rating and a $57.00 price target on the stock. Finally, Piper Sandler upped their price target on Biohaven from $66.00 to $76.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. Thirteen research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $60.92.

Insider Activity at Biohaven

In other news, Director John W. Childs acquired 28,400 shares of Biohaven stock in a transaction that occurred on Thursday, July 18th. The stock was bought at an average price of $35.67 per share, for a total transaction of $1,013,028.00. Following the completion of the transaction, the director now owns 2,339,741 shares in the company, valued at $83,458,561.47. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director John W. Childs purchased 28,400 shares of Biohaven stock in a transaction on Thursday, July 18th. The stock was acquired at an average price of $35.67 per share, for a total transaction of $1,013,028.00. Following the completion of the transaction, the director now directly owns 2,339,741 shares in the company, valued at approximately $83,458,561.47. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Gregory Bailey purchased 5,000 shares of Biohaven stock in a transaction on Tuesday, September 24th. The stock was bought at an average price of $44.19 per share, with a total value of $220,950.00. Following the transaction, the director now owns 1,620,071 shares of the company’s stock, valued at $71,590,937.49. The disclosure for this purchase can be found here. 16.00% of the stock is owned by company insiders.

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.