Nicholas Investment Partners LP Sells 136,697 Shares of Biohaven Ltd. (NYSE:BHVN)

Nicholas Investment Partners LP cut its position in shares of Biohaven Ltd. (NYSE:BHVN) by 74.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 45,966 shares of the company’s stock after selling 136,697 shares during the period. Nicholas Investment Partners LP owned about 0.05% of Biohaven worth $1,595,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Prevail Innovative Wealth Advisors LLC bought a new stake in Biohaven in the fourth quarter valued at $230,000. Private Advisor Group LLC bought a new stake in Biohaven in the fourth quarter valued at $231,000. Capstone Investment Advisors LLC bought a new stake in Biohaven in the fourth quarter valued at $235,000. Cypress Wealth Services LLC bought a new stake in shares of Biohaven during the first quarter worth $326,000. Finally, DNB Asset Management AS bought a new stake in shares of Biohaven during the second quarter worth $285,000. 88.78% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director John W. Childs purchased 28,400 shares of the firm’s stock in a transaction on Thursday, July 18th. The stock was purchased at an average cost of $35.67 per share, for a total transaction of $1,013,028.00. Following the completion of the purchase, the director now directly owns 2,339,741 shares in the company, valued at $83,458,561.47. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 16.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. William Blair upgraded Biohaven to a “strong-buy” rating in a report on Friday, August 30th. Morgan Stanley assumed coverage on Biohaven in a report on Wednesday, July 24th. They set an “overweight” rating and a $58.00 target price on the stock. HC Wainwright restated a “buy” rating and set a $59.00 target price on shares of Biohaven in a report on Thursday, May 30th. UBS Group decreased their target price on Biohaven from $55.00 to $54.00 and set a “buy” rating on the stock in a report on Tuesday, August 13th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $59.00 target price on shares of Biohaven in a report on Wednesday, September 4th. Ten research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $54.44.

Biohaven Price Performance

NYSE BHVN opened at $35.75 on Friday. The firm has a market cap of $3.16 billion, a P/E ratio of -5.23 and a beta of 1.30. The stock’s 50-day moving average is $37.95 and its 200-day moving average is $41.48. Biohaven Ltd. has a one year low of $16.45 and a one year high of $62.21.

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

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.