Adage Capital Partners GP L.L.C. Sells 907,485 Shares of Biohaven Ltd. (NYSE:BHVN)

Adage Capital Partners GP L.L.C. lowered its position in Biohaven Ltd. (NYSE:BHVN - Free Report) by 61.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 575,000 shares of the company's stock after selling 907,485 shares during the quarter. Adage Capital Partners GP L.L.C. owned about 0.57% of Biohaven worth $21,476,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. HighTower Advisors LLC grew its holdings in Biohaven by 6.1% in the 4th quarter. HighTower Advisors LLC now owns 5,870 shares of the company's stock worth $219,000 after acquiring an additional 335 shares during the last quarter. Franklin Resources Inc. raised its holdings in Biohaven by 0.5% in the third quarter. Franklin Resources Inc. now owns 79,705 shares of the company's stock worth $4,206,000 after buying an additional 412 shares during the last quarter. FSC Wealth Advisors LLC raised its holdings in Biohaven by 3.3% in the fourth quarter. FSC Wealth Advisors LLC now owns 15,500 shares of the company's stock worth $579,000 after buying an additional 500 shares during the last quarter. Prudential Financial Inc. raised its holdings in Biohaven by 9.4% in the fourth quarter. Prudential Financial Inc. now owns 5,980 shares of the company's stock worth $223,000 after buying an additional 514 shares during the last quarter. Finally, 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. Hedge funds and other institutional investors own 88.78% of the company's stock.

Biohaven Price Performance

BHVN traded up $0.15 during trading on Tuesday, hitting $21.89. The company's stock had a trading volume of 2,301,613 shares, compared to its average volume of 1,147,010. Biohaven Ltd. has a twelve month low of $15.79 and a twelve month high of $55.70. The firm's 50 day moving average price is $25.73 and its 200-day moving average price is $37.08. The stock has a market cap of $2.23 billion, a PE ratio of -2.34 and a beta of 1.33.

Biohaven (NYSE:BHVN - Get Free Report) last issued its earnings results on Monday, March 3rd. The company reported ($1.85) EPS for the quarter, missing the consensus estimate of ($1.56) by ($0.29). Equities analysts anticipate that Biohaven Ltd. will post -8.9 earnings per share for the current year.

Insider Transactions at Biohaven

In related news, Director John W. Childs bought 32,700 shares of the company's stock in a transaction that occurred on Tuesday, March 4th. The shares were acquired at an average price of $30.47 per share, with a total value of $996,369.00. Following the completion of the transaction, the director now owns 2,320,571 shares of the company's stock, valued at $70,707,798.37. The trade was a 1.43 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 16.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. JPMorgan Chase & Co. lowered their target price on Biohaven from $72.00 to $68.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 5th. Morgan Stanley reduced 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. Robert W. Baird reduced their price objective on Biohaven from $60.00 to $57.00 and set an "outperform" rating on the stock in a research note on Monday. Royal Bank of Canada restated an "outperform" rating and set a $61.00 target price on shares of Biohaven in a research report on Tuesday, March 4th. Finally, William Blair upgraded Biohaven to a "strong-buy" rating in a research report on Thursday, April 24th. Fourteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $62.54.

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.