Tri Locum Partners LP Sells 52,975 Shares of Biohaven Ltd. (NYSE:BHVN)

Tri Locum Partners LP cut its stake in shares of Biohaven Ltd. (NYSE:BHVN - Free Report) by 27.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 140,220 shares of the company's stock after selling 52,975 shares during the period. Biohaven accounts for 1.1% of Tri Locum Partners LP's holdings, making the stock its 25th largest position. Tri Locum Partners LP owned about 0.14% of Biohaven worth $5,237,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the stock. Hsbc Holdings PLC lifted its position in Biohaven by 10.8% during the fourth quarter. Hsbc Holdings PLC now owns 10,361 shares of the company's stock worth $380,000 after acquiring an additional 1,006 shares during the last quarter. Rock Springs Capital Management LP lifted its position in Biohaven by 1.8% during the fourth quarter. Rock Springs Capital Management LP now owns 129,858 shares of the company's stock worth $4,850,000 after acquiring an additional 2,300 shares during the last quarter. Stifel Financial Corp raised its position in shares of Biohaven by 0.8% in the fourth quarter. Stifel Financial Corp now owns 6,559,313 shares of the company's stock valued at $244,990,000 after buying an additional 50,052 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of Biohaven by 2,952.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 12,180 shares of the company's stock valued at $455,000 after buying an additional 11,781 shares in the last quarter. Finally, MetLife Investment Management LLC raised its position in shares of Biohaven by 19.0% in the fourth quarter. MetLife Investment Management LLC now owns 51,737 shares of the company's stock valued at $1,932,000 after buying an additional 8,248 shares in the last quarter. 88.78% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director John W. Childs acquired 32,700 shares of the stock in a transaction dated Tuesday, March 4th. The stock was bought at an average cost of $30.47 per share, for a total transaction of $996,369.00. Following the completion of the transaction, the director now directly 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 16.00% of the company's stock.

Biohaven Stock Up 0.7 %

Shares of NYSE BHVN traded up $0.15 during midday trading on Tuesday, reaching $21.89. 2,301,613 shares of the company were exchanged, compared to its average volume of 1,147,010. The stock'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 P/E ratio of -2.34 and a beta of 1.33. Biohaven Ltd. has a one year low of $15.79 and a one year high of $55.70.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on BHVN. Royal Bank of Canada reiterated an "outperform" rating and issued a $61.00 price target on shares of Biohaven in a research report on Tuesday, March 4th. HC Wainwright reiterated a "buy" rating and issued a $54.00 price target on shares of Biohaven in a research report on Tuesday, March 4th. William Blair upgraded shares of Biohaven to a "strong-buy" rating in a research report on Thursday, April 24th. Morgan Stanley dropped their price target on shares of Biohaven from $69.00 to $63.00 and set an "overweight" rating for the company in a research report on Friday, March 7th. Finally, JPMorgan Chase & Co. dropped their price target 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. Fourteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $62.54.

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.