Biohaven Pharmaceutical (NYSE:BHVN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday, Zacks.com reports. The brokerage presently has a $47.00 price objective on the stock. Zacks Investment Research‘s target price would suggest a potential upside of 9.07% from the stock’s current price.
According to Zacks, “Biohaven Pharmaceutical Holding Company Ltd. is a biopharmaceutical company. It focuses on the identification and development of orphan neurologic indications and other neurological pathways. The company’s pipeline includes BHV-0223, which is a formulation of a glutamate-modulating agent; BHV-4157, which is a new chemical entity that modulates glutamate and BHV-5000, which is an in-licensed investigational agent of the Company targeting N-Methyl-D-Aspartate receptor antagonism which are in clinical trial stage. Biohaven Pharmaceutical Holding Company Ltd. is based in NEW HAVEN, United States. “
Several other analysts also recently issued reports on the company. Canaccord Genuity restated an “average” rating on shares of Kellogg in a report on Tuesday, June 25th. Barclays set a $145.00 price objective on Sanderson Farms and gave the stock a “hold” rating in a report on Friday, May 31st. Needham & Company LLC cut their price objective on 2U to $75.00 and set a “buy” rating on the stock in a report on Wednesday, May 8th. Goldman Sachs Group set a €75.30 ($87.56) price objective on Stroeer SE & Co KGaA and gave the stock a “buy” rating in a report on Monday, May 6th. Finally, Morgan Stanley set a $61.00 price objective on Walgreens Boots Alliance and gave the stock a “hold” rating in a report on Tuesday, May 14th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $70.18.
BHVN stock traded down $0.62 during trading on Tuesday, hitting $43.09. The company had a trading volume of 39,015 shares, compared to its average volume of 744,968. The company has a market capitalization of $1.92 billion, a price-to-earnings ratio of -7.01 and a beta of 0.26. The firm has a 50 day moving average price of $52.32. Biohaven Pharmaceutical has a fifty-two week low of $29.17 and a fifty-two week high of $67.86.
Biohaven Pharmaceutical (NYSE:BHVN) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($1.41) earnings per share for the quarter, topping the consensus estimate of ($1.50) by $0.09. During the same quarter last year, the company posted ($2.32) earnings per share. Analysts anticipate that Biohaven Pharmaceutical will post -6.32 EPS for the current fiscal year.
In other Biohaven Pharmaceutical news, CEO Vlad Coric bought 5,000 shares of the stock in a transaction on Wednesday, June 26th. The shares were bought at an average price of $40.22 per share, with a total value of $201,100.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Declan Doogan sold 88,825 shares of Biohaven Pharmaceutical stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $58.42, for a total value of $5,189,156.50. Following the transaction, the director now directly owns 373,913 shares in the company, valued at approximately $21,843,997.46. The disclosure for this sale can be found here. In the last ninety days, insiders have acquired 17,500 shares of company stock worth $712,425. Company insiders own 23.90% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Blueshift Asset Management LLC bought a new stake in shares of Biohaven Pharmaceutical in the 4th quarter valued at approximately $306,000. EAM Global Investors LLC bought a new stake in shares of Biohaven Pharmaceutical in the 1st quarter valued at approximately $2,174,000. Pier Capital LLC bought a new stake in shares of Biohaven Pharmaceutical in the 1st quarter valued at approximately $3,541,000. Millennium Management LLC grew its stake in shares of Biohaven Pharmaceutical by 12.4% in the 4th quarter. Millennium Management LLC now owns 40,439 shares of the company’s stock valued at $1,495,000 after buying an additional 4,448 shares in the last quarter. Finally, Flinton Capital Management LLC bought a new stake in Biohaven Pharmaceutical during the fourth quarter worth approximately $42,000. 90.39% of the stock is owned by institutional investors and hedge funds.
About Biohaven Pharmaceutical
Biohaven Pharmaceutical Holding Company Ltd., a clinical-stage biopharmaceutical company, develops late-stage products candidates targeting neurological diseases in the United States. Its clinical stage products include Rimegepant, a product that has completed phase III trials and is in long-term safety ongoing process for acute treatment and prevention of migraine; BHV-3500 that has completed phase I clinical trial for acute treatment and prevention of migraine; and Troriluzole that has completed II/III randomization phase and is ongoing extension trial for ataxias.
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