Zacks Investment Research upgraded shares of Biohaven Pharmaceutical (NYSE:BHVN) from a hold rating to a buy rating in a research note published on Tuesday morning, Zacks.com reports. Zacks Investment Research currently has $47.00 price objective on the stock.
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. “
A number of other equities research analysts have also recently commented on the stock. Svb Leerink raised their price objective on shares of Biohaven Pharmaceutical from $50.00 to $67.00 and gave the stock an outperform rating in a research note on Tuesday, April 23rd. Canaccord Genuity reissued an average rating on shares of Kellogg in a research note on Tuesday, June 25th. Morgan Stanley set a $61.00 price target on shares of Walgreens Boots Alliance and gave the company a hold rating in a research note on Tuesday, May 14th. Oppenheimer set a $68.00 price target on shares of Biohaven Pharmaceutical and gave the company a buy rating in a research note on Wednesday, June 19th. Finally, Goldman Sachs Group set a €75.30 ($87.56) price target on shares of Stroeer SE & Co KGaA and gave the company a buy rating in a research note on Monday, May 6th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of $70.18.
Biohaven Pharmaceutical (NYSE:BHVN) last issued its quarterly earnings data on Tuesday, May 7th. The company reported ($1.41) EPS for the quarter, topping analysts’ consensus estimates of ($1.50) by $0.09. During the same quarter last year, the firm posted ($2.32) EPS. Research analysts forecast that Biohaven Pharmaceutical will post -6.32 earnings per share 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO James Engelhart bought 2,500 shares of the stock in a transaction on Thursday, June 27th. The shares were acquired at an average cost of $43.05 per share, for a total transaction of $107,625.00. The disclosure for this purchase can be found here. Insiders purchased a total of 17,500 shares of company stock worth $712,425 in the last three months. 23.90% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Blueshift Asset Management LLC acquired a new stake in Biohaven Pharmaceutical during the 4th quarter worth $306,000. EAM Global Investors LLC acquired a new stake in Biohaven Pharmaceutical during the 1st quarter worth $2,174,000. Pier Capital LLC acquired a new stake in Biohaven Pharmaceutical during the 1st quarter worth $3,541,000. Millennium Management LLC boosted its stake in Biohaven Pharmaceutical by 12.4% during the 4th quarter. Millennium Management LLC now owns 40,439 shares of the company’s stock worth $1,495,000 after purchasing an additional 4,448 shares during the last quarter. Finally, Flinton Capital Management LLC acquired a new stake in Biohaven Pharmaceutical during the 4th quarter worth $42,000. 90.39% of the stock is currently owned by institutional investors.
Biohaven Pharmaceutical Company Profile
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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