Zacks Investment Research upgraded shares of Biohaven Pharmaceutical (NYSE:BHVN) from a sell rating to a buy rating in a research report sent to investors on Tuesday morning, Zacks.com reports. The firm currently has $48.00 target price 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 also recently issued reports on the company. Cantor Fitzgerald set a $87.00 price objective on Biohaven Pharmaceutical and gave the stock a buy rating in a research report on Wednesday, September 4th. Oppenheimer set a $67.00 price objective on Biohaven Pharmaceutical and gave the stock a buy rating in a research report on Wednesday, October 9th. ValuEngine downgraded Biohaven Pharmaceutical from a buy rating to a hold rating in a research report on Wednesday, June 19th. Canaccord Genuity set a $80.00 price objective on Biohaven Pharmaceutical and gave the stock a buy rating in a research report on Monday, August 26th. Finally, Morgan Stanley set a $50.00 price objective on Biohaven Pharmaceutical and gave the stock a hold rating in a research report on Friday, August 9th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Biohaven Pharmaceutical currently has a consensus rating of Buy and a consensus target price of $69.36.
Biohaven Pharmaceutical (NYSE:BHVN) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($2.35) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($2.09) by ($0.26). Sell-side analysts predict that Biohaven Pharmaceutical will post -7.43 earnings per share for the current fiscal year.
In related news, Director Gregory Bailey acquired 5,000 shares of Biohaven Pharmaceutical stock in a transaction dated Tuesday, August 20th. The shares were purchased at an average cost of $37.65 per share, with a total value of $188,250.00. Following the completion of the purchase, the director now owns 2,587,601 shares of the company’s stock, valued at $97,423,177.65. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Eric Aguiar sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $45.00, for a total value of $450,000.00. The disclosure for this sale can be found here. Company insiders own 23.90% of the company’s stock.
Large investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC bought a new position in shares of Biohaven Pharmaceutical during the second quarter valued at about $65,000. Aperio Group LLC bought a new stake in shares of Biohaven Pharmaceutical in the second quarter worth about $71,000. Glen Harbor Capital Management LLC grew its stake in shares of Biohaven Pharmaceutical by 165.9% in the second quarter. Glen Harbor Capital Management LLC now owns 1,744 shares of the company’s stock worth $76,000 after purchasing an additional 1,088 shares during the last quarter. Canton Hathaway LLC bought a new stake in shares of Biohaven Pharmaceutical in the third quarter worth about $83,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Biohaven Pharmaceutical by 94.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,256 shares of the company’s stock worth $99,000 after purchasing an additional 1,097 shares during the last quarter. 90.93% of the stock is currently owned by hedge funds and other institutional investors.
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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