Biohaven Pharmaceutical (NYSE:BHVN) Downgraded to Sell at ValuEngine

ValuEngine cut shares of Biohaven Pharmaceutical (NYSE:BHVN) from a hold rating to a sell rating in a research note published on Thursday morning, ValuEngine reports.

Several other equities analysts have also recently commented on BHVN. William Blair restated a buy rating on shares of Biohaven Pharmaceutical in a report on Tuesday, September 17th. Zacks Investment Research cut shares of Biohaven Pharmaceutical from a buy rating to a hold rating in a report on Monday, October 21st. Cantor Fitzgerald boosted their price target on shares of Biohaven Pharmaceutical from $87.00 to $92.00 and gave the company an overweight rating in a report on Monday, October 28th. Canaccord Genuity set a $80.00 price target on shares of Biohaven Pharmaceutical and gave the company a buy rating in a report on Monday, August 26th. Finally, Goldman Sachs Group set a $89.00 price target on shares of Biohaven Pharmaceutical and gave the company a buy rating in a report on Wednesday, September 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. Biohaven Pharmaceutical has a consensus rating of Buy and a consensus target price of $71.80.

NYSE BHVN traded up $2.06 on Thursday, hitting $51.08. 884,600 shares of the stock were exchanged, compared to its average volume of 707,075. Biohaven Pharmaceutical has a 52-week low of $29.17 and a 52-week high of $67.86. The company has a market capitalization of $2.56 billion, a price-to-earnings ratio of -8.31 and a beta of 0.34. The company’s 50-day moving average price is $45.01 and its two-hundred day moving average price is $47.68.

Biohaven Pharmaceutical (NYSE:BHVN) last posted its quarterly earnings data on Friday, November 1st. The company reported ($2.04) earnings per share for the quarter, missing the consensus estimate of ($1.57) by ($0.47). Equities analysts forecast that Biohaven Pharmaceutical will post -7.63 EPS for the current fiscal year.

In related news, insider Elyse Stock sold 17,700 shares of the company’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $45.07, for a total value of $797,739.00. Following the completion of the sale, the insider now directly owns 17,700 shares in the company, valued at $797,739. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gregory Bailey acquired 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The stock was acquired at an average price of $37.65 per share, with a total value of $188,250.00. Following the completion of the acquisition, the director now directly owns 2,587,601 shares of the company’s stock, valued at approximately $97,423,177.65. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 28,500 shares of company stock worth $1,283,747. 23.90% of the stock is currently owned by corporate insiders.

A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Biohaven Pharmaceutical by 34.2% in the second quarter. Vanguard Group Inc. now owns 1,154,257 shares of the company’s stock worth $50,545,000 after purchasing an additional 294,098 shares in the last quarter. Brown Advisory Inc. boosted its holdings in Biohaven Pharmaceutical by 60.7% in the second quarter. Brown Advisory Inc. now owns 1,008,046 shares of the company’s stock worth $44,144,000 after purchasing an additional 380,764 shares in the last quarter. Eagle Asset Management Inc. boosted its holdings in Biohaven Pharmaceutical by 0.3% in the third quarter. Eagle Asset Management Inc. now owns 984,335 shares of the company’s stock worth $41,066,000 after purchasing an additional 2,939 shares in the last quarter. Nuveen Asset Management LLC bought a new stake in Biohaven Pharmaceutical in the second quarter worth $38,799,000. Finally, Bank of New York Mellon Corp boosted its holdings in Biohaven Pharmaceutical by 236.8% in the second quarter. Bank of New York Mellon Corp now owns 545,594 shares of the company’s stock worth $23,892,000 after purchasing an additional 383,594 shares in the last quarter. Hedge funds and other institutional investors own 88.91% of the company’s stock.

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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