Zacks Investment Research cut shares of Biohaven Pharmaceutical (NYSE:BHVN) from a strong-buy rating to a hold rating in a research report report published on Tuesday.
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. “
BHVN has been the topic of several other reports. Canaccord Genuity set a $39.00 target price on Biohaven Pharmaceutical and gave the stock a buy rating in a research note on Wednesday, March 7th. Needham & Company LLC reissued a buy rating on shares of Biohaven Pharmaceutical in a research note on Thursday, February 22nd. Piper Jaffray reissued a buy rating on shares of Biohaven Pharmaceutical in a research note on Monday, March 26th. Finally, Barclays cut Biohaven Pharmaceutical from an overweight rating to an equal weight rating and cut their target price for the stock from $30.00 to $25.00 in a research note on Thursday, April 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $37.14.
NYSE BHVN opened at $27.18 on Tuesday. The stock has a market capitalization of $994.09 and a P/E ratio of -5.44. Biohaven Pharmaceutical has a 1 year low of $16.50 and a 1 year high of $39.51.
Biohaven Pharmaceutical (NYSE:BHVN) last posted its earnings results on Tuesday, March 6th. The company reported ($0.75) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.33) by $0.58. analysts predict that Biohaven Pharmaceutical will post -4.34 EPS for the current fiscal year.
In other Biohaven Pharmaceutical news, insider Robert Berman sold 35,000 shares of the firm’s stock in a transaction dated Tuesday, April 10th. The shares were sold at an average price of $24.66, for a total value of $863,100.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Kimberly Gentile sold 5,000 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $32.78, for a total transaction of $163,900.00. Following the completion of the sale, the vice president now owns 5,000 shares of the company’s stock, valued at $163,900. The disclosure for this sale can be found here. Insiders sold 224,538 shares of company stock valued at $6,843,565 over the last 90 days. 34.20% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Legal & General Group Plc purchased a new stake in Biohaven Pharmaceutical in the third quarter worth about $119,000. Nationwide Fund Advisors purchased a new stake in Biohaven Pharmaceutical in the third quarter worth about $214,000. American International Group Inc. purchased a new stake in Biohaven Pharmaceutical in the third quarter worth about $251,000. Susquehanna International Group LLP purchased a new stake in Biohaven Pharmaceutical in the third quarter worth about $302,000. Finally, Endurant Capital Management LP purchased a new stake in Biohaven Pharmaceutical in the fourth quarter worth about $278,000. Institutional investors and hedge funds own 61.84% of the company’s stock.
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Biohaven Pharmaceutical Company Profile
Biohaven Pharmaceutical Holding Company Ltd., a clinical-stage biopharmaceutical company, develops product candidates to treat neurological diseases, including rare disorders. Its lead product candidate is rimegepant, which is in Phase III clinical trials for the acute treatment of migraine. The company also develops trigriluzole, which is in a Phase II/III clinical trial used for the treatment of ataxias with an initial focus on spinocerebellar ataxia; and Phase II/III clinical trial for the treatment of obsessive compulsive disorders, as well as for the treatment of Alzheimer's diseases.
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