ValuEngine upgraded shares of Biohaven Pharmaceutical (NYSE:BHVN) from a hold rating to a buy rating in a research note issued to investors on Monday, February 4th.
Other equities research analysts also recently issued reports about the stock. Cantor Fitzgerald restated a buy rating and issued a $57.00 price target on shares of Biohaven Pharmaceutical in a research note on Friday, October 12th. Piper Jaffray Companies reiterated a buy rating and set a $65.00 target price on shares of Biohaven Pharmaceutical in a research report on Wednesday, October 24th. Oppenheimer cut their target price on shares of Biohaven Pharmaceutical from $63.00 to $54.00 and set an outperform rating on the stock in a research report on Friday, December 28th. Finally, William Blair reiterated an outperform rating on shares of Biohaven Pharmaceutical in a research report on Thursday, November 15th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Biohaven Pharmaceutical presently has an average rating of Buy and a consensus target price of $51.33.
BHVN stock traded up $3.86 during mid-day trading on Monday, hitting $47.84. The stock had a trading volume of 976,610 shares, compared to its average volume of 410,437. Biohaven Pharmaceutical has a 52 week low of $16.50 and a 52 week high of $48.50. The firm has a market cap of $1.93 billion, a P/E ratio of -7.79 and a beta of 0.38.
In other news, insider John Tilton sold 10,500 shares of the business’s stock in a transaction that occurred on Thursday, January 10th. The shares were sold at an average price of $37.67, for a total value of $395,535.00. Following the transaction, the insider now owns 10,500 shares in the company, valued at approximately $395,535. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Declan Doogan sold 50,595 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $47.17, for a total transaction of $2,386,566.15. Following the completion of the transaction, the director now owns 394,083 shares in the company, valued at approximately $18,588,895.11. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 142,218 shares of company stock worth $6,389,294. 34.20% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. lifted its position in shares of Biohaven Pharmaceutical by 3.7% in the 3rd quarter. BlackRock Inc. now owns 2,167,762 shares of the company’s stock worth $81,400,000 after purchasing an additional 77,374 shares during the period. Sofinnova Ventures Inc bought a new stake in shares of Biohaven Pharmaceutical in the 3rd quarter valued at $4,996,000. Emerald Mutual Fund Advisers Trust increased its stake in shares of Biohaven Pharmaceutical by 2.4% in the 4th quarter. Emerald Mutual Fund Advisers Trust now owns 480,318 shares of the company’s stock valued at $17,762,000 after acquiring an additional 11,425 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Biohaven Pharmaceutical in the 3rd quarter valued at $2,816,000. Finally, JPMorgan Chase & Co. increased its stake in shares of Biohaven Pharmaceutical by 7.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,532,361 shares of the company’s stock valued at $57,540,000 after acquiring an additional 105,913 shares in the last quarter. Hedge funds and other institutional investors own 76.90% of the company’s stock.
About Biohaven Pharmaceutical
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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