Biohaven Pharmaceutical (BHVN) Given a $48.00 Price Target by Piper Jaffray Companies Analysts
A number of other research analysts have also recently issued reports on BHVN. Canaccord Genuity set a $34.00 target price on Biohaven Pharmaceutical and gave the company a buy rating in a research report on Friday, April 27th. ValuEngine upgraded Biohaven Pharmaceutical from a sell rating to a hold rating in a research report on Wednesday, May 2nd. Zacks Investment Research cut Biohaven Pharmaceutical from a hold rating to a sell rating in a research report on Wednesday, May 16th. Needham & Company LLC reiterated a buy rating and issued a $36.00 target price on shares of Biohaven Pharmaceutical in a research report on Wednesday, May 16th. Finally, Cantor Fitzgerald initiated coverage on Biohaven Pharmaceutical in a research report on Monday, June 11th. They issued a buy rating and a $42.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company’s stock. Biohaven Pharmaceutical has a consensus rating of Buy and a consensus target price of $43.29.
Biohaven Pharmaceutical stock traded down $0.28 during midday trading on Thursday, reaching $34.82. The company’s stock had a trading volume of 2,334 shares, compared to its average volume of 549,668. Biohaven Pharmaceutical has a 52 week low of $16.50 and a 52 week high of $44.28. The stock has a market cap of $1.31 billion, a PE ratio of -7.05 and a beta of 1.35.
In other news, CEO Vlad Coric sold 50,000 shares of the business’s stock in a transaction dated Friday, June 1st. The stock was sold at an average price of $35.02, for a total transaction of $1,751,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Declan Doogan sold 842 shares of the business’s stock in a transaction dated Wednesday, May 30th. The stock was sold at an average price of $35.00, for a total value of $29,470.00. Following the sale, the director now owns 463,913 shares in the company, valued at $16,236,955. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 406,245 shares of company stock worth $14,479,071. Company insiders own 34.20% of the company’s stock.
A number of hedge funds have recently made changes to their positions in BHVN. Legal & General Group Plc boosted its holdings in Biohaven Pharmaceutical by 111.3% in the first quarter. Legal & General Group Plc now owns 5,626 shares of the company’s stock valued at $145,000 after acquiring an additional 2,963 shares during the last quarter. BNP Paribas Arbitrage SA boosted its holdings in Biohaven Pharmaceutical by 189.2% in the first quarter. BNP Paribas Arbitrage SA now owns 6,299 shares of the company’s stock valued at $162,000 after acquiring an additional 4,121 shares during the last quarter. SG Americas Securities LLC bought a new stake in Biohaven Pharmaceutical in the second quarter valued at approximately $191,000. Quantitative Systematic Strategies LLC bought a new stake in Biohaven Pharmaceutical in the second quarter valued at approximately $205,000. Finally, DRW Securities LLC bought a new stake in Biohaven Pharmaceutical in the first quarter valued at approximately $232,000. Institutional investors and hedge funds own 77.44% 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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