Morgan Stanley Reiterates Buy Rating for Biohaven Pharmaceutical (BHVN)
Biohaven Pharmaceutical (NYSE:BHVN)‘s stock had its “buy” rating reissued by stock analysts at Morgan Stanley in a research report issued to clients and investors on Thursday. They presently have a $47.00 price objective on the stock. Morgan Stanley’s price objective suggests a potential upside of 26.45% from the stock’s previous close.
Other analysts have also issued research reports about the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of Biohaven Pharmaceutical in a research note on Thursday, June 14th. Piper Jaffray Companies set a $48.00 price objective on shares of Biohaven Pharmaceutical and gave the company a “buy” rating in a research note on Thursday, August 16th. Zacks Investment Research lowered shares of Biohaven Pharmaceutical from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 17th. Canaccord Genuity set a $40.00 price objective on shares of Biohaven Pharmaceutical and gave the company a “buy” rating in a research note on Sunday, July 1st. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $48.00 price objective on shares of Biohaven Pharmaceutical in a research note on Friday, August 17th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company. Biohaven Pharmaceutical has a consensus rating of “Hold” and an average target price of $47.57.
NYSE:BHVN opened at $37.17 on Thursday. The firm has a market capitalization of $1.51 billion, a PE ratio of -7.41 and a beta of 1.47. Biohaven Pharmaceutical has a twelve month low of $16.50 and a twelve month high of $44.28.
A number of hedge funds and other institutional investors have recently bought and sold shares of BHVN. Legal & General Group Plc grew its position in Biohaven Pharmaceutical by 111.3% in the 1st quarter. Legal & General Group Plc now owns 5,626 shares of the company’s stock valued at $145,000 after purchasing an additional 2,963 shares during the period. BNP Paribas Arbitrage SA grew its position in Biohaven Pharmaceutical by 189.2% in the 1st quarter. BNP Paribas Arbitrage SA now owns 6,299 shares of the company’s stock valued at $162,000 after purchasing an additional 4,121 shares during the period. SG Americas Securities LLC acquired a new stake in Biohaven Pharmaceutical in the 2nd quarter valued at $191,000. Quantitative Systematic Strategies LLC acquired a new stake in Biohaven Pharmaceutical in the 2nd quarter valued at $205,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new stake in Biohaven Pharmaceutical in the 2nd quarter valued at $291,000. 80.85% of the stock is owned by institutional investors and hedge funds.
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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