Biohaven Pharmaceutical (BHVN) Upgraded to Buy by Zacks Investment Research
Zacks Investment Research upgraded shares of Biohaven Pharmaceutical (NYSE:BHVN) from a hold rating to a buy rating in a report published on Monday morning. The firm currently has $25.00 price objective on the stock.
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. “
A number of other research firms have also weighed in on BHVN. BidaskClub upgraded shares of Biohaven Pharmaceutical from a buy rating to a strong-buy rating in a research report on Thursday, September 7th. Needham & Company LLC reiterated a buy rating and issued a $43.00 price target (up from $30.00) on shares of Biohaven Pharmaceutical in a research report on Wednesday, September 13th. Piper Jaffray Companies reiterated a buy rating and issued a $54.00 price target on shares of Biohaven Pharmaceutical in a research report on Tuesday, September 12th. Morgan Stanley upped their price target on shares of Biohaven Pharmaceutical from $28.00 to $47.00 and gave the stock an overweight rating in a research report on Monday, September 25th. Finally, William Blair reissued an outperform rating on shares of Biohaven Pharmaceutical in a report on Tuesday, October 3rd. One research analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $38.17.
Biohaven Pharmaceutical (NYSE BHVN) traded up $0.35 on Monday, hitting $20.79. 391,400 shares of the company’s stock were exchanged, compared to its average volume of 218,611. Biohaven Pharmaceutical has a fifty-two week low of $17.00 and a fifty-two week high of $39.51.
In other news, insider John Tilton sold 30,000 shares of the business’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $29.25, for a total value of $877,500.00. Following the transaction, the insider now owns 30,000 shares of the company’s stock, valued at $877,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Vlad Coric sold 150,000 shares of the business’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $29.41, for a total transaction of $4,411,500.00. The disclosure for this sale can be found here. Insiders sold 439,131 shares of company stock worth $12,011,701 in the last three months.
Several hedge funds have recently added to or reduced their stakes in BHVN. Deschutes Portfolio Strategy LLC purchased a new position in shares of Biohaven Pharmaceutical in the third quarter worth $374,000. Strs Ohio purchased a new stake in Biohaven Pharmaceutical during the third quarter valued at $680,000. Nationwide Fund Advisors purchased a new stake in Biohaven Pharmaceutical during the third quarter valued at $214,000. Emerald Advisers Inc. PA purchased a new stake in Biohaven Pharmaceutical during the third quarter valued at $9,096,000. Finally, Emerald Mutual Fund Advisers Trust purchased a new stake in Biohaven Pharmaceutical during the third quarter valued at $7,483,000. 47.76% of the stock is currently owned by hedge funds and other institutional investors.
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Biohaven Pharmaceutical Company Profile
Biohaven Pharmaceutical Holding Company Ltd. is a United States-based biopharmaceutical company. The Company is engaged in the identification and development of clinical-stage compounds targeting orphan neurologic indications and other neurological pathways. It has a portfolio of multiple late-stage drug candidates.
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