Biohaven Pharmaceutical’s (BHVN) Buy Rating Reiterated at Cantor Fitzgerald
Cantor Fitzgerald restated their buy rating on shares of Biohaven Pharmaceutical (NYSE:BHVN) in a research note issued to investors on Monday morning. Cantor Fitzgerald currently has a $65.00 price objective on the stock.
“. We reiterate our Overweight rating and raise our PT to $65 from $55 on shares of BHVN. This morning, Biohaven announced positive topline data from a P3 trial with the ODT formulation of rimegepant, demonstrating that the PK benefit of a faster Tmax translated to therapeutic benefit of more rapid onset for ODT rime’ vs the tablet. These results exceed our expectations because, although the PK set-up was positive, we had been concerned that the ability to differentiate clinically may have been a challenge. Therefore, our base case was the ODT version of rime’ was going to be simply a convenience play”, not a clinical efficacy play”.”,” the firm’s analyst commented.
Several other research analysts have also commented on the stock. Morgan Stanley restated a buy rating and issued a $47.00 price target on shares of Biohaven Pharmaceutical in a report on Thursday, October 11th. Needham & Company LLC restated a buy rating and issued a $48.00 price target on shares of Biohaven Pharmaceutical in a report on Friday, August 17th. Piper Jaffray Companies set a $65.00 price target on shares of Biohaven Pharmaceutical and gave the company a buy rating in a report on Wednesday, September 12th. Zacks Investment Research lowered shares of Biohaven Pharmaceutical from a hold rating to a sell rating in a report on Tuesday, October 16th. Finally, Leerink Swann initiated coverage on shares of Biohaven Pharmaceutical in a report on Monday, November 12th. They issued an outperform rating and a $50.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average target price of $50.44.
Biohaven Pharmaceutical (NYSE:BHVN) last released its earnings results on Wednesday, November 14th. The company reported ($1.53) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.05) by ($0.48). On average, equities research analysts expect that Biohaven Pharmaceutical will post -6.07 EPS for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of BHVN. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Biohaven Pharmaceutical during the second quarter valued at approximately $291,000. State Board of Administration of Florida Retirement System raised its stake in shares of Biohaven Pharmaceutical by 24.7% during the second quarter. State Board of Administration of Florida Retirement System now owns 15,913 shares of the company’s stock valued at $629,000 after purchasing an additional 3,150 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Biohaven Pharmaceutical by 16.8% during the second quarter. Bank of New York Mellon Corp now owns 141,762 shares of the company’s stock valued at $5,603,000 after purchasing an additional 20,364 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Biohaven Pharmaceutical during the second quarter valued at approximately $191,000. Finally, Quantitative Systematic Strategies LLC purchased a new stake in shares of Biohaven Pharmaceutical during the second quarter valued at approximately $205,000. Hedge funds and other institutional investors own 77.63% 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.
Further Reading: Growth Stocks
Receive News & Ratings for Biohaven Pharmaceutical Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Biohaven Pharmaceutical and related companies with MarketBeat.com's FREE daily email newsletter.