Biohaven Pharmaceutical Holding Co Ltd (NYSE:BHVN) – Stock analysts at Piper Jaffray Companies lifted their Q3 2018 earnings estimates for Biohaven Pharmaceutical in a research report issued on Wednesday, August 15th. Piper Jaffray Companies analyst T. Van. Buren now forecasts that the company will post earnings per share of ($1.00) for the quarter, up from their previous forecast of ($2.48). Piper Jaffray Companies has a “Buy” rating and a $48.00 price objective on the stock. Piper Jaffray Companies also issued estimates for Biohaven Pharmaceutical’s Q4 2018 earnings at ($0.92) EPS, FY2018 earnings at ($5.25) EPS, Q1 2019 earnings at ($1.00) EPS, Q2 2019 earnings at ($1.10) EPS, Q3 2019 earnings at ($1.15) EPS, Q4 2019 earnings at ($1.40) EPS, FY2019 earnings at ($4.65) EPS, FY2020 earnings at ($4.30) EPS, FY2021 earnings at ($1.90) EPS and FY2022 earnings at $1.15 EPS.
A number of other equities analysts also recently issued reports on the stock. Canaccord Genuity reiterated a “buy” rating and issued a $43.00 price target on shares of Biohaven Pharmaceutical in a report on Friday. Needham & Company LLC reiterated a “buy” rating and issued a $48.00 price target on shares of Biohaven Pharmaceutical in a report on Friday. Zacks Investment Research downgraded shares of Biohaven Pharmaceutical from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 14th. Morgan Stanley increased their price target on shares of Biohaven Pharmaceutical from $39.00 to $44.00 and gave the company an “overweight” rating in a report on Friday, July 13th. Finally, Cantor Fitzgerald increased their price target on shares of Biohaven Pharmaceutical from $42.00 to $50.00 and gave the company an “overweight” rating in a report on Thursday, July 12th. Two analysts have rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $43.71.
Shares of BHVN opened at $34.86 on Monday. The stock has a market capitalization of $1.31 billion, a PE ratio of -6.97 and a beta of 1.35. Biohaven Pharmaceutical has a 52-week low of $16.50 and a 52-week high of $44.28.
In related news, VP Kimberly Gentile sold 12,500 shares of the stock in a transaction dated Friday, June 15th. The shares were sold at an average price of $40.02, for a total value of $500,250.00. Following the sale, the vice president now directly owns 12,500 shares of the company’s stock, valued at approximately $500,250. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Declan Doogan sold 842 shares of the stock in a transaction dated Wednesday, May 30th. The shares were sold at an average price of $35.00, for a total transaction of $29,470.00. Following the completion of the sale, the director now directly owns 463,913 shares in the company, valued at $16,236,955. The disclosure for this sale can be found here. Over the last three months, insiders sold 406,245 shares of company stock worth $14,479,071. 34.20% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of BHVN. FMR LLC grew its stake in Biohaven Pharmaceutical by 166.6% in the 2nd quarter. FMR LLC now owns 1,354,064 shares of the company’s stock valued at $53,513,000 after acquiring an additional 846,141 shares during the last quarter. BlackRock Inc. grew its stake in Biohaven Pharmaceutical by 63.6% in the 1st quarter. BlackRock Inc. now owns 1,888,608 shares of the company’s stock valued at $48,650,000 after acquiring an additional 734,401 shares during the last quarter. Foresite Capital Management IV LLC grew its stake in Biohaven Pharmaceutical by 298.8% in the 1st quarter. Foresite Capital Management IV LLC now owns 851,200 shares of the company’s stock valued at $21,927,000 after acquiring an additional 637,765 shares during the last quarter. Northern Trust Corp grew its stake in Biohaven Pharmaceutical by 158.5% in the 1st quarter. Northern Trust Corp now owns 303,830 shares of the company’s stock valued at $7,827,000 after acquiring an additional 186,274 shares during the last quarter. Finally, ARS Investment Partners LLC grew its stake in Biohaven Pharmaceutical by 144.8% in the 1st quarter. ARS Investment Partners LLC now owns 260,255 shares of the company’s stock valued at $6,704,000 after acquiring an additional 153,943 shares during the last quarter. 77.44% of the stock is currently owned by hedge funds and other institutional investors.
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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