State Board of Administration of Florida Retirement System raised its position in shares of Biohaven Pharmaceutical Holding Co Ltd (NYSE:BHVN) by 24.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,913 shares of the company’s stock after purchasing an additional 3,150 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Biohaven Pharmaceutical were worth $629,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Legal & General Group Plc raised its position in shares of Biohaven Pharmaceutical by 111.3% in the 1st quarter. Legal & General Group Plc now owns 5,626 shares of the company’s stock worth $145,000 after acquiring an additional 2,963 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in shares of Biohaven Pharmaceutical by 189.2% in the 1st quarter. BNP Paribas Arbitrage SA now owns 6,299 shares of the company’s stock worth $162,000 after acquiring an additional 4,121 shares in the last quarter. Deutsche Bank AG raised its position in shares of Biohaven Pharmaceutical by 28.6% in the 4th quarter. Deutsche Bank AG now owns 23,580 shares of the company’s stock worth $635,000 after acquiring an additional 5,248 shares in the last quarter. Raymond James Financial Services Advisors Inc. bought a new position in shares of Biohaven Pharmaceutical in the 2nd quarter worth $291,000. Finally, DRW Securities LLC bought a new position in shares of Biohaven Pharmaceutical in the 1st quarter worth $232,000. 80.85% of the stock is owned by institutional investors and hedge funds.
In related news, VP Kimberly Gentile sold 12,500 shares of the business’s stock in a transaction on Friday, June 15th. The stock was sold at an average price of $40.02, for a total transaction of $500,250.00. Following the transaction, the vice president now directly owns 12,500 shares in the company, valued at approximately $500,250. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Robert Berman sold 25,845 shares of the business’s stock in a transaction on Thursday, June 7th. The stock was sold at an average price of $36.01, for a total value of $930,678.45. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 142,500 shares of company stock worth $5,214,880. 34.20% of the stock is owned by company insiders.
Shares of BHVN stock opened at $37.06 on Wednesday. Biohaven Pharmaceutical Holding Co Ltd has a 1-year low of $16.50 and a 1-year high of $44.28.
Several research analysts have recently commented on the company. Cantor Fitzgerald reissued an “overweight” rating on shares of Biohaven Pharmaceutical in a research report on Thursday, June 14th. Piper Jaffray Companies set a $48.00 price target on Biohaven Pharmaceutical and gave the stock a “buy” rating in a research report on Thursday, August 16th. ValuEngine raised Biohaven Pharmaceutical from a “hold” rating to a “buy” rating in a research report on Friday, June 1st. Canaccord Genuity reissued a “buy” rating and issued a $43.00 price target on shares of Biohaven Pharmaceutical in a research report on Friday, August 17th. Finally, Zacks Investment Research downgraded Biohaven Pharmaceutical from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 17th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $44.43.
Biohaven Pharmaceutical Profile
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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