Biohaven Pharmaceutical (NYSE:BHVN) Rating Lowered to Hold at Zacks Investment Research

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Zacks Investment Research downgraded shares of Biohaven Pharmaceutical (NYSE:BHVN) from a buy rating to a hold rating in a research note issued to investors on Friday, Zacks.com reports.

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 analysts have also commented on the company. Canaccord Genuity reaffirmed an average rating on shares of Kellogg in a research report on Tuesday, June 25th. Morgan Stanley set a $70.00 target price on Edison International and gave the company a hold rating in a research report on Monday, July 15th. Barclays set a $145.00 target price on Sanderson Farms and gave the company a hold rating in a research report on Friday, May 31st. Needham & Company LLC decreased their target price on 2U to $75.00 and set a buy rating for the company in a research report on Wednesday, May 8th. Finally, Oppenheimer set a $68.00 target price on Biohaven Pharmaceutical and gave the company a buy rating in a research report on Wednesday, June 19th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Biohaven Pharmaceutical currently has an average rating of Buy and a consensus target price of $69.64.

Shares of Biohaven Pharmaceutical stock opened at $45.25 on Friday. Biohaven Pharmaceutical has a one year low of $29.17 and a one year high of $67.86. The company has a market cap of $1.96 billion, a price-to-earnings ratio of -7.36 and a beta of 0.26. The company has a 50-day moving average price of $48.58.

Biohaven Pharmaceutical (NYSE:BHVN) last issued its earnings results on Tuesday, May 7th. The company reported ($1.41) EPS for the quarter, beating analysts’ consensus estimates of ($1.50) by $0.09. During the same period in the prior year, the business earned ($2.32) earnings per share. As a group, research analysts forecast that Biohaven Pharmaceutical will post -6.33 EPS for the current year.

In related news, CFO James Engelhart acquired 2,500 shares of the firm’s stock in a transaction on Thursday, June 27th. The stock was purchased at an average cost of $43.05 per share, with a total value of $107,625.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John W. Childs acquired 10,000 shares of the firm’s stock in a transaction on Wednesday, June 26th. The shares were bought at an average cost of $40.37 per share, with a total value of $403,700.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 17,500 shares of company stock valued at $712,425 over the last three months. Corporate insiders own 23.90% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Manchester Capital Management LLC purchased a new position in shares of Biohaven Pharmaceutical in the 1st quarter worth approximately $52,000. NumerixS Investment Technologies Inc boosted its stake in shares of Biohaven Pharmaceutical by 333.3% in the 1st quarter. NumerixS Investment Technologies Inc now owns 2,600 shares of the company’s stock worth $134,000 after buying an additional 2,000 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Biohaven Pharmaceutical by 14.1% in the 4th quarter. Legal & General Group Plc now owns 5,284 shares of the company’s stock worth $196,000 after buying an additional 652 shares during the last quarter. Xact Kapitalforvaltning AB purchased a new position in shares of Biohaven Pharmaceutical in the 2nd quarter worth approximately $320,000. Finally, BNP Paribas Arbitrage SA purchased a new position in shares of Biohaven Pharmaceutical in the 1st quarter worth approximately $335,000. Hedge funds and other institutional investors own 90.74% of the company’s stock.

Biohaven Pharmaceutical Company Profile

Biohaven Pharmaceutical Holding Company Ltd., a clinical-stage biopharmaceutical company, develops late-stage products candidates targeting neurological diseases in the United States. Its clinical stage products include Rimegepant, a product that has completed phase III trials and is in long-term safety ongoing process for acute treatment and prevention of migraine; BHV-3500 that has completed phase I clinical trial for acute treatment and prevention of migraine; and Troriluzole that has completed II/III randomization phase and is ongoing extension trial for ataxias.

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