Biohaven Pharmaceutical (BHVN) Raised to Buy at Zacks Investment Research
Biohaven Pharmaceutical (NYSE:BHVN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Monday. The firm currently has a $25.00 target price on the stock. Zacks Investment Research‘s price objective would suggest a potential upside of 10.72% from the stock’s previous close.
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 analysts have also issued reports on BHVN. BidaskClub raised Biohaven Pharmaceutical from a “buy” rating to a “strong-buy” rating in a report on Thursday, September 7th. Piper Jaffray Companies reissued a “buy” rating and issued a $54.00 target price on shares of Biohaven Pharmaceutical in a report on Tuesday, September 12th. Needham & Company LLC reaffirmed a “buy” rating and set a $43.00 price objective (up previously from $30.00) on shares of Biohaven Pharmaceutical in a report on Wednesday, September 13th. Morgan Stanley upped their price objective on Biohaven Pharmaceutical from $28.00 to $47.00 and gave the stock an “overweight” rating in a report on Monday, September 25th. Finally, William Blair reaffirmed an “outperform” rating on shares of Biohaven Pharmaceutical in a report on Tuesday, October 3rd. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $38.17.
In related news, Director Gregory Bailey sold 9,970 shares of the stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $25.48, for a total transaction of $254,035.60. Following the transaction, the director now directly owns 1,262,759 shares in the company, valued at $32,175,099.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Vlad Coric sold 150,000 shares of the stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $29.41, for a total value of $4,411,500.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 434,131 shares of company stock worth $11,901,751.
A number of large investors have recently made changes to their positions in BHVN. VHCP Management II LLC acquired a new stake in Biohaven Pharmaceutical during the third quarter worth about $60,826,000. Eagle Asset Management Inc. acquired a new stake in shares of Biohaven Pharmaceutical in the third quarter valued at about $32,635,000. Janus Henderson Group PLC acquired a new stake in shares of Biohaven Pharmaceutical in the third quarter valued at about $25,751,000. JPMorgan Chase & Co. acquired a new stake in shares of Biohaven Pharmaceutical in the third quarter valued at about $18,173,000. Finally, Stifel Financial Corp acquired a new stake in shares of Biohaven Pharmaceutical in the third quarter valued at about $15,525,000. Institutional investors own 47.76% of the company’s stock.
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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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