Biohaven Pharmaceutical (BHVN) Given a $65.00 Price Target at Piper Jaffray Companies
Biohaven Pharmaceutical (NYSE:BHVN) has been assigned a $65.00 price target by research analysts at Piper Jaffray Companies in a research note issued on Wednesday. The brokerage currently has a “buy” rating on the stock. Piper Jaffray Companies’ target price indicates a potential upside of 89.78% from the stock’s previous close.
BHVN has been the subject of several other reports. Zacks Investment Research lowered Biohaven Pharmaceutical from a “hold” rating to a “sell” rating in a report on Tuesday, October 16th. Morgan Stanley reiterated a “buy” rating and set a $47.00 price target on shares of Biohaven Pharmaceutical in a report on Thursday, October 11th. ValuEngine upgraded Biohaven Pharmaceutical from a “hold” rating to a “buy” rating in a report on Wednesday, October 3rd. Leerink Swann initiated coverage on Biohaven Pharmaceutical in a report on Monday. They set an “outperform” rating and a $50.00 price target for the company. Finally, Cantor Fitzgerald set a $57.00 price target on Biohaven Pharmaceutical and gave the company a “buy” rating in a report on Thursday, October 18th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $49.33.
Shares of Biohaven Pharmaceutical stock opened at $34.25 on Wednesday. The stock has a market cap of $1.46 billion, a PE ratio of -6.85 and a beta of 1.25. Biohaven Pharmaceutical has a 52-week low of $16.50 and a 52-week high of $44.28.
Several hedge funds have recently modified their holdings of BHVN. Wells Fargo & Company MN raised its stake in shares of Biohaven Pharmaceutical by 38.2% in the 1st quarter. Wells Fargo & Company MN now owns 41,184 shares of the company’s stock valued at $1,060,000 after acquiring an additional 11,373 shares in the last quarter. California State Teachers Retirement System raised its stake in shares of Biohaven Pharmaceutical by 189.6% in the 1st quarter. California State Teachers Retirement System now owns 48,371 shares of the company’s stock valued at $1,246,000 after acquiring an additional 31,671 shares in the last quarter. Legal & General Group Plc raised its stake 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 valued at $145,000 after acquiring an additional 2,963 shares in the last quarter. Raymond James Financial Services Advisors Inc. bought a new position in shares of Biohaven Pharmaceutical in the 2nd quarter valued at approximately $291,000. Finally, Emerald Advisers Inc. PA raised its stake in shares of Biohaven Pharmaceutical by 11.6% in the 2nd quarter. Emerald Advisers Inc. PA now owns 405,364 shares of the company’s stock valued at $16,020,000 after acquiring an additional 42,115 shares in the last quarter. 81.49% of the stock is currently owned by institutional investors and hedge funds.
Biohaven Pharmaceutical Company 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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