Biohaven Pharmaceutical (BHVN) Sees Unusually-High Trading Volume on Analyst Upgrade
Biohaven Pharmaceutical Holding Co Ltd (NYSE:BHVN) shares saw unusually-strong trading volume on Monday after Oppenheimer raised their price target on the stock from $54.00 to $70.00. Oppenheimer currently has an outperform rating on the stock. Approximately 670,122 shares changed hands during mid-day trading, an increase of 28% from the previous session’s volume of 524,894 shares.The stock last traded at $59.34 and had previously closed at $58.24.
Several other equities research analysts have also recently commented on the stock. Cantor Fitzgerald reissued a “buy” rating and set a $75.00 price target on shares of Biohaven Pharmaceutical in a research report on Friday, February 8th. Zacks Investment Research raised shares of Biohaven Pharmaceutical from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a research report on Tuesday, January 15th. ValuEngine raised shares of Biohaven Pharmaceutical from a “hold” rating to a “buy” rating in a research report on Monday, February 4th. Needham & Company LLC reissued a “buy” rating and set a $56.00 price target (up from $48.00) on shares of Biohaven Pharmaceutical in a research report on Monday, March 4th. Finally, Barclays reissued a “hold” rating and set a $52.00 price target on shares of Biohaven Pharmaceutical in a research report on Tuesday, March 19th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $62.57.
In other news, Director Declan Doogan sold 40,000 shares of the company’s stock in a transaction dated Wednesday, February 13th. The shares were sold at an average price of $44.31, for a total value of $1,772,400.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Vlad Coric sold 100,000 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $50.09, for a total transaction of $5,009,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 310,206 shares of company stock worth $14,996,874. 34.20% of the stock is owned by insiders.
The firm has a market cap of $2.60 billion, a price-to-earnings ratio of -9.74 and a beta of 0.50.
Biohaven Pharmaceutical (NYSE:BHVN) last released its quarterly earnings results on Thursday, February 28th. The company reported ($1.34) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.28) by ($0.06). On average, research analysts expect that Biohaven Pharmaceutical Holding Co Ltd will post -6.16 EPS for the current fiscal year.
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Biohaven Pharmaceutical Company Profile (NYSE:BHVN)
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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