Principal Financial Group Inc. Increases Stake in Biohaven Pharmaceutical Holding Company Ltd. (NYSE:BHVN)

Principal Financial Group Inc. raised its position in Biohaven Pharmaceutical Holding Company Ltd. (NYSE:BHVN) by 540.2% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 187,870 shares of the company’s stock after purchasing an additional 158,523 shares during the period. Principal Financial Group Inc.’s holdings in Biohaven Pharmaceutical were worth $12,841,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in BHVN. Norges Bank purchased a new position in Biohaven Pharmaceutical in the 4th quarter valued at $43,510,000. Oak Ridge Investments LLC lifted its holdings in Biohaven Pharmaceutical by 689.4% in the 1st quarter. Oak Ridge Investments LLC now owns 302,091 shares of the company’s stock valued at $20,648,000 after purchasing an additional 263,821 shares in the last quarter. BlackRock Inc. lifted its holdings in Biohaven Pharmaceutical by 7.3% in the 1st quarter. BlackRock Inc. now owns 3,783,554 shares of the company’s stock valued at $258,608,000 after purchasing an additional 258,603 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in Biohaven Pharmaceutical by 20.9% in the 1st quarter. Alliancebernstein L.P. now owns 1,456,559 shares of the company’s stock valued at $99,556,000 after purchasing an additional 251,355 shares in the last quarter. Finally, Compagnie Lombard Odier SCmA purchased a new position in Biohaven Pharmaceutical in the 1st quarter valued at $16,028,000. Institutional investors own 92.11% of the company’s stock.

In related news, Director John W. Childs acquired 13,157 shares of the stock in a transaction dated Wednesday, March 17th. The stock was acquired at an average cost of $76.00 per share, with a total value of $999,932.00. Insiders own 15.20% of the company’s stock.

BHVN has been the topic of several analyst reports. Cantor Fitzgerald lifted their price target on Biohaven Pharmaceutical from $125.00 to $140.00 and gave the stock an “overweight” rating in a report on Tuesday, June 1st. UBS Group initiated coverage on Biohaven Pharmaceutical in a report on Thursday, March 11th. They set a “buy” rating and a $108.00 price target on the stock. Mizuho lifted their price target on Biohaven Pharmaceutical from $90.00 to $92.00 and gave the stock a “buy” rating in a report on Friday, May 28th. Morgan Stanley reduced their price target on Biohaven Pharmaceutical from $76.00 to $69.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 18th. Finally, SVB Leerink reduced their price objective on shares of Biohaven Pharmaceutical from $115.00 to $105.00 and set an “outperform” rating on the stock in a report on Wednesday, May 12th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and ten have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $100.45.

NYSE BHVN opened at $103.46 on Friday. The firm has a market cap of $6.73 billion, a P/E ratio of -7.30 and a beta of 1.01. The firm has a 50-day moving average price of $76.81. Biohaven Pharmaceutical Holding Company Ltd. has a 1-year low of $57.66 and a 1-year high of $103.83.

Biohaven Pharmaceutical (NYSE:BHVN) last announced its quarterly earnings data on Sunday, May 9th. The company reported ($4.21) EPS for the quarter, missing the Zacks’ consensus estimate of ($2.92) by ($1.29). The firm had revenue of $43.82 million during the quarter, compared to analyst estimates of $36.46 million. During the same period in the previous year, the company posted ($2.39) earnings per share. The business’s quarterly revenue was up 3710.4% on a year-over-year basis. As a group, equities analysts forecast that Biohaven Pharmaceutical Holding Company Ltd. will post -13.47 EPS for the current fiscal year.

Biohaven Pharmaceutical Profile

Biohaven Pharmaceutical Holding Company Ltd., a biopharmaceutical company, develops products candidates targeting neurological diseases and rare disorders in the United States. It offers NURTEC ODT (rimegepant) for the acute treatment of migraine, as well as id developing Rimegepant for preventive treatment of migraine and other non-migraine indications; Zavegepant that is in phase III clinical trials for acute and preventive treatment of migraine, as well as respiratory complications and non-migraine studies; and BHV-3100 for non-migraine indications.

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Institutional Ownership by Quarter for Biohaven Pharmaceutical (NYSE:BHVN)

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