Biohaven Pharmaceutical Holding Co Ltd (NYSE:BHVN) has been assigned a consensus recommendation of “Buy” from the eleven brokerages that are currently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $54.63.
A number of research analysts have weighed in on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $56.00 target price (up from $48.00) on shares of Biohaven Pharmaceutical in a research note on Monday, March 4th. Cantor Fitzgerald boosted their target price on shares of Biohaven Pharmaceutical to $82.00 and gave the company an “overweight” rating in a research note on Wednesday, March 6th. Zacks Investment Research cut shares of Biohaven Pharmaceutical from a “buy” rating to a “hold” rating in a research note on Wednesday, March 6th. ValuEngine raised shares of Biohaven Pharmaceutical from a “hold” rating to a “buy” rating in a research report on Monday, February 4th. Finally, Oppenheimer set a $63.00 price target on shares of Biohaven Pharmaceutical and gave the company a “buy” rating in a research report on Monday, December 10th.
BHVN opened at $50.10 on Thursday. The stock has a market capitalization of $2.19 billion, a price-to-earnings ratio of -8.16 and a beta of 0.46. Biohaven Pharmaceutical has a twelve month low of $16.50 and a twelve month high of $50.65.
In other news, CEO Vlad Coric sold 100,000 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $50.09, for a total value of $5,009,000.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Declan Doogan sold 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 13th. The shares were sold at an average price of $44.31, for a total transaction of $1,772,400.00. The disclosure for this sale can be found here. In the last three months, insiders sold 304,180 shares of company stock worth $14,505,289. Insiders own 34.20% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC increased its holdings in Biohaven Pharmaceutical by 30.6% during the 4th quarter. Geode Capital Management LLC now owns 353,647 shares of the company’s stock worth $13,077,000 after acquiring an additional 82,960 shares during the period. Millennium Management LLC increased its holdings in Biohaven Pharmaceutical by 12.4% during the 4th quarter. Millennium Management LLC now owns 40,439 shares of the company’s stock worth $1,495,000 after acquiring an additional 4,448 shares during the period. Legal & General Group Plc increased its holdings in Biohaven Pharmaceutical by 14.1% during the 4th quarter. Legal & General Group Plc now owns 5,284 shares of the company’s stock worth $196,000 after acquiring an additional 652 shares during the period. Diag Capital Management LP bought a new stake in Biohaven Pharmaceutical during the 4th quarter worth approximately $1,417,000. Finally, Candriam Luxembourg S.C.A. increased its holdings in Biohaven Pharmaceutical by 31.3% during the 4th quarter. Candriam Luxembourg S.C.A. now owns 547,799 shares of the company’s stock worth $20,257,000 after acquiring an additional 130,500 shares during the period. 97.60% of the stock is currently owned by institutional investors and hedge funds.
About Biohaven Pharmaceutical
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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