Biohaven Pharmaceutical (BHVN) Stock Rating Lowered by Zacks Investment Research

Biohaven Pharmaceutical (NYSE:BHVN) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report released on Tuesday.

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. “

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A number of other equities analysts have also weighed in on BHVN. Canaccord Genuity reiterated a “buy” rating and issued a $34.00 price target (down from $39.00) on shares of Biohaven Pharmaceutical in a research report on Monday, March 26th. Barclays lowered shares of Biohaven Pharmaceutical from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $30.00 to $25.00 in a research report on Thursday, April 5th. Piper Jaffray reiterated a “buy” rating on shares of Biohaven Pharmaceutical in a research report on Monday, March 26th. Finally, Needham & Company LLC reiterated a “buy” rating on shares of Biohaven Pharmaceutical in a research report on Thursday, February 22nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $37.14.

Shares of NYSE BHVN opened at $27.60 on Tuesday. The company has a market cap of $954.47 and a P/E ratio of -5.52. Biohaven Pharmaceutical has a 12-month low of $16.50 and a 12-month high of $39.51.

Biohaven Pharmaceutical (NYSE:BHVN) last announced its earnings results on Tuesday, March 6th. The company reported ($0.75) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.33) by $0.58. equities analysts predict that Biohaven Pharmaceutical will post -4.34 EPS for the current fiscal year.

In other news, insider Robert Berman sold 35,000 shares of the business’s stock in a transaction on Tuesday, April 10th. The shares were sold at an average price of $24.66, for a total value of $863,100.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Gregory Bailey sold 50,000 shares of the business’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $33.71, for a total transaction of $1,685,500.00. Following the completion of the transaction, the director now directly owns 2,516,701 shares in the company, valued at approximately $84,837,990.71. The disclosure for this sale can be found here. Over the last quarter, insiders sold 259,657 shares of company stock valued at $7,898,188. Company insiders own 34.20% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. purchased a new position in shares of Biohaven Pharmaceutical in the third quarter worth $1,431,000. Susquehanna International Group LLP purchased a new position in shares of Biohaven Pharmaceutical in the third quarter worth $302,000. Candriam Luxembourg S.C.A. purchased a new position in shares of Biohaven Pharmaceutical in the fourth quarter worth $2,158,000. Endurant Capital Management LP purchased a new position in shares of Biohaven Pharmaceutical in the fourth quarter worth $278,000. Finally, Wells Fargo & Company MN purchased a new position in shares of Biohaven Pharmaceutical in the third quarter worth $1,339,000. 61.84% of the stock is currently owned by hedge funds and other institutional investors.

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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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