Biohaven Pharmaceutical (NYSE:BHVN)‘s stock had its “buy” rating reaffirmed by research analysts at Morgan Stanley in a research report issued on Thursday. They presently have a $47.00 price target on the stock. Morgan Stanley’s price target would indicate a potential upside of 26.45% from the stock’s previous close.
A number of other brokerages have also recently issued reports on BHVN. Needham & Company LLC boosted their price objective on Biohaven Pharmaceutical from $36.00 to $48.00 and gave the company a “buy” rating in a research note on Monday, July 2nd. Cantor Fitzgerald set a $57.00 price objective on Biohaven Pharmaceutical and gave the company a “buy” rating in a research note on Wednesday, September 12th. ValuEngine upgraded Biohaven Pharmaceutical from a “hold” rating to a “buy” rating in a research note on Wednesday, October 3rd. Piper Jaffray Companies set a $65.00 price objective on Biohaven Pharmaceutical and gave the company a “buy” rating in a research note on Wednesday, September 12th. Finally, Zacks Investment Research upgraded Biohaven Pharmaceutical from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 13th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $47.57.
Shares of Biohaven Pharmaceutical stock opened at $37.17 on Thursday. Biohaven Pharmaceutical has a 52-week low of $16.50 and a 52-week high of $44.28. The stock has a market capitalization of $1.51 billion, a P/E ratio of -7.41 and a beta of 1.47.
Several institutional investors and hedge funds have recently made changes to their positions in BHVN. Legal & General Group Plc increased its position in shares of Biohaven Pharmaceutical by 111.3% during the first quarter. Legal & General Group Plc now owns 5,626 shares of the company’s stock valued at $145,000 after buying an additional 2,963 shares during the period. BNP Paribas Arbitrage SA boosted its stake in Biohaven Pharmaceutical by 189.2% in the first quarter. BNP Paribas Arbitrage SA now owns 6,299 shares of the company’s stock worth $162,000 after buying an additional 4,121 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Biohaven Pharmaceutical in the second quarter worth approximately $191,000. Quantitative Systematic Strategies LLC purchased a new stake in Biohaven Pharmaceutical in the second quarter worth approximately $205,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new stake in Biohaven Pharmaceutical in the second quarter worth approximately $291,000. Hedge funds and other institutional investors own 80.85% of the company’s stock.
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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