Vivo Capital LLC Lowers Position in Biohaven Pharmaceutical Holding Co Ltd (NYSE:BHVN)

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Vivo Capital LLC trimmed its holdings in Biohaven Pharmaceutical Holding Co Ltd (NYSE:BHVN) by 72.2% during the first quarter, Holdings Channel reports. The fund owned 504,980 shares of the company’s stock after selling 1,308,360 shares during the period. Biohaven Pharmaceutical accounts for 2.6% of Vivo Capital LLC’s investment portfolio, making the stock its 13th largest holding. Vivo Capital LLC’s holdings in Biohaven Pharmaceutical were worth $25,991,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Flinton Capital Management LLC acquired a new stake in shares of Biohaven Pharmaceutical during the 4th quarter worth about $42,000. Neuburgh Advisers LLC acquired a new stake in shares of Biohaven Pharmaceutical in the fourth quarter worth approximately $52,000. Manchester Capital Management LLC acquired a new stake in shares of Biohaven Pharmaceutical in the first quarter worth approximately $52,000. NumerixS Investment Technologies Inc boosted its position in shares of Biohaven Pharmaceutical by 333.3% in the first quarter. NumerixS Investment Technologies Inc now owns 2,600 shares of the company’s stock worth $134,000 after acquiring an additional 2,000 shares during the last quarter. Finally, Legal & General Group Plc boosted its position in shares of Biohaven Pharmaceutical by 14.1% in the fourth 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 last quarter. 90.74% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts recently issued reports on BHVN shares. Morgan Stanley cut shares of Biohaven Pharmaceutical from an “overweight” rating to an “equal weight” rating and set a $49.13 target price on the stock. in a research report on Tuesday, April 9th. They noted that the move was a valuation call. Goldman Sachs Group started coverage on shares of Biohaven Pharmaceutical in a research report on Monday, May 6th. They issued a “buy” rating and a $92.00 target price on the stock. Needham & Company LLC raised their target price on shares of Biohaven Pharmaceutical to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Cantor Fitzgerald raised their target price on shares of Biohaven Pharmaceutical to $82.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 6th. Finally, Barclays reissued a “hold” rating and issued a $52.00 target price on shares of Biohaven Pharmaceutical in a research report on Tuesday, March 19th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $70.18.

In related news, Director Declan Doogan sold 88,825 shares of the firm’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $58.42, for a total value of $5,189,156.50. Following the transaction, the director now owns 373,913 shares in the company, valued at $21,843,997.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Vlad Coric sold 100,000 shares of the firm’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 transaction of $5,009,000.00. The disclosure for this sale can be found here. Insiders sold 244,176 shares of company stock worth $13,178,721 in the last 90 days. 23.90% of the stock is currently owned by insiders.

NYSE BHVN traded down $0.06 during mid-day trading on Wednesday, hitting $61.95. The company’s stock had a trading volume of 18,287 shares, compared to its average volume of 550,595. Biohaven Pharmaceutical Holding Co Ltd has a 52-week low of $29.17 and a 52-week high of $67.86. The firm has a market capitalization of $2.97 billion, a price-to-earnings ratio of -10.11 and a beta of 0.72.

Biohaven Pharmaceutical (NYSE:BHVN) last posted its quarterly earnings results on Tuesday, May 7th. The company reported ($1.41) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.50) by $0.09. During the same quarter in the previous year, the business posted ($2.32) earnings per share. As a group, sell-side analysts anticipate that Biohaven Pharmaceutical Holding Co Ltd will post -6.54 earnings per share for the current fiscal year.

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Biohaven Pharmaceutical Company Profile

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

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