Mizuho began coverage on shares of Biohaven Pharmaceutical (NYSE:BHVN) in a research note released on Friday morning, Stock Target Advisor reports. The brokerage issued a buy rating and a $85.00 target price on the stock.
BHVN has been the subject of a number of other research reports. Canaccord Genuity restated a buy rating on shares of Biohaven Pharmaceutical in a report on Wednesday, April 22nd. Cowen boosted their price target on Biohaven Pharmaceutical from $60.00 to $80.00 and gave the company an outperform rating in a research note on Monday, June 15th. Cantor Fitzgerald boosted their price target on Biohaven Pharmaceutical from $82.00 to $109.00 and gave the company an overweight rating in a research note on Tuesday, June 23rd. Morgan Stanley boosted their price target on Biohaven Pharmaceutical from $46.00 to $50.00 and gave the company an equal weight rating in a research note on Monday, May 11th. Finally, Zacks Investment Research upgraded Biohaven Pharmaceutical from a hold rating to a buy rating and set a $67.00 price target for the company in a research note on Thursday, May 28th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $76.91.
Shares of NYSE BHVN opened at $69.32 on Friday. The business’s 50 day moving average price is $62.07 and its two-hundred day moving average price is $49.83. The company has a market cap of $4.10 billion, a PE ratio of -5.49 and a beta of 1.41. Biohaven Pharmaceutical has a twelve month low of $26.56 and a twelve month high of $76.40.
In related news, Director Declan Doogan sold 160,000 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $66.00, for a total value of $10,560,000.00. Following the completion of the sale, the director now directly owns 373,913 shares in the company, valued at $24,678,258. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John W. Childs sold 150,000 shares of the stock in a transaction on Monday, April 6th. The shares were sold at an average price of $31.25, for a total value of $4,687,500.00. Following the completion of the sale, the director now owns 2,682,279 shares of the company’s stock, valued at $83,821,218.75. The disclosure for this sale can be found here. Insiders have sold 891,258 shares of company stock valued at $55,904,437 over the last quarter. Company insiders own 19.10% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Capital International Investors grew its holdings in Biohaven Pharmaceutical by 105.5% during the 1st quarter. Capital International Investors now owns 6,003,735 shares of the company’s stock worth $204,307,000 after acquiring an additional 3,082,031 shares during the period. Wellington Management Group LLP grew its holdings in Biohaven Pharmaceutical by 102.5% during the 1st quarter. Wellington Management Group LLP now owns 3,118,373 shares of the company’s stock worth $106,120,000 after acquiring an additional 1,578,708 shares during the period. Capital World Investors grew its holdings in Biohaven Pharmaceutical by 250.3% during the 4th quarter. Capital World Investors now owns 1,646,426 shares of the company’s stock worth $89,631,000 after acquiring an additional 1,176,426 shares during the period. Avidity Partners Management LP acquired a new stake in Biohaven Pharmaceutical during the 1st quarter worth about $18,376,000. Finally, Norges Bank acquired a new stake in Biohaven Pharmaceutical during the 4th quarter worth about $26,154,000. Institutional investors and hedge funds own 97.74% of the company’s stock.
About Biohaven Pharmaceutical
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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