Biohaven Pharmaceutical (BHVN) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Biohaven Pharmaceutical (NYSE:BHVN) from a hold rating to a sell rating in a report released on Tuesday, January 30th.

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. “

Other equities research analysts have also recently issued reports about the company. BidaskClub cut Biohaven Pharmaceutical from a buy rating to a hold rating in a research note on Thursday, October 5th. Needham & Company LLC reissued a buy rating and set a $36.00 price objective on shares of Biohaven Pharmaceutical in a research note on Wednesday, November 15th. William Blair reaffirmed an outperform rating on shares of Biohaven Pharmaceutical in a research note on Tuesday, October 3rd. Canaccord Genuity began coverage on Biohaven Pharmaceutical in a research note on Friday, December 15th. They set a buy rating and a $30.00 target price on the stock. Finally, Piper Jaffray Companies set a $48.00 target price on Biohaven Pharmaceutical and gave the company a buy rating in a research note on Monday, December 11th. Two analysts have rated the stock with a sell rating and six have given a buy rating to the company. Biohaven Pharmaceutical has a consensus rating of Buy and a consensus price target of $36.14.

Biohaven Pharmaceutical (NYSE:BHVN) traded down $0.72 during trading hours on Tuesday, hitting $30.45. The company had a trading volume of 71,661 shares, compared to its average volume of 425,701. The stock has a market capitalization of $1,100.00 and a P/E ratio of -5.84. Biohaven Pharmaceutical has a 12 month low of $17.00 and a 12 month high of $39.51.

Biohaven Pharmaceutical (NYSE:BHVN) last posted its earnings results on Tuesday, November 14th. The company reported ($1.19) EPS for the quarter, topping analysts’ consensus estimates of ($1.22) by $0.03. research analysts anticipate that Biohaven Pharmaceutical will post -6.4 EPS for the current year.

In other news, Director Gregory Bailey sold 50,000 shares of the 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 sale, the director now owns 2,516,701 shares in the company, valued at approximately $84,837,990.71. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Kimberly Gentile sold 5,000 shares of the stock in a transaction on Friday, December 1st. The shares were sold at an average price of $21.99, for a total value of $109,950.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 823,608 shares of company stock valued at $23,154,149.

Several institutional investors and hedge funds have recently modified their holdings of the company. VHCP Management II LLC acquired a new position in shares of Biohaven Pharmaceutical in the 3rd quarter valued at $60,826,000. Eagle Asset Management Inc. acquired a new position in shares of Biohaven Pharmaceutical in the 3rd quarter valued at $32,635,000. Alliancebernstein L.P. increased its position in shares of Biohaven Pharmaceutical by 84.9% in the 4th quarter. Alliancebernstein L.P. now owns 1,597,756 shares of the company’s stock valued at $43,107,000 after acquiring an additional 733,526 shares during the period. Carillon Tower Advisers Inc. acquired a new position in shares of Biohaven Pharmaceutical in the 4th quarter valued at $18,627,000. Finally, Janus Henderson Group PLC acquired a new position in shares of Biohaven Pharmaceutical in the 3rd quarter valued at $25,751,000. Hedge funds and other institutional investors own 48.09% of the company’s stock.

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About Biohaven Pharmaceutical

Biohaven Pharmaceutical Holding Company Ltd. is a United States-based biopharmaceutical company. The Company is engaged in the identification and development of clinical-stage compounds targeting orphan neurologic indications and other neurological pathways. It has a portfolio of multiple late-stage drug candidates.

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