Barclays cut shares of Biohaven Pharmaceutical (NYSE:BHVN) from an overweight rating to an equal weight rating in a research note released on Thursday morning, Marketbeat reports. Barclays currently has $25.00 price objective on the stock, down from their prior price objective of $30.00.
BHVN has been the topic of a number of other reports. Zacks Investment Research lowered shares of Biohaven Pharmaceutical from a hold rating to a sell rating in a research note on Tuesday, January 30th. Canaccord Genuity set a $39.00 price objective on shares of Biohaven Pharmaceutical and gave the company a buy rating in a research note on Wednesday, March 7th. Needham & Company LLC reaffirmed a buy rating on shares of Biohaven Pharmaceutical in a research note on Thursday, February 22nd. Finally, Piper Jaffray reaffirmed a buy rating on shares of Biohaven Pharmaceutical in a research note on Monday, March 26th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $37.14.
NYSE:BHVN opened at $23.62 on Thursday. Biohaven Pharmaceutical has a 12 month low of $16.50 and a 12 month high of $39.51.
Biohaven Pharmaceutical (NYSE:BHVN) last posted its quarterly earnings results on Tuesday, March 6th. The company reported ($0.75) EPS for the quarter, topping analysts’ consensus estimates of ($1.33) by $0.58. research analysts forecast that Biohaven Pharmaceutical will post -4.27 EPS for the current fiscal year.
In related news, Director Declan Doogan sold 128,058 shares of the firm’s stock in a transaction dated Thursday, January 18th. The shares were sold at an average price of $26.95, for a total transaction of $3,451,163.10. Following the transaction, the director now directly owns 2,583,289 shares of the company’s stock, valued at $69,619,638.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert Berman sold 35,000 shares of the firm’s stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $30.11, for a total transaction of $1,053,850.00. The disclosure for this sale can be found here. Insiders have sold 674,900 shares of company stock worth $19,445,005 over the last three months.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Legal & General Group Plc bought a new position in shares of Biohaven Pharmaceutical during the third quarter valued at about $119,000. Deutsche Bank AG lifted its position in shares of Biohaven Pharmaceutical by 28.6% during the fourth quarter. Deutsche Bank AG now owns 23,580 shares of the company’s stock valued at $635,000 after purchasing an additional 5,248 shares in the last quarter. Nationwide Fund Advisors bought a new position in shares of Biohaven Pharmaceutical during the third quarter valued at about $214,000. American International Group Inc. bought a new position in shares of Biohaven Pharmaceutical during the third quarter valued at about $251,000. Finally, Susquehanna International Group LLP bought a new position in shares of Biohaven Pharmaceutical during the third quarter valued at about $302,000. 61.84% of the stock is currently owned by institutional investors.
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Biohaven Pharmaceutical Company Profile
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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