Biohaven Pharmaceutical (BHVN) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research lowered shares of Biohaven Pharmaceutical (NYSE:BHVN) from a strong-buy rating to a hold rating in a report issued on Tuesday morning.

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. “

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BHVN has been the subject of several other reports. Canaccord Genuity set a $39.00 target price on shares of Biohaven Pharmaceutical and gave the company a buy rating in a research note on Wednesday, March 7th. Needham & Company LLC reissued a buy rating on shares of Biohaven Pharmaceutical in a research note on Thursday, February 22nd. Piper Jaffray reissued a buy rating on shares of Biohaven Pharmaceutical in a research note on Monday, March 26th. Finally, Barclays lowered shares of Biohaven Pharmaceutical from an overweight rating to an equal weight rating and cut their target price for the company from $30.00 to $25.00 in a research note on Thursday, April 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of Buy and an average target price of $37.14.

Shares of NYSE:BHVN opened at $27.27 on Tuesday. The company has a market capitalization of $949.06 and a PE ratio of -5.45. Biohaven Pharmaceutical has a twelve month low of $16.50 and a twelve month high of $39.51.

Biohaven Pharmaceutical (NYSE:BHVN) last released its earnings results on Tuesday, March 6th. The company reported ($0.75) EPS for the quarter, beating the consensus estimate of ($1.33) by $0.58. research analysts anticipate that Biohaven Pharmaceutical will post -4.34 earnings per share for the current year.

In related news, insider Robert Berman sold 35,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 10th. The shares were sold at an average price of $24.66, for a total value of $863,100.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gregory Bailey sold 49,000 shares of the company’s stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $30.76, for a total transaction of $1,507,240.00. Following the completion of the sale, the director now owns 2,583,289 shares of the company’s stock, valued at approximately $79,461,969.64. The disclosure for this sale can be found here. Over the last three months, insiders have sold 224,538 shares of company stock valued at $6,843,565. Company insiders own 34.20% of the company’s stock.

Several large investors have recently modified their holdings of BHVN. Alliancebernstein L.P. lifted 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 in the last quarter. Carillon Tower Advisers Inc. purchased a new stake in shares of Biohaven Pharmaceutical in the 4th quarter valued at approximately $18,627,000. Janus Henderson Group PLC purchased a new stake in shares of Biohaven Pharmaceutical in the 3rd quarter valued at approximately $25,751,000. Millennium Management LLC purchased a new stake in shares of Biohaven Pharmaceutical in the 4th quarter valued at approximately $7,459,000. Finally, Eagle Asset Management Inc. lifted its position in shares of Biohaven Pharmaceutical by 20.4% in the 4th quarter. Eagle Asset Management Inc. now owns 1,104,999 shares of the company’s stock valued at $30,207,000 after acquiring an additional 187,243 shares in the last quarter. Institutional investors and hedge funds own 61.84% of the company’s stock.

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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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