Zacks Investment Research Lowers Biohaven Pharmaceutical (BHVN) to Sell

Zacks Investment Research cut shares of Biohaven Pharmaceutical (NYSE:BHVN) from a hold rating to a sell rating in a report issued on Wednesday 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. “

Several other research analysts have also commented on the company. ValuEngine upgraded Biohaven Pharmaceutical from a sell rating to a hold rating in a report on Wednesday, May 2nd. Canaccord Genuity set a $34.00 price target on Biohaven Pharmaceutical and gave the stock a buy rating in a report on Friday, April 27th. Barclays lowered shares of Biohaven Pharmaceutical from an overweight rating to an equal weight rating and reduced their price objective for the company from $30.00 to $25.00 in a report on Thursday, April 5th. Piper Jaffray restated a buy rating on shares of Biohaven Pharmaceutical in a report on Monday, March 26th. Finally, Needham & Company LLC restated a buy rating on shares of Biohaven Pharmaceutical in a report on Thursday, February 22nd. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $37.29.

NYSE BHVN opened at $31.25 on Wednesday. Biohaven Pharmaceutical has a 52 week low of $16.50 and a 52 week high of $39.51. The firm has a market cap of $1.18 billion and a PE ratio of -6.25.

Biohaven Pharmaceutical (NYSE:BHVN) last posted its quarterly earnings results on Tuesday, May 15th. The company reported ($2.32) EPS for the quarter, missing the consensus estimate of ($1.12) by ($1.20). research analysts expect that Biohaven Pharmaceutical will post -4.81 earnings per share for the current year.

In related news, CFO James Engelhart sold 2,500 shares of the business’s stock in a transaction dated Monday, May 7th. The shares were sold at an average price of $27.67, for a total value of $69,175.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Kimberly Gentile sold 5,000 shares of the business’s stock in a transaction dated Thursday, March 1st. The shares were sold at an average price of $32.87, for a total transaction of $164,350.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 113,038 shares of company stock worth $3,105,100. 34.20% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of BHVN. BlackRock Inc. grew its position in Biohaven Pharmaceutical by 63.6% in the 1st quarter. BlackRock Inc. now owns 1,888,608 shares of the company’s stock valued at $48,650,000 after acquiring an additional 734,401 shares in the last quarter. Alliancebernstein L.P. grew its position in 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. acquired a new position in Biohaven Pharmaceutical in the 4th quarter valued at about $18,627,000. Foresite Capital Management IV LLC grew its position in Biohaven Pharmaceutical by 298.8% in the 1st quarter. Foresite Capital Management IV LLC now owns 851,200 shares of the company’s stock valued at $21,927,000 after acquiring an additional 637,765 shares in the last quarter. Finally, Millennium Management LLC acquired a new position in Biohaven Pharmaceutical in the 4th quarter valued at about $7,459,000. Hedge funds and other institutional investors own 63.34% of the company’s stock.

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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