Biohaven Pharmaceutical (NYSE:BHVN) has been assigned a $39.00 price target by Canaccord Genuity in a research note issued on Wednesday. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity’s price objective suggests a potential upside of 28.63% from the company’s previous close.
The analysts wrote, “We expect 0.125 and 0.15 mg/kg SVP-Rapamycin data to show robust Serum Uric Acid suppression in severe gout patients when released in April, which should boost SELB shares. We suspect that SELB may present ~n=10-11 patients per cohort, but await final data on the level of pegsiticase dosing, which was 0.2 and 0.4 mg/kg in Phase 2. Importantly, SELB has previously demonstrated that higher doses of SVP-Rapamycin show improving SUA suppression and lower antibody levels, and we would expect 0.125 and 0.15 mg/kg to improve on that trend. As a reminder, SELB showed improving SUA suppression in Phase 1b as SVP-rapamycin doses increased from 0.03 mg/kg to 0.1 mg/kg, and then to 0.15 mg/kg. Patients with SUA levels <6 mg/dL at day 30 were 0%, 70%, and 100% respectively."”
Other analysts have also recently issued research reports about the stock. Piper Jaffray Companies set a $48.00 target price on shares of Biohaven Pharmaceutical and gave the company a “buy” rating in a research report on Monday, December 11th. Zacks Investment Research upgraded shares of Biohaven Pharmaceutical from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research report on Monday, December 4th. Needham & Company LLC reiterated a “buy” rating and set a $36.00 target price on shares of Biohaven Pharmaceutical in a research report on Wednesday, November 15th. Finally, BidaskClub cut shares of Biohaven Pharmaceutical from a “sell” rating to a “strong sell” rating in a research report on Tuesday, November 14th. One research analyst has rated the stock with a sell rating and seven have given a buy rating to the company. Biohaven Pharmaceutical presently has an average rating of “Buy” and a consensus price target of $38.57.
In related news, Director Gregory Bailey sold 39,430 shares of the company’s stock in a transaction on Wednesday, December 20th. The shares were sold at an average price of $26.31, for a total value of $1,037,403.30. Following the completion of the sale, the director now owns 1,234,077 shares in the company, valued at approximately $32,468,565.87. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Robert Berman sold 10,000 shares of the company’s stock in a transaction on Tuesday, December 19th. The shares were sold at an average price of $24.10, for a total transaction of $241,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 802,976 shares of company stock valued at $22,953,575 in the last quarter.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. bought a new stake in shares of Biohaven Pharmaceutical in the 3rd quarter valued at $1,431,000. Susquehanna International Group LLP bought a new stake in shares of Biohaven Pharmaceutical in the 3rd quarter valued at $302,000. Candriam Luxembourg S.C.A. bought a new stake in shares of Biohaven Pharmaceutical in the 4th quarter valued at $2,158,000. Wells Fargo & Company MN bought a new stake in shares of Biohaven Pharmaceutical in the 3rd quarter valued at $1,339,000. Finally, Artal Group S.A. bought a new stake in shares of Biohaven Pharmaceutical in the 3rd quarter valued at $1,869,000. Institutional investors and hedge funds own 61.84% of the company’s stock.
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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