Barclays Lowers Biohaven Pharmaceutical (BHVN) to Equal Weight

Posted by Joseph Griffin on Apr 6th, 2018 // Comments off

Barclays downgraded shares of Biohaven Pharmaceutical (NYSE:BHVN) from an overweight rating to an equal weight rating in a research note released on Thursday, Marketbeat reports. The brokerage currently has $25.00 price target on the stock, down from their prior price target of $30.00.

Several other equities research analysts have also commented on BHVN. Canaccord Genuity reaffirmed a buy rating and issued a $39.00 price target (up from $30.00) on shares of Biohaven Pharmaceutical in a report on Thursday, February 22nd. Piper Jaffray reaffirmed a buy rating on shares of Biohaven Pharmaceutical in a report on Monday, March 26th. Zacks Investment Research raised shares of Biohaven Pharmaceutical from a hold rating to a buy rating and set a $33.00 price target on the stock in a report on Friday, March 9th. Finally, Needham & Company LLC reaffirmed a buy rating on shares of Biohaven Pharmaceutical in a report on Thursday, February 22nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of Buy and an average target price of $37.14.

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NYSE:BHVN traded down $0.82 during mid-day trading on Thursday, hitting $23.68. The company’s stock had a trading volume of 356,422 shares, compared to its average volume of 767,385. Biohaven Pharmaceutical has a 1 year low of $16.50 and a 1 year high of $39.51. The firm has a market cap of $905.84 and a price-to-earnings ratio of -4.81.

In other news, insider Robert Berman sold 35,000 shares of the 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Declan Doogan sold 121,942 shares of the stock in a transaction dated Friday, January 12th. The stock was sold at an average price of $26.78, for a total transaction of $3,265,606.76. The disclosure for this sale can be found here. Over the last three months, insiders have sold 674,900 shares of company stock worth $19,445,005.

Several hedge funds have recently bought and sold shares of the company. VHCP Management II LLC boosted its stake in shares of Biohaven Pharmaceutical by 3.3% during the 4th quarter. VHCP Management II LLC now owns 1,718,605 shares of the company’s stock worth $46,368,000 after acquiring an additional 54,305 shares in the last quarter. Alliancebernstein L.P. boosted its stake in shares of Biohaven Pharmaceutical by 84.9% during the 4th quarter. Alliancebernstein L.P. now owns 1,597,756 shares of the company’s stock worth $43,107,000 after acquiring an additional 733,526 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Biohaven Pharmaceutical by 1.1% during the 4th quarter. BlackRock Inc. now owns 1,154,207 shares of the company’s stock worth $31,139,000 after acquiring an additional 12,505 shares in the last quarter. Eagle Asset Management Inc. raised its position in shares of Biohaven Pharmaceutical by 20.4% during the 4th quarter. Eagle Asset Management Inc. now owns 1,104,999 shares of the company’s stock worth $30,207,000 after purchasing an additional 187,243 shares during the last quarter. Finally, Carillon Tower Advisers Inc. acquired a new position in shares of Biohaven Pharmaceutical during the 4th quarter worth about $18,627,000. 61.84% of the stock is currently owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Biohaven Pharmaceutical (NYSE:BHVN)

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