Essex Investment Management Co. LLC Sells 7,760 Shares of Biohaven Pharmaceutical Holding Co Ltd (NYSE:BHVN)

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Essex Investment Management Co. LLC lessened its stake in shares of Biohaven Pharmaceutical Holding Co Ltd (NYSE:BHVN) by 17.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,926 shares of the company’s stock after selling 7,760 shares during the quarter. Essex Investment Management Co. LLC owned about 0.07% of Biohaven Pharmaceutical worth $1,541,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the company. Handelsinvest Investeringsforvaltning increased its stake in Biohaven Pharmaceutical by 100.0% in the 3rd quarter. Handelsinvest Investeringsforvaltning now owns 40,000 shares of the company’s stock valued at $1,669,000 after buying an additional 20,000 shares during the last quarter. NJ State Employees Deferred Compensation Plan increased its stake in Biohaven Pharmaceutical by 150.0% in the 3rd quarter. NJ State Employees Deferred Compensation Plan now owns 15,000 shares of the company’s stock valued at $626,000 after buying an additional 9,000 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Biohaven Pharmaceutical by 16.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,618 shares of the company’s stock valued at $109,000 after buying an additional 362 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in Biohaven Pharmaceutical by 511.1% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,100 shares of the company’s stock valued at $46,000 after buying an additional 920 shares during the last quarter. Finally, Canton Hathaway LLC purchased a new stake in Biohaven Pharmaceutical in the 3rd quarter valued at about $83,000. 90.87% of the stock is currently owned by institutional investors.

In other news, Director Eric Aguiar sold 10,000 shares of Biohaven Pharmaceutical stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $45.00, for a total transaction of $450,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gregory Bailey acquired 5,000 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were bought at an average cost of $37.65 per share, with a total value of $188,250.00. Following the completion of the acquisition, the director now directly owns 2,587,601 shares in the company, valued at approximately $97,423,177.65. The disclosure for this purchase can be found here. 23.90% of the stock is owned by company insiders.

NYSE:BHVN traded up $0.04 during trading hours on Thursday, hitting $47.05. The stock had a trading volume of 836 shares, compared to its average volume of 573,138. The company has a 50 day simple moving average of $43.81 and a two-hundred day simple moving average of $48.78. Biohaven Pharmaceutical Holding Co Ltd has a one year low of $29.17 and a one year high of $67.86. The firm has a market capitalization of $2.40 billion, a price-to-earnings ratio of -7.57 and a beta of 0.32.

Biohaven Pharmaceutical (NYSE:BHVN) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($2.35) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($2.09) by ($0.26). Research analysts predict that Biohaven Pharmaceutical Holding Co Ltd will post -7.43 EPS for the current year.

Several equities research analysts have commented on BHVN shares. ValuEngine lowered shares of Biohaven Pharmaceutical from a “hold” rating to a “sell” rating in a research note on Saturday, October 19th. Goldman Sachs Group set a $89.00 price objective on shares of Biohaven Pharmaceutical and gave the company a “buy” rating in a research note on Wednesday, September 4th. Cantor Fitzgerald set a $87.00 price objective on shares of Biohaven Pharmaceutical and gave the company a “buy” rating in a research note on Wednesday, September 4th. William Blair reiterated a “buy” rating on shares of Biohaven Pharmaceutical in a research note on Tuesday, September 17th. Finally, Canaccord Genuity set a $80.00 price objective on shares of Biohaven Pharmaceutical and gave the company a “buy” rating in a research note on Monday, August 26th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $69.36.

Biohaven Pharmaceutical Profile

Biohaven Pharmaceutical Holding Company Ltd., a clinical-stage biopharmaceutical company, develops late-stage products candidates targeting neurological diseases in the United States. Its clinical stage products include Rimegepant, a product that has completed phase III trials and is in long-term safety ongoing process for acute treatment and prevention of migraine; BHV-3500 that has completed phase I clinical trial for acute treatment and prevention of migraine; and Troriluzole that has completed II/III randomization phase and is ongoing extension trial for ataxias.

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Institutional Ownership by Quarter for Biohaven Pharmaceutical (NYSE:BHVN)

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