Biohaven Pharmaceutical (NYSE:BHVN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday.
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 equities research analysts have also issued reports on the company. Canaccord Genuity assumed coverage on Biohaven Pharmaceutical in a research report on Friday, December 15th. They set a “buy” rating and a $30.00 price target on the stock. Piper Jaffray Companies set a $48.00 price target on Biohaven Pharmaceutical and gave the company a “buy” rating in a research report on Monday, December 11th. Needham & Company LLC reissued a “buy” rating and set a $36.00 price target on shares of Biohaven Pharmaceutical in a research report on Wednesday, November 15th. BidaskClub lowered Biohaven Pharmaceutical from a “sell” rating to a “strong sell” rating in a research report on Tuesday, November 14th. Finally, William Blair reissued an “outperform” rating on shares of Biohaven Pharmaceutical in a research report on Tuesday, October 3rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company’s stock. Biohaven Pharmaceutical presently has a consensus rating of “Buy” and a consensus price target of $36.14.
In related news, Director Gregory Bailey sold 20,600 shares of the company’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $25.92, for a total transaction of $533,952.00. Following the completion of the transaction, the director now directly owns 1,289,699 shares in the company, valued at approximately $33,428,998.08. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Vlad Coric sold 150,000 shares of the company’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $29.41, for a total value of $4,411,500.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 474,131 shares of company stock worth $12,784,701.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Susquehanna International Group LLP bought a new position in Biohaven Pharmaceutical during the 3rd quarter worth $302,000. Perceptive Advisors LLC bought a new position in Biohaven Pharmaceutical during the 3rd quarter worth $11,443,000. Janus Henderson Group PLC bought a new position in Biohaven Pharmaceutical during the 3rd quarter worth $25,751,000. VHCP Management II LLC bought a new position in Biohaven Pharmaceutical during the 3rd quarter worth $60,826,000. Finally, Nicholas Investment Partners LP bought a new position in Biohaven Pharmaceutical during the 3rd quarter worth $3,602,000. Hedge funds and other institutional investors own 47.76% of the company’s stock.
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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.
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