Biohaven Pharmaceutical (NYSE:BHVN) Lifted to Buy at Zacks Investment Research

Biohaven Pharmaceutical (NYSE:BHVN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday, Zacks.com reports. The brokerage currently has a $47.00 price target on the stock. Zacks Investment Research‘s target price would indicate a potential upside of 9.07% from the stock’s previous close.

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 analysts have also recently commented on BHVN. ValuEngine upgraded WPP from a “sell” rating to a “hold” rating in a report on Wednesday, June 19th. Barclays set a $145.00 target price on Sanderson Farms and gave the stock a “hold” rating in a report on Friday, May 31st. Goldman Sachs Group set a €75.30 ($87.56) target price on Stroeer SE & Co KGaA and gave the stock a “buy” rating in a report on Monday, May 6th. Svb Leerink increased their target price on Biohaven Pharmaceutical from $50.00 to $67.00 and gave the stock an “outperform” rating in a report on Tuesday, April 23rd. Finally, Morgan Stanley set a $61.00 target price on Walgreens Boots Alliance and gave the stock a “hold” rating in a report on Tuesday, May 14th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $70.18.

Shares of BHVN stock traded down $0.62 during trading hours on Tuesday, hitting $43.09. 39,015 shares of the company’s stock were exchanged, compared to its average volume of 744,968. The company has a 50-day moving average price of $52.32. The firm has a market cap of $1.92 billion, a PE ratio of -7.01 and a beta of 0.26. Biohaven Pharmaceutical has a 52 week low of $29.17 and a 52 week high of $67.86.

Biohaven Pharmaceutical (NYSE:BHVN) last announced its earnings results on Tuesday, May 7th. The company reported ($1.41) EPS for the quarter, topping the consensus estimate of ($1.50) by $0.09. During the same period in the prior year, the firm posted ($2.32) EPS. On average, equities analysts anticipate that Biohaven Pharmaceutical will post -6.32 earnings per share for the current year.

In related news, CFO James Engelhart bought 2,500 shares of the business’s stock in a transaction on Thursday, June 27th. The shares were purchased at an average price of $43.05 per share, with a total value of $107,625.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Declan Doogan sold 38,825 shares of the stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $53.92, for a total value of $2,093,444.00. Following the completion of the transaction, the director now directly owns 373,913 shares in the company, valued at approximately $20,161,388.96. The disclosure for this sale can be found here. In the last quarter, insiders purchased 17,500 shares of company stock worth $712,425. 23.90% of the stock is owned by company insiders.

Large investors have recently added to or reduced their stakes in the business. Manchester Capital Management LLC acquired a new position in Biohaven Pharmaceutical in the first quarter valued at about $52,000. Flinton Capital Management LLC acquired a new position in Biohaven Pharmaceutical in the fourth quarter valued at about $42,000. Neuburgh Advisers LLC acquired a new position in Biohaven Pharmaceutical in the fourth quarter valued at about $52,000. NumerixS Investment Technologies Inc lifted its stake in Biohaven Pharmaceutical by 333.3% in the first quarter. NumerixS Investment Technologies Inc now owns 2,600 shares of the company’s stock valued at $134,000 after buying an additional 2,000 shares during the period. Finally, Legal & General Group Plc lifted its stake in Biohaven Pharmaceutical by 14.1% in the fourth quarter. Legal & General Group Plc now owns 5,284 shares of the company’s stock valued at $196,000 after buying an additional 652 shares during the period. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

About Biohaven Pharmaceutical

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.

Recommended Story: Consumer behavior in bull markets

Get a free copy of the Zacks research report on Biohaven Pharmaceutical (BHVN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Biohaven Pharmaceutical (NYSE:BHVN)

Receive News & Ratings for Biohaven Pharmaceutical Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Biohaven Pharmaceutical and related companies with MarketBeat.com's FREE daily email newsletter.