Biohaven Pharmaceutical (NYSE:BHVN) Earns Outperform Rating from Analysts at Wedbush

Wedbush began coverage on shares of Biohaven Pharmaceutical (NYSE:BHVN) in a research report released on Thursday morning, Benzinga reports. The firm issued an outperform rating and a $75.00 target price on the stock.

Several other brokerages also recently issued reports on BHVN. Leerink Swann lifted their price objective on Biohaven Pharmaceutical from $62.00 to $64.00 and gave the stock an outperform rating in a research report on Friday, December 6th. Goldman Sachs Group set a $89.00 price target on Biohaven Pharmaceutical and gave the stock a buy rating in a research note on Wednesday, September 4th. Cantor Fitzgerald lifted their price target on Biohaven Pharmaceutical from $87.00 to $92.00 and gave the company an overweight rating in a report on Monday, October 28th. 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. Finally, Oppenheimer set a $67.00 price objective on shares of Biohaven Pharmaceutical and gave the stock a buy rating in a report on Wednesday, October 9th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Biohaven Pharmaceutical presently has a consensus rating of Buy and an average target price of $71.42.

Shares of Biohaven Pharmaceutical stock traded up $1.31 during trading on Thursday, hitting $52.32. 447,472 shares of the company were exchanged, compared to its average volume of 733,805. Biohaven Pharmaceutical has a fifty-two week low of $29.17 and a fifty-two week high of $67.86. The stock has a market capitalization of $2.68 billion, a price-to-earnings ratio of -8.51 and a beta of 0.47. The firm has a 50 day moving average price of $51.21 and a 200 day moving average price of $46.74.

Biohaven Pharmaceutical (NYSE:BHVN) last issued its quarterly earnings data on Friday, November 1st. The company reported ($2.04) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.57) by ($0.47). As a group, research analysts forecast that Biohaven Pharmaceutical will post -7.55 EPS for the current year.

In related news, insider Elyse Stock sold 800 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $45.01, for a total transaction of $36,008.00. Following the completion of the sale, the insider now directly owns 800 shares of the company’s stock, valued at approximately $36,008. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Kimberly Gentile sold 3,935 shares of Biohaven Pharmaceutical stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $53.03, for a total transaction of $208,673.05. Following the sale, the senior vice president now directly owns 3,935 shares in the company, valued at approximately $208,673.05. The disclosure for this sale can be found here. Insiders sold 34,486 shares of company stock worth $1,687,132 over the last three months. 23.90% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of the business. Marshall Wace LLP bought a new stake in shares of Biohaven Pharmaceutical in the 1st quarter worth about $365,000. Strs Ohio acquired a new position in Biohaven Pharmaceutical in the second quarter worth about $814,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Biohaven Pharmaceutical by 94.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,256 shares of the company’s stock worth $99,000 after buying an additional 1,097 shares during the last quarter. Aperio Group LLC bought a new position in Biohaven Pharmaceutical during the 2nd quarter worth approximately $71,000. Finally, Public Employees Retirement Association of Colorado bought a new position in Biohaven Pharmaceutical during the 2nd quarter worth approximately $292,000. 95.08% of the stock is owned by institutional investors.

Biohaven Pharmaceutical Company 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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Analyst Recommendations for Biohaven Pharmaceutical (NYSE:BHVN)

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