Zacks Investment Research Lowers Biohaven Pharmaceutical (BHVN) to Hold

Zacks Investment Research cut shares of Biohaven Pharmaceutical (NYSE:BHVN) from a buy rating to a hold rating in a report released 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. “

BHVN has been the topic of a number of other research reports. BidaskClub cut Biohaven Pharmaceutical from a buy rating to a hold rating in a research note on Thursday, October 5th. Piper Jaffray Companies restated a buy rating and set a $54.00 price objective on shares of Biohaven Pharmaceutical in a research note on Tuesday, September 12th. Canaccord Genuity began coverage on Biohaven Pharmaceutical in a research note on Friday, December 15th. They set a buy rating and a $30.00 price objective on the stock. William Blair restated an outperform rating on shares of Biohaven Pharmaceutical in a research note on Tuesday, October 3rd. Finally, Needham & Company LLC reduced their price objective on Biohaven Pharmaceutical from $43.00 to $36.00 and set a buy rating on the stock in a research note on Tuesday, October 3rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $36.14.

Biohaven Pharmaceutical (NYSE:BHVN) opened at $28.10 on Tuesday. Biohaven Pharmaceutical has a one year low of $17.00 and a one year high of $39.51.

In other news, insider Robert Berman sold 160,000 shares of Biohaven Pharmaceutical stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $25.76, for a total transaction of $4,121,600.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Vlad Coric sold 150,000 shares of Biohaven Pharmaceutical stock in a transaction dated 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 ninety days, insiders have sold 513,561 shares of company stock worth $13,822,105.

Institutional investors have recently made changes to their positions in the stock. Legal & General Group Plc bought a new stake in Biohaven Pharmaceutical in the third quarter valued at about $119,000. Nationwide Fund Advisors bought a new stake in Biohaven Pharmaceutical in the third quarter valued at about $214,000. American International Group Inc. bought a new stake in Biohaven Pharmaceutical in the third quarter valued at about $251,000. State of Wisconsin Investment Board bought a new stake in Biohaven Pharmaceutical in the third quarter valued at about $262,000. Finally, Susquehanna International Group LLP bought a new stake in Biohaven Pharmaceutical in the third quarter valued at about $302,000. 47.76% of the stock is owned by hedge funds and other institutional investors.

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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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