Recent Analysts’ Ratings Changes for Biohaven Pharmaceutical (BHVN)

Biohaven Pharmaceutical (NYSE: BHVN) has recently received a number of price target changes and ratings updates:

  • 5/22/2018 – Biohaven Pharmaceutical had its “buy” rating reaffirmed by analysts at Canaccord Genuity. They now have a $35.00 price target on the stock. They wrote, “We continue to like BHVN stock heading into additional rimegepant data later this year and are reiterating our BUY rating. Our BHVN valuation continues to include no specific value for BHV-3500 (acute treatment and migraine prevention; Phase 1 trial initiation in 1H18) or other products ex-sublingual riluzole for amyotrophic lateral sclerosis (ALS). on oral anti-CGRPs extends beyond acute treatment Some key opinion leaders (KOLs) that we spoke with at the recent Neurology (AAN) meeting in April were enthusiastic about the potential for oral anti-CGRPs in migraine prevention. These physicians also said they would be closely watching oral anti-CGRPs for the acute treatment of migraine such as rimegepant, if approved, for an early read on real-world usage of oral anti-CGRPs in potentially preventing migraines.””
  • 5/16/2018 – Biohaven Pharmaceutical was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. 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. “
  • 5/16/2018 – Biohaven Pharmaceutical was given a new $35.00 price target on by analysts at Canaccord Genuity. They now have a “buy” rating on the stock.
  • 5/16/2018 – Biohaven Pharmaceutical had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $36.00 price target on the stock. They wrote, “Biohaven released financial results yesterday and we spoke w/ mgmt for an update. Top-line results from remaining Phase 3 Migraine trials of rimegepant (1-year safety trial and orally disintegrating tablet [ODT] trial) are still expected 4Q18. We expect data from these trials as well as from the ubrogepant open-label long-term extension trial later this yr to provide a more complete picture of safety and efficacy profiles. We currently view both the Biohaven and Allergan drugs as competitive, but acknowledge lower pain figures for rimegepant at 2hrs after administration. Mgmt is exploring partnership options for rimegepant, although we currently assume in our model that the drug will be commercialized by Biohaven. Reiterate BUY.””
  • 5/2/2018 – Biohaven Pharmaceutical was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.
  • 4/27/2018 – Biohaven Pharmaceutical was given a new $34.00 price target on by analysts at Canaccord Genuity. They now have a “buy” rating on the stock.
  • 4/17/2018 – Biohaven Pharmaceutical was downgraded by analysts at Zacks Investment Research from a “strong-buy” rating to a “hold” rating. 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. “
  • 4/5/2018 – Biohaven Pharmaceutical was downgraded by analysts at Barclays PLC from an “overweight” rating to an “equal weight” rating. They now have a $25.00 price target on the stock, down previously from $30.00.
  • 3/26/2018 – Biohaven Pharmaceutical had its “buy” rating reaffirmed by analysts at Piper Jaffray Companies.
  • 3/26/2018 – Biohaven Pharmaceutical had its “buy” rating reaffirmed by analysts at Canaccord Genuity. They now have a $34.00 price target on the stock, down previously from $39.00.

Shares of BHVN traded up $1.07 during midday trading on Thursday, hitting $34.54. 391,153 shares of the company’s stock traded hands, compared to its average volume of 642,979. Biohaven Pharmaceutical has a 1 year low of $16.50 and a 1 year high of $39.51. The firm has a market cap of $1.29 billion and a PE ratio of -6.91.

Biohaven Pharmaceutical (NYSE:BHVN) last issued its quarterly earnings data on Tuesday, May 15th. The company reported ($2.32) EPS for the quarter, missing the consensus estimate of ($1.12) by ($1.20). research analysts forecast that Biohaven Pharmaceutical will post -4.81 earnings per share for the current fiscal year.

In related news, CFO James Engelhart sold 2,500 shares of the company’s stock in a transaction on Monday, May 7th. The stock was sold at an average price of $27.67, for a total value of $69,175.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Kimberly Gentile sold 5,000 shares of the company’s stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $32.87, for a total value of $164,350.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 112,500 shares of company stock valued at $3,089,175. Company insiders own 34.20% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BHVN. California State Teachers Retirement System acquired a new position in shares of Biohaven Pharmaceutical in the 3rd quarter valued at $635,000. American Century Companies Inc. increased its position in shares of Biohaven Pharmaceutical by 55.6% in the 4th quarter. American Century Companies Inc. now owns 57,216 shares of the company’s stock valued at $1,544,000 after acquiring an additional 20,444 shares during the period. Emerald Advisers Inc. PA increased its position in shares of Biohaven Pharmaceutical by 52.0% in the 4th quarter. Emerald Advisers Inc. PA now owns 369,782 shares of the company’s stock valued at $9,977,000 after acquiring an additional 126,455 shares during the period. Swiss National Bank acquired a new position in shares of Biohaven Pharmaceutical in the 4th quarter valued at $413,000. Finally, Candriam Luxembourg S.C.A. acquired a new position in shares of Biohaven Pharmaceutical in the 4th quarter valued at $2,158,000. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

Biohaven Pharmaceutical Holding Company Ltd., a clinical-stage biopharmaceutical company, develops product candidates to treat neurological diseases, including rare disorders. Its lead product candidate is rimegepant, which is in Phase III clinical trials for the acute treatment of migraine. The company also develops trigriluzole, which is in a Phase II/III clinical trial used for the treatment of ataxias with an initial focus on spinocerebellar ataxia; and Phase II/III clinical trial for the treatment of obsessive compulsive disorders, as well as for the treatment of Alzheimer's diseases.

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