Fmr LLC increased its position in shares of Biohaven Pharmaceutical Holding Co Ltd (NYSE:BHVN) by 166.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,354,064 shares of the company’s stock after buying an additional 846,141 shares during the quarter. Fmr LLC’s holdings in Biohaven Pharmaceutical were worth $53,513,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Wells Fargo & Company MN raised its position in Biohaven Pharmaceutical by 38.2% in the first quarter. Wells Fargo & Company MN now owns 41,184 shares of the company’s stock valued at $1,060,000 after purchasing an additional 11,373 shares during the period. Rhumbline Advisers raised its position in Biohaven Pharmaceutical by 218.4% in the first quarter. Rhumbline Advisers now owns 27,933 shares of the company’s stock valued at $720,000 after purchasing an additional 19,160 shares during the period. State Board of Administration of Florida Retirement System purchased a new stake in Biohaven Pharmaceutical in the first quarter valued at approximately $329,000. Swiss National Bank raised its position in Biohaven Pharmaceutical by 104.6% in the first quarter. Swiss National Bank now owns 31,300 shares of the company’s stock valued at $806,000 after purchasing an additional 16,000 shares during the period. Finally, State of Wisconsin Investment Board purchased a new stake in Biohaven Pharmaceutical in the first quarter valued at approximately $832,000. 80.85% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have issued reports on BHVN shares. ValuEngine raised Biohaven Pharmaceutical from a “hold” rating to a “buy” rating in a research report on Friday, June 1st. Piper Jaffray Companies set a $48.00 target price on Biohaven Pharmaceutical and gave the company a “buy” rating in a research report on Friday, June 8th. Cantor Fitzgerald started coverage on Biohaven Pharmaceutical in a research report on Monday, June 11th. They issued a “buy” rating and a $42.00 target price on the stock. Canaccord Genuity reissued a “buy” rating and issued a $40.00 target price on shares of Biohaven Pharmaceutical in a research report on Monday, June 11th. Finally, Zacks Investment Research raised Biohaven Pharmaceutical from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 13th. Two analysts have rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $47.29.
Biohaven Pharmaceutical Profile
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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