Biohaven Pharmaceutical (BHVN) Stock Rating Lowered by Zacks Investment Research

Biohaven Pharmaceutical (NYSE:BHVN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” 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. “

A number of other equities research analysts have also issued reports on the stock. Cantor Fitzgerald restated a “buy” rating and issued a $57.00 target price on shares of Biohaven Pharmaceutical in a research note on Friday, October 12th. Morgan Stanley restated a “buy” rating and issued a $47.00 target price on shares of Biohaven Pharmaceutical in a research note on Thursday, October 11th. ValuEngine upgraded shares of Biohaven Pharmaceutical from a “hold” rating to a “buy” rating in a research note on Wednesday, October 3rd. Piper Jaffray Companies set a $65.00 target price on shares of Biohaven Pharmaceutical and gave the company a “buy” rating in a research note on Wednesday, September 12th. Finally, Canaccord Genuity restated a “buy” rating and issued a $43.00 target price on shares of Biohaven Pharmaceutical in a research note on Friday, August 17th. Two analysts have rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company. Biohaven Pharmaceutical currently has a consensus rating of “Hold” and an average target price of $47.57.

Shares of Biohaven Pharmaceutical stock opened at $36.05 on Tuesday. The stock has a market capitalization of $1.51 billion, a PE ratio of -7.21 and a beta of 1.47. Biohaven Pharmaceutical has a 1 year low of $16.50 and a 1 year high of $44.28.

Biohaven Pharmaceutical (NYSE:BHVN) last issued its earnings results on Tuesday, August 14th. The company reported ($1.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.68) by $0.67. Sell-side analysts forecast that Biohaven Pharmaceutical will post -5.41 earnings per share for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in Biohaven Pharmaceutical by 10.7% during the second quarter. BlackRock Inc. now owns 2,090,388 shares of the company’s stock worth $82,613,000 after acquiring an additional 201,780 shares during the period. VHCP Management II LLC raised its stake in Biohaven Pharmaceutical by 1.8% during the second quarter. VHCP Management II LLC now owns 1,415,391 shares of the company’s stock worth $55,936,000 after acquiring an additional 25,000 shares during the period. FMR LLC raised its stake in Biohaven Pharmaceutical by 166.6% during the second quarter. FMR LLC now owns 1,354,064 shares of the company’s stock worth $53,513,000 after acquiring an additional 846,141 shares during the period. Emerald Advisers Inc. PA raised its stake in Biohaven Pharmaceutical by 11.6% during the second quarter. Emerald Advisers Inc. PA now owns 405,364 shares of the company’s stock worth $16,020,000 after acquiring an additional 42,115 shares during the period. Finally, Eventide Asset Management LLC raised its stake in Biohaven Pharmaceutical by 43.0% during the first quarter. Eventide Asset Management LLC now owns 346,000 shares of the company’s stock worth $8,913,000 after acquiring an additional 104,000 shares during the period. Hedge funds and other institutional investors own 80.85% of the company’s stock.

Biohaven Pharmaceutical Company 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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