Zacks Investment Research downgraded shares of Biohaven Pharmaceutical (NYSE:BHVN) from a hold rating to a sell rating in a report released on Tuesday morning.

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 analysts have also recently issued reports on the stock. Needham & Company LLC reissued a buy rating and set a $48.00 price objective on shares of Biohaven Pharmaceutical in a research report on Friday, August 17th. Cantor Fitzgerald started coverage on shares of Biohaven Pharmaceutical in a research report on Thursday, August 23rd. They set an overweight rating and a $55.00 price objective on the stock. Morgan Stanley increased their price objective on shares of Biohaven Pharmaceutical from $44.00 to $45.00 and gave the stock an overweight rating in a research report on Tuesday, September 11th. Piper Jaffray Companies set a $65.00 price objective on shares of Biohaven Pharmaceutical and gave the stock a buy rating in a research report on Wednesday, September 12th. Finally, Canaccord Genuity reissued a buy rating and set a $43.00 price objective on shares of Biohaven Pharmaceutical in a research report on Friday, August 17th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $47.57.

BHVN stock opened at $34.98 on Tuesday. The stock has a market cap of $1.45 billion, a PE ratio of -7.09 and a beta of 1.46. Biohaven Pharmaceutical has a 1 year low of $16.50 and a 1 year high of $44.28.

Biohaven Pharmaceutical (NYSE:BHVN) last released its quarterly earnings data on Tuesday, August 14th. The company reported ($1.01) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($1.68) by $0.67. On average, research analysts forecast that Biohaven Pharmaceutical will post -5.41 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. United Services Automobile Association lifted its position in Biohaven Pharmaceutical by 20.1% in the 2nd quarter. United Services Automobile Association now owns 16,420 shares of the company’s stock valued at $649,000 after acquiring an additional 2,743 shares in the last quarter. Northern Trust Corp lifted its position in Biohaven Pharmaceutical by 6.6% in the 2nd quarter. Northern Trust Corp now owns 323,923 shares of the company’s stock valued at $12,802,000 after acquiring an additional 20,093 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Biohaven Pharmaceutical by 16.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 141,762 shares of the company’s stock valued at $5,603,000 after acquiring an additional 20,364 shares in the last quarter. Jane Street Group LLC lifted its position in Biohaven Pharmaceutical by 34.9% in the 2nd quarter. Jane Street Group LLC now owns 16,884 shares of the company’s stock valued at $667,000 after acquiring an additional 4,365 shares in the last quarter. Finally, California Public Employees Retirement System bought a new position in Biohaven Pharmaceutical in the 2nd quarter valued at about $790,000. 80.81% of the stock is currently owned by institutional investors and hedge funds.

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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