Biohaven Pharmaceutical (BHVN) Given New $70.00 Price Target at Oppenheimer
Biohaven Pharmaceutical (NYSE:BHVN) had its target price boosted by Oppenheimer from $54.00 to $70.00 in a report issued on Monday, The Fly reports. They currently have an outperform rating on the stock.
A number of other equities analysts have also issued reports on the company. Cantor Fitzgerald upped their target price on Biohaven Pharmaceutical to $82.00 and gave the company an overweight rating in a research report on Wednesday, March 6th. Zacks Investment Research raised Biohaven Pharmaceutical from a hold rating to a buy rating and set a $40.00 target price on the stock in a research report on Tuesday, January 15th. Needham & Company LLC reaffirmed a buy rating and issued a $56.00 target price (up from $48.00) on shares of Biohaven Pharmaceutical in a research report on Monday, March 4th. Piper Jaffray Companies set a $75.00 target price on Biohaven Pharmaceutical and gave the company a buy rating in a research report on Monday, March 18th. Finally, Barclays reaffirmed a hold rating and issued a $52.00 target price on shares of Biohaven Pharmaceutical in a research report on Tuesday, March 19th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Biohaven Pharmaceutical has an average rating of Buy and an average target price of $62.57.
Biohaven Pharmaceutical stock opened at $59.92 on Monday. The company has a market cap of $2.60 billion, a P/E ratio of -9.74 and a beta of 0.50. Biohaven Pharmaceutical has a one year low of $25.60 and a one year high of $60.95.
In related news, Director Julia P. Gregory sold 12,000 shares of the firm’s stock in a transaction on Thursday, February 21st. The stock was sold at an average price of $43.56, for a total transaction of $522,720.00. Following the transaction, the director now directly owns 12,000 shares in the company, valued at $522,720. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Vlad Coric sold 100,000 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $50.09, for a total value of $5,009,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 310,206 shares of company stock worth $14,996,874. 34.20% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Stifel Financial Corp increased its position in Biohaven Pharmaceutical by 555.2% in the fourth quarter. Stifel Financial Corp now owns 2,719,538 shares of the company’s stock worth $100,569,000 after buying an additional 2,304,438 shares during the period. BlackRock Inc. increased its position in Biohaven Pharmaceutical by 10.4% in the fourth quarter. BlackRock Inc. now owns 2,393,148 shares of the company’s stock worth $88,499,000 after buying an additional 225,386 shares during the period. JPMorgan Chase & Co. increased its position in Biohaven Pharmaceutical by 7.4% in the third quarter. JPMorgan Chase & Co. now owns 1,532,361 shares of the company’s stock worth $57,540,000 after buying an additional 105,913 shares during the period. Samlyn Capital LLC increased its position in Biohaven Pharmaceutical by 32.8% in the fourth quarter. Samlyn Capital LLC now owns 921,536 shares of the company’s stock worth $34,078,000 after buying an additional 227,432 shares during the period. Finally, Foresite Capital Management IV LLC increased its position in Biohaven Pharmaceutical by 0.6% in the fourth quarter. Foresite Capital Management IV LLC now owns 855,900 shares of the company’s stock worth $31,651,000 after buying an additional 4,700 shares during the period. Hedge funds and other institutional investors own 88.91% of the company’s stock.
Biohaven Pharmaceutical Company Profile
Biohaven Pharmaceutical Holding Company Ltd., a clinical-stage biopharmaceutical company, develops late-stage products candidates targeting neurological diseases in the United States. Its clinical stage products include Rimegepant, a product that has completed phase III trials and is in long-term safety ongoing process for acute treatment and prevention of migraine; BHV-3500 that has completed phase I clinical trial for acute treatment and prevention of migraine; and Troriluzole that has completed II/III randomization phase and is ongoing extension trial for ataxias.
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