Needham & Company LLC Boosts Biohaven Pharmaceutical (BHVN) Price Target to $70.00

Biohaven Pharmaceutical (NYSE:BHVN) had its target price lifted by Needham & Company LLC to $70.00 in a research note published on Wednesday morning, The Fly reports. Needham & Company LLC currently has a buy rating on the stock.

A number of other research analysts have also weighed in on BHVN. Zacks Investment Research upgraded Biohaven Pharmaceutical from a hold rating to a buy rating and set a $40.00 price objective for the company in a research report on Tuesday, January 15th. ValuEngine upgraded Biohaven Pharmaceutical from a hold rating to a buy rating in a research report on Monday, February 4th. Cantor Fitzgerald restated a buy rating and set a $75.00 price objective on shares of Biohaven Pharmaceutical in a research report on Friday, February 8th. Oppenheimer reiterated a buy rating on shares of Biohaven Pharmaceutical in a research report on Tuesday, March 19th. Finally, Piper Jaffray Companies set a $75.00 price target on Biohaven Pharmaceutical and gave the stock a buy rating in a research report on Monday, March 18th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $69.19.

Shares of Biohaven Pharmaceutical stock opened at $62.68 on Wednesday. The stock has a market cap of $2.81 billion, a PE ratio of -10.19 and a beta of 0.60. Biohaven Pharmaceutical has a twelve month low of $26.60 and a twelve month high of $64.83.

Biohaven Pharmaceutical (NYSE:BHVN) last issued its quarterly earnings data on Tuesday, May 7th. The company reported ($1.41) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($1.50) by $0.09. During the same period in the previous year, the business posted ($2.32) EPS. As a group, sell-side analysts forecast that Biohaven Pharmaceutical will post -6.62 EPS for the current year.

In related news, Director Declan Doogan sold 88,825 shares of Biohaven Pharmaceutical stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $58.42, for a total value of $5,189,156.50. Following the completion of the transaction, the director now owns 373,913 shares in the company, valued at $21,843,997.46. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Julia P. Gregory sold 12,000 shares of the business’s stock in a transaction that occurred on Thursday, February 21st. The shares were sold at an average price of $43.56, for a total value of $522,720.00. Following the transaction, the director now owns 12,000 shares of the company’s stock, valued at approximately $522,720. The disclosure for this sale can be found here. In the last quarter, insiders sold 437,856 shares of company stock valued at $22,279,475. 23.90% of the stock is currently owned by company insiders.

Several large investors have recently made changes to their positions in the business. BlackRock Inc. boosted its position in shares of Biohaven Pharmaceutical by 19.5% during the first quarter. BlackRock Inc. now owns 2,858,893 shares of the company’s stock valued at $147,149,000 after buying an additional 465,745 shares during the period. Stifel Financial Corp boosted its position in shares of Biohaven Pharmaceutical by 555.2% during the fourth quarter. Stifel Financial Corp now owns 2,719,538 shares of the company’s stock valued at $100,569,000 after buying an additional 2,304,438 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Biohaven Pharmaceutical by 7.4% during the third quarter. JPMorgan Chase & Co. now owns 1,532,361 shares of the company’s stock valued at $57,540,000 after buying an additional 105,913 shares during the period. Samlyn Capital LLC boosted its position in shares of Biohaven Pharmaceutical by 32.8% during the fourth quarter. Samlyn Capital LLC now owns 921,536 shares of the company’s stock valued at $34,078,000 after buying an additional 227,432 shares during the period. Finally, Foresite Capital Management IV LLC boosted its position in shares of Biohaven Pharmaceutical by 0.6% during the fourth quarter. Foresite Capital Management IV LLC now owns 855,900 shares of the company’s stock valued at $31,651,000 after buying an additional 4,700 shares during the period. Institutional investors and hedge funds own 84.86% 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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Analyst Recommendations for Biohaven Pharmaceutical (NYSE:BHVN)

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