Biohaven Pharmaceutical Holding Company Ltd. (NYSE: BHVN) benefited from a significant drop in short-term interest in January. As of January 31, there was short interest totaling 3,720,000 shares, a decrease of 17.1% from the total of 4,490,000 shares as of January 15. Based on an average daily trading volume of 687,200 shares, the short interest ratio is currently 5.4 days. Currently, 6.2% of the stock’s shares are sold short.
Several brokerages have recently published reports on BHVN. HC Wainwright reissued a “buy” rating and set a $160.00 price target on Biohaven Pharmaceutical shares in a research note on Friday, January 7. Mizuho raised its price target on Biohaven Pharmaceutical shares from $135.00 to $144.00 and gave the company a “buy” rating in a Thursday, November 18 research note. Morgan Stanley raised its price target on Biohaven Pharmaceutical shares from $145.00 to $148.00 and gave the company an “equal weight” rating in a Friday, January 7 research note. UBS Group raised its price target on shares of Biohaven Pharmaceutical from $150.00 to $160.00 in a research note on Tuesday, January 4. Finally, Cantor Fitzgerald raised his price target on Biohaven Pharmaceutical shares from $165.00 to $177.00 and gave the company an “overweight” rating in a Wednesday, Nov. 10 research note. Three equity research analysts gave the stock a hold rating and eight gave the company a buy rating. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $147.55.
NYSE BHVN was down $1.33 during Friday trading hours, hitting $139.61. 442,989 shares of the company were traded, against an average volume of 665,923. Biohaven Pharmaceutical has a 12-month low of $62.57 and a 12-month high of $151.51. The stock has a market capitalization of $9.14 billion, a PE ratio of -10.20 and a beta of 1.04. The company has a 50-day moving average of $127.62 and a two-hundred-day moving average of $127.64.
In other Biohaven Pharmaceutical news, CFO James Engelhart sold 35,000 shares of the company in a transaction dated Friday, December 10. The shares were sold at an average price of $102.55, for a total value of $3,589,250.00. The sale was disclosed in an SEC filing, available at the SEC website. Also, director Julia P. Gregory sold 12,000 shares of the company in a transaction dated Monday, December 20. The shares were sold at an average price of $125.00, for a total transaction of $1,500,000.00. Disclosure of this sale can be found here. In the past three months, insiders have sold 104,734 shares of the company worth $11,502,028. 15.20% of the shares are held by insiders.
Hedge funds and other institutional investors have recently been buying and selling shares of the company. National Bank of Canada FI bought a new position in Biohaven Pharmaceutical during the 4th quarter at a value of $28,000. Elkhorn Partners Limited Partnership bought a new position in Biohaven Pharmaceutical during Q4 at a value of $48,000. Harbor Investment Advisory LLC increased its stake in Biohaven Pharmaceutical by 31.1% during the third quarter. Harbor Investment Advisory LLC now owns 468 shares of the company valued at $65,000 after acquiring 111 additional shares in the last quarter. Montag A & Associates Inc. bought a new position in Biohaven Pharmaceutical during Q3 at a value of $96,000. Finally, the Canada Pension Plan Investment Board bought a new position in Biohaven Pharmaceutical during the 4th quarter for a value of $104,000. Hedge funds and other institutional investors hold 91.73% of the company’s shares.
About Biohaven Pharmaceutical
Biohaven Pharmaceutical Holding Co Ltd. is a clinical-stage biopharmaceutical company, dedicated to the research and development of late-stage product candidates targeting neurological diseases, including rare diseases. It is focused on a pipeline of product candidates that represent mechanistic platforms, calcitonin gene-linked peptide receptor antagonists and glutamate modulators.
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