FNY Investment Advisers LLC acquired a new position in shares of Biohaven Pharmaceutical Holding Company Ltd. (NYSE:BHVN – Get Rating) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 9,880 shares of the company's stock, valued at approximately $1,439,000. Biohaven Pharmaceutical makes up about 1.1% of FNY Investment Advisers LLC's investment portfolio, making the stock its 25th biggest position.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Thrivent Financial for Lutherans purchased a new stake in Biohaven Pharmaceutical in the fourth quarter worth approximately $93,941,000. Viking Global Investors LP boosted its stake in Biohaven Pharmaceutical by 177.0% in the first quarter. Viking Global Investors LP now owns 966,139 shares of the company's stock worth $114,555,000 after buying an additional 617,356 shares in the last quarter. American Century Companies Inc. lifted its position in Biohaven Pharmaceutical by 259.4% in the first quarter. American Century Companies Inc. now owns 684,834 shares of the company's stock valued at $81,201,000 after purchasing an additional 494,275 shares during the last quarter. Capital World Investors lifted its position in Biohaven Pharmaceutical by 7.5% in the first quarter. Capital World Investors now owns 6,642,539 shares of the company's stock valued at $787,606,000 after purchasing an additional 464,530 shares during the last quarter. Finally, Eversept Partners LP lifted its position in Biohaven Pharmaceutical by 104.6% in the first quarter. Eversept Partners LP now owns 644,666 shares of the company's stock valued at $76,438,000 after purchasing an additional 329,537 shares during the last quarter. Hedge funds and other institutional investors own 78.19% of the company's stock.
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Wall Street Analyst Weigh In
Several analysts have weighed in on BHVN shares. Wedbush downgraded Biohaven Pharmaceutical from an "outperform" rating to a "neutral" rating and set a $148.50 price objective for the company. in a research report on Monday, August 8th. Piper Sandler downgraded Biohaven Pharmaceutical from an "overweight" rating to a "neutral" rating and set a $149.00 price objective for the company. in a research report on Thursday, August 18th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $157.17.
Biohaven Pharmaceutical Stock Up 0.1 %
Shares of NYSE BHVN traded up $0.15 during trading on Monday, reaching $151.22. The company had a trading volume of 15,763 shares, compared to its average volume of 1,018,473. Biohaven Pharmaceutical Holding Company Ltd. has a 12-month low of $79.01 and a 12-month high of $151.51. The stock has a market cap of $10.82 billion, a PE ratio of -10.19 and a beta of 1.04. The business's 50-day moving average is $147.83 and its 200 day moving average is $134.33.
Biohaven Pharmaceutical (NYSE:BHVN – Get Rating) last released its earnings results on Friday, August 5th. The company reported ($6.21) EPS for the quarter, missing analysts' consensus estimates of ($2.79) by ($3.42). The firm had revenue of $215.08 million during the quarter, compared to analysts' expectations of $209.33 million. On average, analysts anticipate that Biohaven Pharmaceutical Holding Company Ltd. will post -13.48 earnings per share for the current year.
Insider Activity at Biohaven Pharmaceutical
In other Biohaven Pharmaceutical news, Director Gregory Bailey acquired 38,000 shares of the company's stock in a transaction that occurred on Friday, August 19th. The shares were bought at an average cost of $148.04 per share, with a total value of $5,625,520.00. Following the completion of the transaction, the director now directly owns 2,583,658 shares of the company's stock, valued at approximately $382,484,730.32. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 12.40% of the stock is currently owned by insiders.
Biohaven Pharmaceutical Company Profile
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Biohaven Pharmaceutical Holding Company Ltd., a biopharmaceutical company, develops products candidates targeting neurological and neuropsychiatric diseases, and rare disorders in the United States. It offers NURTEC ODT (rimegepant) for the acute treatment of migraine, as well as developing Rimegepant for preventive treatment of migraine; Zavegepant that is in phase III clinical trials for acute and preventive treatment of migraine, as well as respiratory complications and non-migraine studies; and BHV-3100 for non-migraine indications.
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