Myriad Asset Management Ltd. raised its position in Biohaven Pharmaceutical Holding Company Ltd. (NYSE:BHVN – Get Rating) by 53.7% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 22,127 shares of the company's stock after purchasing an additional 7,727 shares during the period. Biohaven Pharmaceutical accounts for approximately 0.4% of Myriad Asset Management Ltd.'s portfolio, making the stock its 26th biggest holding. Myriad Asset Management Ltd.'s holdings in Biohaven Pharmaceutical were worth $2,624,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital World Investors lifted its holdings in Biohaven Pharmaceutical by 1.9% in the 4th quarter. Capital World Investors now owns 6,178,009 shares of the company's stock valued at $851,391,000 after purchasing an additional 115,628 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Biohaven Pharmaceutical by 0.5% during the 1st quarter. BlackRock Inc. now owns 4,656,866 shares of the company's stock worth $552,163,000 after acquiring an additional 21,586 shares during the period. Stifel Financial Corp raised its holdings in shares of Biohaven Pharmaceutical by 1.9% during the 4th quarter. Stifel Financial Corp now owns 3,049,995 shares of the company's stock worth $420,319,000 after acquiring an additional 55,650 shares during the period. Marshall Wace LLP raised its holdings in shares of Biohaven Pharmaceutical by 3.0% during the 4th quarter. Marshall Wace LLP now owns 2,798,457 shares of the company's stock worth $385,657,000 after acquiring an additional 80,272 shares during the period. Finally, State Street Corp raised its holdings in shares of Biohaven Pharmaceutical by 11.0% during the 4th quarter. State Street Corp now owns 1,647,694 shares of the company's stock worth $227,069,000 after acquiring an additional 162,764 shares during the period. Hedge funds and other institutional investors own 78.19% of the company's stock.
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In related news, Director Gregory Bailey bought 38,000 shares of the company's stock in a transaction dated Friday, August 19th. The shares were acquired at an average price of $148.04 per share, with a total value of $5,625,520.00. Following the completion of the acquisition, the director now owns 2,583,658 shares in the company, valued at approximately $382,484,730.32. The transaction was disclosed in a document filed with the SEC, which is available through this link. 12.40% of the stock is owned by company insiders.
Analyst Ratings Changes
Several research firms have recently commented on BHVN. Piper Sandler lowered Biohaven Pharmaceutical from an "overweight" rating to a "neutral" rating and set a $149.00 price target on the stock. in a report on Thursday, August 18th. 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. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $157.17.Biohaven Pharmaceutical Price Performance
Shares of Biohaven Pharmaceutical stock opened at $150.71 on Friday. The business has a 50-day simple moving average of $147.28 and a 200-day simple moving average of $133.13. Biohaven Pharmaceutical Holding Company Ltd. has a one year low of $79.01 and a one year high of $151.51.
Biohaven Pharmaceutical (NYSE:BHVN – Get Rating) last issued its quarterly earnings data on Friday, August 5th. The company reported ($6.21) earnings per share for the quarter, missing analysts' consensus estimates of ($2.79) by ($3.42). The business had revenue of $215.08 million during the quarter, compared to the consensus estimate of $209.33 million. As a group, equities research analysts forecast that Biohaven Pharmaceutical Holding Company Ltd. will post -13.29 earnings per share for the current year.
About Biohaven Pharmaceutical
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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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