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New York State Common Retirement Fund Boosts Stock Holdings in Biohaven Pharmaceutical Holding Company Ltd. (NYSE:BHVN)

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New York State Common Retirement Fund raised its holdings in Biohaven Pharmaceutical Holding Company Ltd. (NYSE:BHVN) by 12.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 65,049 shares of the company’s stock after purchasing an additional 7,144 shares during the period. New York State Common Retirement Fund owned 0.10% of Biohaven Pharmaceutical worth $9,036,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of BHVN. Tygh Capital Management Inc. grew its stake in Biohaven Pharmaceutical by 1.4% during the third quarter. Tygh Capital Management Inc. now owns 29,197 shares of the company’s stock valued at $4,056,000 after acquiring an additional 389 shares in the last quarter. SG Americas Securities LLC grew its stake in Biohaven Pharmaceutical by 115.1% during the third quarter. SG Americas Securities LLC now owns 20,014 shares of the company’s stock valued at $2,780,000 after acquiring an additional 10,709 shares in the last quarter. Janney Montgomery Scott LLC purchased a new position in Biohaven Pharmaceutical during the third quarter valued at approximately $289,000. ShoreHaven Wealth Partners LLC purchased a new position in Biohaven Pharmaceutical during the third quarter valued at approximately $251,000. Finally, Emerald Mutual Fund Advisers Trust purchased a new position in Biohaven Pharmaceutical during the third quarter valued at approximately $31,310,000. Hedge funds and other institutional investors own 91.05% of the company’s stock.

NYSE:BHVN opened at $139.16 on Tuesday. The company has a fifty day moving average of $123.87 and a 200 day moving average of $124.16. Biohaven Pharmaceutical Holding Company Ltd. has a 52 week low of $62.57 and a 52 week high of $151.51. The firm has a market capitalization of $9.12 billion, a P/E ratio of -10.17 and a beta of 1.03.

Biohaven Pharmaceutical (NYSE:BHVN) last posted its quarterly earnings results on Monday, November 8th. The company reported ($2.63) EPS for the quarter, missing the Zacks’ consensus estimate of ($2.40) by ($0.23). The company had revenue of $135.74 million for the quarter, compared to the consensus estimate of $128.40 million. During the same period in the prior year, the company earned ($3.27) EPS. The firm’s revenue was up 668.5% compared to the same quarter last year. Research analysts predict that Biohaven Pharmaceutical Holding Company Ltd. will post -12.33 EPS for the current fiscal year.

A number of research firms have commented on BHVN. Piper Sandler boosted their price target on shares of Biohaven Pharmaceutical from $140.00 to $156.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 5th. Mizuho boosted their price target on shares of Biohaven Pharmaceutical from $135.00 to $144.00 and gave the stock a “buy” rating in a research note on Thursday, November 18th. The Goldman Sachs Group boosted their price target on shares of Biohaven Pharmaceutical from $151.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, October 6th. SVB Leerink reissued a “buy” rating on shares of Biohaven Pharmaceutical in a research note on Thursday, October 7th. Finally, HC Wainwright reissued a “buy” rating and issued a $160.00 price target on shares of Biohaven Pharmaceutical in a research note on Tuesday, December 7th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Biohaven Pharmaceutical has a consensus rating of “Buy” and a consensus target price of $142.64.

In other Biohaven Pharmaceutical news, Director Julia P. Gregory sold 12,000 shares of the business’s stock in a transaction on Monday, December 20th. The shares were sold at an average price of $125.00, for a total transaction of $1,500,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO George C. Clark sold 1,915 shares of the business’s stock in a transaction on Monday, December 20th. The shares were sold at an average price of $123.84, for a total transaction of $237,153.60. The disclosure for this sale can be found here. Insiders have sold a total of 133,099 shares of company stock valued at $14,807,430 over the last quarter. 15.20% of the stock is currently owned by company insiders.

Biohaven Pharmaceutical Company Profile

Biohaven Pharmaceutical Holding Co Ltd. is a clinical-stage biopharmaceutical company, which engages in the research and development of late-stage product candidates targeting neurological diseases, including rare disorders. It focuses on a pipeline of product candidates that represent mechanistic platforms, calcitonin gene-related peptide receptor antagonists, and glutamate modulators.

Read More: Stock Ratings and Recommendations: Understanding Analyst Upgrades and Downgrades

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