Needham Sticks to Its Buy Rating for Biohaven Pharmaceutical Holding Co (BHVN)

Needham analyst Alan Carr maintained a Buy rating on Biohaven Pharmaceutical Holding Co (BHVNResearch Report) today and set a price target of $70.00. The company’s shares closed last Monday at $46.62.

According to TipRanks.com, Carr is a 2-star analyst with an average return of 0.2% and a 43.3% success rate. Carr covers the Healthcare sector, focusing on stocks such as Lexicon Pharmaceuticals, ACADIA Pharmaceuticals, and Vertex Pharmaceuticals.

Biohaven Pharmaceutical Holding Co has an analyst consensus of Strong Buy, with a price target consensus of $74.67, which is a 56.8% upside from current levels. In a report issued on October 28, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $92.00 price target.

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Based on Biohaven Pharmaceutical Holding Co’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $211 million. In comparison, last year the company had a GAAP net loss of $61.44 million.

Based on the recent corporate insider activity of 22 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of BHVN in relation to earlier this year.

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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.