Stock Traders Purchase Large Volume of Put Options on Biohaven Pharmaceutical (BHVN)

Biohaven Pharmaceutical Holding Co Ltd (NYSE:BHVN) saw some unusual options trading activity on Thursday. Investors acquired 4,222 put options on the company. This represents an increase of approximately 1,326% compared to the typical volume of 296 put options.

Shares of Biohaven Pharmaceutical stock opened at $45.38 on Friday. Biohaven Pharmaceutical has a 52-week low of $16.50 and a 52-week high of $45.46. The company has a market capitalization of $1.77 billion, a PE ratio of -9.08 and a beta of 0.38.

Biohaven Pharmaceutical (NYSE:BHVN) last issued its quarterly earnings data on Wednesday, November 14th. The company reported ($1.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.05) by ($0.48). As a group, research analysts forecast that Biohaven Pharmaceutical will post -6.05 earnings per share for the current year.

BHVN has been the topic of a number of research reports. Cantor Fitzgerald reissued a “buy” rating and set a $65.00 target price on shares of Biohaven Pharmaceutical in a research report on Monday, December 3rd. Leerink Swann initiated coverage on shares of Biohaven Pharmaceutical in a research report on Monday, November 12th. They set an “outperform” rating and a $50.00 target price on the stock. Piper Jaffray Companies reissued a “buy” rating and set a $65.00 target price on shares of Biohaven Pharmaceutical in a research report on Wednesday, October 24th. Zacks Investment Research raised shares of Biohaven Pharmaceutical from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a research report on Tuesday, January 15th. Finally, Oppenheimer initiated coverage on shares of Biohaven Pharmaceutical in a research report on Monday, November 12th. They set a “buy” rating and a $63.00 target price on the stock. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $51.33.

In related news, insider John Tilton sold 10,500 shares of Biohaven Pharmaceutical stock in a transaction dated Thursday, January 10th. The shares were sold at an average price of $37.67, for a total transaction of $395,535.00. Following the completion of the sale, the insider now owns 10,500 shares in the company, valued at approximately $395,535. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Declan Doogan sold 40,000 shares of Biohaven Pharmaceutical stock in a transaction dated Wednesday, February 13th. The shares were sold at an average price of $44.31, for a total transaction of $1,772,400.00. The disclosure for this sale can be found here. Company insiders own 34.20% of the company’s stock.

Several institutional investors have recently modified their holdings of BHVN. Flinton Capital Management LLC purchased a new position in shares of Biohaven Pharmaceutical in the 4th quarter worth approximately $42,000. Neuburgh Advisers LLC purchased a new position in shares of Biohaven Pharmaceutical in the 4th quarter worth approximately $52,000. Tower Research Capital LLC TRC grew its position in shares of Biohaven Pharmaceutical by 602.4% in the 3rd quarter. Tower Research Capital LLC TRC now owns 5,057 shares of the company’s stock worth $190,000 after buying an additional 4,337 shares during the last quarter. Legal & General Group Plc grew its position in shares of Biohaven Pharmaceutical by 14.1% in the 4th quarter. Legal & General Group Plc now owns 5,284 shares of the company’s stock worth $196,000 after buying an additional 652 shares during the last quarter. Finally, Shell Asset Management Co. purchased a new position in shares of Biohaven Pharmaceutical in the 3rd quarter worth approximately $205,000. 77.70% of the stock is currently owned by hedge funds and other institutional investors.

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Biohaven Pharmaceutical Company Profile

Biohaven Pharmaceutical Holding Company Ltd., a clinical-stage biopharmaceutical company, develops product candidates to treat neurological diseases, including rare disorders. Its lead product candidate is rimegepant, which is in Phase III clinical trials for the acute treatment of migraine. The company also develops trigriluzole, which is in a Phase II/III clinical trial used for the treatment of ataxias with an initial focus on spinocerebellar ataxia; and Phase II/III clinical trial for the treatment of obsessive compulsive disorders, as well as for the treatment of Alzheimer's diseases.

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