Biohaven (NYSE:BHVN) Releases Earnings Results, Misses Expectations By $0.03 EPS

Biohaven (NYSE:BHVN) released its quarterly earnings data on Tuesday. The company reported ($1.70) earnings per share for the quarter, missing the consensus estimate of ($1.67) by ($0.03), Zacks reports.

Biohaven Stock Up 2.3 %

BHVN stock traded up $1.12 during mid-day trading on Thursday, reaching $50.16. 168,643 shares of the company traded hands, compared to its average volume of 1,133,909. The stock has a market cap of $4.74 billion, a price-to-earnings ratio of -5.25 and a beta of 1.31. Biohaven has a fifty-two week low of $26.80 and a fifty-two week high of $62.21. The firm’s 50 day moving average price is $47.77 and its 200 day moving average price is $40.82.

Insider Buying and Selling

In other news, Director Gregory Bailey bought 5,000 shares of Biohaven stock in a transaction dated Tuesday, September 24th. The stock was purchased at an average price of $44.19 per share, for a total transaction of $220,950.00. Following the purchase, the director now directly owns 1,620,071 shares in the company, valued at $71,590,937.49. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Biohaven news, Director Gregory Bailey purchased 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The shares were bought at an average cost of $44.19 per share, for a total transaction of $220,950.00. Following the purchase, the director now owns 1,620,071 shares of the company’s stock, valued at $71,590,937.49. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John W. Childs bought 21,052 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were purchased at an average cost of $47.50 per share, for a total transaction of $999,970.00. Following the acquisition, the director now directly owns 21,052 shares in the company, valued at $999,970. The disclosure for this purchase can be found here. 16.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on BHVN shares. Robert W. Baird increased their price target on shares of Biohaven from $58.00 to $60.00 and gave the stock an “outperform” rating in a research report on Monday, September 23rd. Leerink Partners increased their price target on Biohaven from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Monday, September 23rd. William Blair upgraded shares of Biohaven to a “strong-buy” rating in a report on Friday, August 30th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Biohaven in a report on Wednesday, October 23rd. Finally, Morgan Stanley began coverage on shares of Biohaven in a report on Wednesday, July 24th. They issued an “overweight” rating and a $58.00 price target for the company. Thirteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Biohaven presently has a consensus rating of “Buy” and an average price target of $63.42.

Biohaven Company Profile

Biohaven Ltd., together with its subsidiaries, focuses on discovering, developing, and commercializing therapies for immunology, neuroscience, and oncology worldwide. The company's pipeline products include Troriluzole, which is in Phase 3 clinical trial for the treatment of neurological and neuropsychiatric illnesses; BHV-5500 that blocks glutamate signaling mediated by post-synaptic NMDA receptors; Taldefgrobep Alfa, which is in Phase 3 clinical trial for the treatment of spinal muscular atrophy and obesity; BHV-7000, a candidate in Phase 2/3 clinical trials for the treatment of focal and generalized epilepsy, bipolar disorder, and major depressive disorder; BHV-2100 that is in Phase 1 clinical trials for the treatment of migraines and neuropathic pain; and BHV-8000, a product candidate in Phase 1 clinical trials for the treatment of early Alzheimer's and Parkinson's disease, sclerosis, and amyloid-related imaging abnormalities.