Biohaven (NYSE:BHVN) Announces Quarterly Earnings Results

Biohaven (NYSE:BHVN) announced its earnings results on Monday. The company reported ($1.85) earnings per share for the quarter, missing the consensus estimate of ($1.56) by ($0.29), Zacks reports.

Biohaven Trading Down 2.0 %

Shares of BHVN opened at $31.40 on Wednesday. The stock has a market capitalization of $3.18 billion, a P/E ratio of -3.36 and a beta of 1.27. The business’s 50-day moving average price is $38.16 and its 200 day moving average price is $42.71. Biohaven has a 1-year low of $26.80 and a 1-year high of $62.21.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on BHVN shares. Deutsche Bank Aktiengesellschaft began coverage on Biohaven in a research note on Tuesday, February 11th. They issued a “buy” rating and a $65.00 target price for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $61.00 target price on shares of Biohaven in a report on Tuesday. Cantor Fitzgerald reissued an “overweight” rating on shares of Biohaven in a research report on Tuesday, December 17th. TD Cowen boosted their target price on Biohaven from $55.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, HC Wainwright restated a “buy” rating and issued a $54.00 target price on shares of Biohaven in a research note on Tuesday. Fourteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $62.77.

Insider Transactions at Biohaven

In other news, Director John W. Childs bought 29,000 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The shares were acquired at an average price of $35.94 per share, with a total value of $1,042,260.00. Following the transaction, the director now owns 2,368,741 shares in the company, valued at $85,132,551.54. This represents a 1.24 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 16.00% of the company’s stock.

About Biohaven

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.