Biohaven (NYSE:BHVN) Posts Earnings Results

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

Biohaven Stock Performance

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

Insiders Place Their Bets

In other Biohaven news, Director John W. Childs bought 32,700 shares of Biohaven stock in a transaction dated Tuesday, March 4th. The shares were purchased at an average cost of $30.47 per share, for a total transaction of $996,369.00. Following the acquisition, the director now directly owns 2,320,571 shares in the company, valued at approximately $70,707,798.37. This represents a 1.43 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 16.00% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.