Biohaven (NYSE:BHVN) Posts Earnings Results, Misses Estimates By $0.02 EPS

Biohaven (NYSE:BHVN) issued its quarterly earnings data on Monday. The company reported ($0.78) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.02), FiscalAI reports.

Biohaven Stock Performance

Shares of BHVN stock traded down $0.08 during trading on Monday, hitting $14.58. The company’s stock had a trading volume of 1,376,068 shares, compared to its average volume of 2,586,824. The company has a market cap of $2.20 billion, a PE ratio of -2.57 and a beta of 1.26. The company has a current ratio of 7.41, a quick ratio of 7.41 and a debt-to-equity ratio of 1.87. The business has a fifty day moving average of $13.95 and a 200-day moving average of $11.63. Biohaven has a 52 week low of $7.48 and a 52 week high of $18.57.

Institutional Trading of Biohaven

A number of hedge funds have recently bought and sold shares of BHVN. Hsbc Holdings PLC purchased a new position in Biohaven in the fourth quarter worth $282,000. Invesco Ltd. increased its stake in shares of Biohaven by 59.0% during the 4th quarter. Invesco Ltd. now owns 194,751 shares of the company’s stock worth $2,199,000 after purchasing an additional 72,230 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in Biohaven in the fourth quarter valued at approximately $342,000. XTX Topco Ltd grew its stake in shares of Biohaven by 31.1% during the 4th quarter. XTX Topco Ltd now owns 83,455 shares of the company’s stock worth $942,000 after acquiring an additional 19,816 shares during the period. Finally, Voloridge Investment Management LLC increased its stake in shares of Biohaven by 758.4% in the fourth quarter. Voloridge Investment Management LLC now owns 1,318,775 shares of the company’s stock worth $14,889,000 after purchasing an additional 1,165,137 shares in the last quarter. 88.78% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on BHVN. Needham & Company LLC set a $11.00 target price on Biohaven in a research report on Monday, June 29th. Bank of America reissued an “underperform” rating and issued a $11.00 price target (down from $12.00) on shares of Biohaven in a research report on Monday, June 29th. Raymond James Financial restated a “strong-buy” rating on shares of Biohaven in a research note on Wednesday, May 27th. Morgan Stanley cut their price objective on shares of Biohaven from $21.00 to $18.00 and set an “overweight” rating on the stock in a report on Wednesday, May 13th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Biohaven in a research note on Tuesday, June 2nd. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $21.62.

About Biohaven

Biohaven Ltd. (NYSE BHVN) is a clinical-stage biopharmaceutical company dedicated to developing and commercializing therapies for neurological and neurovascular diseases. Founded in 2013 as a spin-out from Yale University, Biohaven focuses on addressing high-unmet medical needs through innovative small-molecule and peptide-based platforms. The company is headquartered in New Haven, Connecticut, and maintains research activities across the United States, with collaborative ties in Europe and Asia via strategic partnerships.

The company’s most advanced program centers on calcitonin gene-related peptide (CGRP) receptor antagonists for the acute and preventive treatment of migraine.