Biohaven (NYSE:BHVN) Releases Earnings Results, Misses Estimates By $0.50 EPS

Biohaven (NYSE:BHVN) posted its quarterly earnings results on Thursday. The company reported ($2.17) EPS for the quarter, missing analysts’ consensus estimates of ($1.67) by ($0.50), Zacks reports.

Biohaven Trading Up 1.1%

NYSE BHVN opened at $20.47 on Tuesday. The business’s 50-day moving average price is $23.23 and its two-hundred day moving average price is $35.01. Biohaven has a 12 month low of $15.79 and a 12 month high of $55.70. The firm has a market capitalization of $2.09 billion, a PE ratio of -2.19 and a beta of 1.18.

Wall Street Analyst Weigh In

A number of research firms have recently commented on BHVN. JPMorgan Chase & Co. lowered their price target on Biohaven from $72.00 to $68.00 and set an “overweight” rating for the company in a report on Wednesday, March 5th. Royal Bank of Canada reissued an “outperform” rating and set a $61.00 price target on shares of Biohaven in a report on Tuesday, March 4th. Robert W. Baird lowered their price target on Biohaven from $60.00 to $57.00 and set an “outperform” rating for the company in a report on Monday, April 28th. Deutsche Bank Aktiengesellschaft set a $60.00 price target on Biohaven and gave the stock a “buy” rating in a report on Thursday, March 20th. Finally, William Blair raised Biohaven to a “strong-buy” rating in a report on Thursday, April 24th. Fourteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $62.54.

Insider Buying and Selling at Biohaven

In related news, Director John W. Childs purchased 32,700 shares of Biohaven stock in a transaction on Tuesday, March 4th. The shares were purchased at an average price of $30.47 per share, for a total transaction of $996,369.00. Following the transaction, the director now owns 2,320,571 shares of the company’s stock, valued at approximately $70,707,798.37. This represents a 1.43% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at 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.