Biohaven (NYSE:BHVN) Announces Earnings Results

Biohaven (NYSE:BHVN) issued its quarterly earnings results on Monday. The company reported ($1.21) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.22) by $0.01, Zacks reports.

Biohaven Stock Performance

NYSE:BHVN opened at $11.78 on Tuesday. Biohaven has a 1 year low of $7.48 and a 1 year high of $36.95. The firm has a 50 day moving average of $11.59 and a 200-day moving average of $12.73. The company has a current ratio of 2.86, a quick ratio of 2.86 and a debt-to-equity ratio of 1.91. The stock has a market capitalization of $1.25 billion, a P/E ratio of -1.55 and a beta of 1.15.

Hedge Funds Weigh In On Biohaven

Several institutional investors have recently bought and sold shares of BHVN. PNC Financial Services Group Inc. raised its holdings in Biohaven by 113.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,383 shares of the company’s stock worth $36,000 after purchasing an additional 1,268 shares during the last quarter. Rafferty Asset Management LLC lifted its holdings in Biohaven by 1.3% in the second quarter. Rafferty Asset Management LLC now owns 121,189 shares of the company’s stock valued at $1,710,000 after buying an additional 1,503 shares during the period. Swiss National Bank lifted its holdings in Biohaven by 1.1% in the third quarter. Swiss National Bank now owns 168,300 shares of the company’s stock valued at $2,526,000 after buying an additional 1,800 shares during the period. E Fund Management Co. Ltd. grew its holdings in Biohaven by 20.6% during the 2nd quarter. E Fund Management Co. Ltd. now owns 13,492 shares of the company’s stock worth $190,000 after acquiring an additional 2,307 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Biohaven by 0.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 574,478 shares of the company’s stock valued at $6,486,000 after acquiring an additional 2,567 shares during the last quarter. Institutional investors own 88.78% of the company’s stock.

Wall Street Analyst Weigh In

BHVN has been the subject of a number of research reports. BTIG Research reiterated a “buy” rating and issued a $16.00 price objective on shares of Biohaven in a research report on Tuesday, November 18th. HC Wainwright reiterated a “neutral” rating and set a $11.00 price target on shares of Biohaven in a research note on Friday, December 26th. The Goldman Sachs Group raised shares of Biohaven to a “strong-buy” rating in a report on Friday, February 6th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Biohaven in a report on Wednesday, November 5th. Finally, Royal Bank Of Canada lowered their target price on shares of Biohaven from $19.00 to $9.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 6th. Three research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $25.40.

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.