Biohaven (NYSE:BHVN) Posts Earnings Results, Beats Expectations By $0.32 EPS

Biohaven (NYSE:BHVN) issued its quarterly earnings data on Monday. The company reported ($0.90) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.22) by $0.32, FiscalAI reports.

Biohaven Stock Up 2.3%

BHVN traded up $0.26 on Monday, hitting $11.78. The company had a trading volume of 1,620,630 shares, compared to its average volume of 2,646,636. The stock has a fifty day simple moving average of $11.57 and a 200-day simple moving average of $12.75. The company has a debt-to-equity ratio of 1.91, a current ratio of 2.86 and a quick ratio of 2.86. The firm has a market capitalization of $1.25 billion, a P/E ratio of -1.55 and a beta of 1.14. Biohaven has a 52-week low of $7.48 and a 52-week high of $36.95.

Institutional Investors Weigh In On Biohaven

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

Wall Street Analysts Forecast Growth

BHVN has been the subject of a number of research analyst reports. Citigroup reaffirmed a “buy” rating on shares of Biohaven in a report on Friday, December 26th. The Goldman Sachs Group raised Biohaven to a “strong-buy” rating in a research note on Friday, February 6th. UBS Group cut Biohaven from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $26.00 to $11.00 in a report on Wednesday, November 26th. Royal Bank Of Canada decreased their price objective on Biohaven from $19.00 to $9.00 and set a “sector perform” rating on the stock in a report on Thursday, November 6th. Finally, Bank of America lowered Biohaven from a “buy” rating to a “neutral” rating and set a $10.00 target price for the company. in a research note on Wednesday, November 5th. Three analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average 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.