Biohaven (NYSE:BHVN) Releases Earnings Results, Misses Estimates By $0.15 EPS

Biohaven (NYSE:BHVN) released its quarterly earnings results on Monday, August 10th. The company reported ($0.91) EPS for the quarter, missing the consensus estimate of ($0.76) by ($0.15), Zacks reports.

Biohaven Stock Performance

Shares of BHVN stock opened at $15.02 on Thursday. The company has a market cap of $2.27 billion, a price-to-earnings ratio of -3.24 and a beta of 1.28. The stock has a 50 day simple moving average of $14.86 and a 200-day simple moving average of $12.10. Biohaven has a 12-month low of $7.48 and a 12-month high of $18.57. The company has a current ratio of 4.73, a quick ratio of 4.73 and a debt-to-equity ratio of 21.23.

Analyst Ratings Changes

Several brokerages have issued reports on BHVN. Needham & Company LLC set a $11.00 price objective on shares of Biohaven in a research report on Monday, June 29th. Morgan Stanley upped their target price on shares of Biohaven from $18.00 to $19.00 and gave the company an “overweight” rating in a report on Wednesday, August 12th. Royal Bank Of Canada downgraded shares of Biohaven from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from $23.00 to $19.00 in a research note on Tuesday. Bank of America reissued an “underperform” rating and set a $11.00 price target (down from $12.00) on shares of Biohaven in a report on Monday, June 29th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Biohaven in a research report on Friday, August 28th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $18.69.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BHVN. Cinctive Capital Management LP acquired a new position in Biohaven during the fourth quarter worth about $154,000. Atom Investors LP acquired a new stake in shares of Biohaven during the 4th quarter valued at approximately $219,000. Focus Partners Advisor Solutions LLC acquired a new stake in shares of Biohaven during the 4th quarter valued at approximately $118,000. Quarry LP purchased a new stake in shares of Biohaven during the 3rd quarter worth approximately $150,000. Finally, Osaic Holdings Inc. boosted its stake in shares of Biohaven by 150.5% during the 2nd quarter. Osaic Holdings Inc. now owns 9,791 shares of the company’s stock worth $147,000 after acquiring an additional 5,883 shares in the last quarter. Hedge funds and other institutional investors own 88.78% of the company’s stock.

Biohaven Company Profile

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.