Biohaven (NYSE:BHVN) Announces Quarterly Earnings Results, Misses Estimates By $0.03 EPS

Biohaven (NYSE:BHVN) issued its earnings results on Tuesday. The company reported ($1.70) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.67) by ($0.03), Zacks reports.

Biohaven Stock Performance

NYSE BHVN opened at $48.65 on Friday. Biohaven has a 52-week low of $26.80 and a 52-week high of $62.21. The company has a 50-day simple moving average of $48.01 and a 200 day simple moving average of $40.87.

Insiders Place Their Bets

In other news, Director John W. Childs acquired 21,052 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The stock was bought at an average cost of $47.50 per share, for a total transaction of $999,970.00. Following the completion of the transaction, the director now owns 21,052 shares of the company’s stock, valued at $999,970. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Gregory Bailey acquired 5,000 shares of the business’s stock in a transaction dated Tuesday, September 24th. The stock was purchased at an average price of $44.19 per share, with a total value of $220,950.00. Following the completion of the transaction, the director now directly owns 1,620,071 shares of the company’s stock, valued at $71,590,937.49. This trade represents a 0.31 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 16.00% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Morgan Stanley assumed coverage on shares of Biohaven in a research note on Wednesday, July 24th. They set an “overweight” rating and a $58.00 target price on the stock. Jefferies Financial Group initiated coverage on shares of Biohaven in a report on Monday, September 16th. They set a “buy” rating and a $57.00 price objective on the stock. UBS Group lowered their price objective on shares of Biohaven from $55.00 to $54.00 and set a “buy” rating on the stock in a report on Tuesday, August 13th. Royal Bank of Canada lowered their price objective on shares of Biohaven from $68.00 to $66.00 and set an “outperform” rating on the stock in a report on Wednesday. Finally, JPMorgan Chase & Co. increased their target price on shares of Biohaven from $55.00 to $68.00 and gave the company an “overweight” rating in a report on Thursday, October 3rd. Thirteen research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $63.42.

Biohaven Company Profile

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.