Biohaven (NYSE:BHVN) Announces Quarterly Earnings Results, Misses Expectations By $0.29 EPS

Biohaven (NYSE:BHVN) issued its quarterly earnings results on Monday. The company reported ($1.85) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.56) by ($0.29), Zacks reports.

Biohaven Price Performance

Shares of NYSE:BHVN opened at $31.93 on Tuesday. The firm has a market capitalization of $3.23 billion, a PE ratio of -3.41 and a beta of 1.28. Biohaven has a 12 month low of $26.80 and a 12 month high of $62.21. The business has a 50-day moving average of $38.24 and a two-hundred day moving average of $42.77.

Insider Transactions at Biohaven

In related news, Director John W. Childs acquired 29,000 shares of the business’s stock in a transaction on Monday, December 30th. The shares were bought at an average cost of $35.94 per share, with a total value of $1,042,260.00. Following the completion of the transaction, the director now directly owns 2,368,741 shares of the company’s stock, valued at $85,132,551.54. This trade represents a 1.24 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 16.00% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $61.00 target price (up from $58.00) on shares of Biohaven in a report on Wednesday, December 4th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Biohaven in a research report on Tuesday, December 17th. TD Cowen lifted their target price on Biohaven from $55.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. HC Wainwright restated a “buy” rating and set a $59.00 price target on shares of Biohaven in a research note on Tuesday, December 17th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Biohaven in a research report on Tuesday, February 11th. They issued a “buy” rating and a $65.00 price objective on the stock. Fourteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $63.15.

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.