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

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

Biohaven Stock Performance

Shares of Biohaven stock opened at $31.40 on Wednesday. The business’s 50 day moving average price is $38.16 and its 200 day moving average price is $42.71. The company has a market cap of $3.18 billion, a price-to-earnings ratio of -3.36 and a beta of 1.27. Biohaven has a one year low of $26.80 and a one year high of $62.21.

Insider Transactions at Biohaven

In other Biohaven news, Director John W. Childs acquired 32,700 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were acquired at an average cost of $30.47 per share, for a total transaction of $996,369.00. Following the transaction, the director now directly owns 2,320,571 shares of the company’s stock, valued at approximately $70,707,798.37. This represents a 1.43 % 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. Corporate insiders own 16.00% of the company’s stock.

Wall Street Analyst Weigh In

BHVN has been the subject of a number of research reports. HC Wainwright reiterated a “buy” rating and set a $54.00 price objective on shares of Biohaven in a report on Tuesday. TD Cowen lifted their target price on Biohaven from $55.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Royal Bank of Canada reissued an “outperform” rating and issued a $61.00 target price on shares of Biohaven in a research note on Tuesday. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Biohaven in a report on Tuesday, December 17th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Biohaven in a report on Tuesday, February 11th. They issued a “buy” rating and a $65.00 price target on the stock. Fourteen equities 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, the company currently has a consensus rating of “Buy” and an average target price of $62.77.

About Biohaven

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.