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

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

Biohaven Trading Down 1.4 %

Shares of BHVN stock traded down $0.44 during trading hours on Wednesday, reaching $30.94. The stock had a trading volume of 450,861 shares, compared to its average volume of 929,085. The stock’s fifty day simple moving average is $38.07 and its 200 day simple moving average is $42.66. The firm has a market capitalization of $3.13 billion, a PE ratio of -3.30 and a beta of 1.27. Biohaven has a 12 month low of $26.80 and a 12 month high of $62.21.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. reduced their target price on Biohaven from $72.00 to $68.00 and set an “overweight” rating for the company in a report on Wednesday. Deutsche Bank Aktiengesellschaft initiated 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. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Biohaven in a research report on Tuesday, December 17th. Royal Bank of Canada restated an “outperform” rating and set a $61.00 price target on shares of Biohaven in a research note on Tuesday. Finally, HC Wainwright reissued a “buy” rating and set a $54.00 price objective on shares of Biohaven in a report on Tuesday. Fourteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $62.77.

Insider Buying and Selling

In other news, Director John W. Childs purchased 32,700 shares of Biohaven stock in a transaction dated Tuesday, March 4th. The stock was purchased 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 trade represents a 1.43 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 16.00% of the stock is currently owned by insiders.

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.