Q3 2024 EPS Estimates for Biohaven Ltd. (NYSE:BHVN) Decreased by Analyst

Biohaven Ltd. (NYSE:BHVN) – Analysts at Leerink Partnrs decreased their Q3 2024 earnings estimates for shares of Biohaven in a report issued on Monday, September 23rd. Leerink Partnrs analyst M. Goodman now expects that the company will post earnings per share of ($1.83) for the quarter, down from their previous estimate of ($1.80). The consensus estimate for Biohaven’s current full-year earnings is ($8.92) per share. Leerink Partnrs also issued estimates for Biohaven’s Q4 2024 earnings at ($1.88) EPS, FY2024 earnings at ($9.55) EPS, FY2025 earnings at ($6.60) EPS, FY2026 earnings at ($5.35) EPS, FY2027 earnings at ($2.80) EPS and FY2028 earnings at $0.55 EPS.

A number of other analysts have also issued reports on the company. Sanford C. Bernstein increased their target price on Biohaven from $55.00 to $66.00 and gave the company an “outperform” rating in a report on Tuesday. William Blair raised Biohaven to a “strong-buy” rating in a research report on Friday, August 30th. Robert W. Baird raised their price objective on Biohaven from $58.00 to $60.00 and gave the stock an “outperform” rating in a research report on Monday. Bank of America lifted their target price on Biohaven from $52.00 to $62.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, UBS Group dropped their target price on Biohaven from $55.00 to $54.00 and set a “buy” rating on the stock in a report on Tuesday, August 13th. Thirteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $60.92.

Biohaven Trading Up 4.0 %

NYSE BHVN opened at $51.18 on Thursday. Biohaven has a 1 year low of $20.80 and a 1 year high of $62.21. The company has a market cap of $4.84 billion, a PE ratio of -7.49 and a beta of 1.30. The stock’s 50-day moving average price is $39.23 and its two-hundred day moving average price is $40.78.

Biohaven (NYSE:BHVN) last announced its earnings results on Thursday, August 8th. The company reported ($3.64) EPS for the quarter, missing the consensus estimate of ($1.72) by ($1.92).

Insider Activity at Biohaven

In other Biohaven news, Director Gregory Bailey acquired 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The stock was purchased at an average cost of $44.19 per share, for a total transaction of $220,950.00. Following the completion of the acquisition, the director now owns 1,620,071 shares of the company’s stock, valued at approximately $71,590,937.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Gregory Bailey acquired 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The shares were acquired at an average cost of $44.19 per share, with a total value of $220,950.00. Following the purchase, the director now owns 1,620,071 shares of the company’s stock, valued at $71,590,937.49. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John W. Childs bought 28,400 shares of Biohaven stock in a transaction that occurred on Thursday, July 18th. The stock was bought at an average price of $35.67 per share, with a total value of $1,013,028.00. Following the completion of the acquisition, the director now owns 2,339,741 shares in the company, valued at approximately $83,458,561.47. The disclosure for this purchase can be found here. Insiders own 16.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Biohaven by 280.5% in the 1st quarter. Vanguard Group Inc. now owns 6,308,853 shares of the company’s stock valued at $345,031,000 after buying an additional 4,650,702 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Biohaven by 6.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,347,022 shares of the company’s stock worth $183,050,000 after acquiring an additional 212,699 shares during the last quarter. Point72 Asset Management L.P. increased its position in Biohaven by 142.2% during the fourth quarter. Point72 Asset Management L.P. now owns 2,483,567 shares of the company’s stock worth $106,297,000 after acquiring an additional 1,458,072 shares during the period. Farallon Capital Management LLC increased its position in Biohaven by 181.4% during the second quarter. Farallon Capital Management LLC now owns 2,248,000 shares of the company’s stock worth $78,028,000 after acquiring an additional 1,449,000 shares during the period. Finally, Perceptive Advisors LLC raised its stake in Biohaven by 129.4% during the 4th quarter. Perceptive Advisors LLC now owns 1,725,047 shares of the company’s stock valued at $73,832,000 after purchasing an additional 973,227 shares during the last quarter. 88.78% of the stock is currently owned by institutional investors and hedge funds.

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.