Biohaven (NYSE:BHVN) Posts Earnings Results, Misses Expectations By $0.03 EPS

Biohaven (NYSE:BHVN) announced its quarterly earnings data on Tuesday. The company reported ($1.70) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.67) by ($0.03), Zacks reports.

Biohaven Price Performance

NYSE:BHVN traded up $0.55 during midday trading on Thursday, hitting $49.59. The company’s stock had a trading volume of 338,331 shares, compared to its average volume of 1,134,465. The firm has a market cap of $4.69 billion, a P/E ratio of -5.25 and a beta of 1.31. Biohaven has a fifty-two week low of $26.80 and a fifty-two week high of $62.21. The firm’s 50 day moving average is $47.77 and its 200-day moving average is $40.82.

Insider Transactions at Biohaven

In other Biohaven news, Director John W. Childs purchased 21,052 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were purchased at an average cost of $47.50 per share, with a total value of $999,970.00. Following the completion of the purchase, the director now owns 21,052 shares in the company, valued at approximately $999,970. The acquisition was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Gregory Bailey acquired 5,000 shares of the business’s stock in a transaction on Tuesday, September 24th. The stock was bought at an average price of $44.19 per share, for a total transaction of $220,950.00. Following the transaction, the director now owns 1,620,071 shares in the company, valued at $71,590,937.49. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John W. Childs purchased 21,052 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were bought at an average cost of $47.50 per share, for a total transaction of $999,970.00. Following the completion of the purchase, the director now owns 21,052 shares in the company, valued at approximately $999,970. The disclosure for this purchase can be found here. Company insiders own 16.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on BHVN. Robert W. Baird lifted their price objective on shares of Biohaven from $58.00 to $60.00 and gave the company an “outperform” rating in a research report on Monday, September 23rd. Cantor Fitzgerald reiterated an “overweight” rating on shares of Biohaven in a research report on Wednesday, October 23rd. Sanford C. Bernstein upped their price objective on shares of Biohaven from $55.00 to $66.00 and gave the stock an “outperform” rating in a report on Tuesday, September 24th. Piper Sandler upped their price objective on shares of Biohaven from $66.00 to $76.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Finally, Leerink Partners increased their price target on shares of Biohaven from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Monday, September 23rd. Thirteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Biohaven presently has an average rating of “Buy” and an average target price 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.