Biohaven (NYSE:BHVN) Posts Quarterly Earnings Results, Misses Estimates 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 Price Performance

Shares of NYSE BHVN opened at $31.93 on Tuesday. The business has a 50-day moving average of $38.24 and a two-hundred day moving average of $42.77. The company has a market capitalization of $3.23 billion, a price-to-earnings ratio of -3.41 and a beta of 1.28. Biohaven has a 1 year low of $26.80 and a 1 year high of $62.21.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on BHVN shares. Cantor Fitzgerald restated an “overweight” rating on shares of Biohaven in a research report on Tuesday, December 17th. HC Wainwright reaffirmed a “buy” rating and set a $59.00 price target on shares of Biohaven in a research report on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft assumed coverage on Biohaven in a research report on Tuesday, February 11th. They issued a “buy” rating and a $65.00 target price on the stock. TD Cowen raised their price objective on Biohaven from $55.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $61.00 target price (up previously from $58.00) on shares of Biohaven in a research note on Wednesday, December 4th. Fourteen 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, Biohaven currently has an average rating of “Buy” and a consensus price target of $63.15.

Insider Activity

In related news, Director John W. Childs purchased 29,000 shares of Biohaven stock in a transaction that occurred on Monday, December 30th. The stock was purchased 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 in the company, valued at approximately $85,132,551.54. The trade was a 1.24 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 16.00% of the company’s stock.

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.