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

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

Biohaven Stock Performance

BHVN traded up $1.26 during trading on Thursday, hitting $50.30. The stock had a trading volume of 225,561 shares, compared to its average volume of 1,133,961. The stock has a 50 day simple moving average of $47.77 and a two-hundred day simple moving average of $40.82. Biohaven has a twelve month low of $26.80 and a twelve month high of $62.21. The company has a market capitalization of $4.76 billion, a PE ratio of -5.25 and a beta of 1.31.

Insider Activity

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

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on BHVN. William Blair raised Biohaven to a “strong-buy” rating in a research report on Friday, August 30th. Jefferies Financial Group started coverage on Biohaven in a report on Monday, September 16th. They issued a “buy” rating and a $57.00 target price on the stock. HC Wainwright reiterated a “buy” rating and set a $59.00 price objective on shares of Biohaven in a research report on Thursday. Royal Bank of Canada decreased their target price on Biohaven from $68.00 to $66.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Biohaven in a research note on Wednesday, October 23rd. Thirteen analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target 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.