Biohaven (NYSE:BHVN) Posts Quarterly Earnings Results, Misses Estimates By $0.29 EPS

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

Biohaven Trading Down 1.9 %

Shares of BHVN traded down $0.60 during midday trading on Wednesday, hitting $30.78. The stock had a trading volume of 658,160 shares, compared to its average volume of 936,354. The business has a 50-day simple moving average of $38.07 and a two-hundred day simple moving average of $42.66. The firm has a market cap of $3.11 billion, a P/E ratio of -3.29 and a beta of 1.27. Biohaven has a fifty-two week low of $26.80 and a fifty-two week high of $62.21.

Wall Street Analysts Forecast Growth

BHVN has been the topic of a number of recent analyst reports. TD Cowen lifted their price target on Biohaven from $55.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Biohaven in a report on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft started coverage on Biohaven in a report on Tuesday, February 11th. They set a “buy” rating and a $65.00 target price on the stock. HC Wainwright reaffirmed a “buy” rating and set a $54.00 price target on shares of Biohaven in a research note on Tuesday. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $61.00 price target on shares of Biohaven in a research report on Tuesday. Fourteen 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, the company presently has a consensus rating of “Buy” and a consensus target price of $62.77.

Insider Activity

In related news, Director John W. Childs bought 32,700 shares of the business’s stock in a transaction on Tuesday, March 4th. The stock was bought at an average price 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 in the company, valued at $70,707,798.37. This represents a 1.43 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 16.00% of the stock is owned by company insiders.

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.