Biohaven (NYSE:BHVN) Announces Earnings Results

Biohaven (NYSE:BHVN) released its quarterly earnings data 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 Price Performance

Shares of Biohaven stock traded down $0.56 during trading on Wednesday, hitting $30.81. 169,275 shares of the company’s stock traded hands, compared to its average volume of 922,553. Biohaven has a 1 year low of $26.80 and a 1 year high of $62.21. The business has a 50-day simple moving average of $38.07 and a 200-day simple moving average of $42.66. The stock has a market capitalization of $3.12 billion, a P/E ratio of -3.30 and a beta of 1.27.

Insider Activity at Biohaven

In related news, Director John W. Childs acquired 29,000 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were purchased at an average price of $35.94 per share, for a total transaction of $1,042,260.00. Following the completion of the acquisition, the director now directly owns 2,368,741 shares in the company, valued at $85,132,551.54. The trade was a 1.24 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 16.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

BHVN has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Biohaven in a report on Tuesday, February 11th. They issued a “buy” rating and a $65.00 target price on the stock. TD Cowen boosted their price objective on Biohaven from $55.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Royal Bank of Canada reissued an “outperform” rating and issued a $61.00 price target on shares of Biohaven in a research report on Tuesday. HC Wainwright reiterated a “buy” rating and set a $54.00 target price on shares of Biohaven in a research report on Tuesday. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Biohaven in a research report on Tuesday, December 17th. Fourteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Biohaven presently has a consensus rating of “Buy” and a consensus target price of $62.77.

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.