Biohaven (NYSE:BHVN) Releases Earnings Results, Misses Expectations By $0.29 EPS

Biohaven (NYSE:BHVN) issued its quarterly earnings data on Monday. The company reported ($1.85) EPS for the quarter, missing the consensus estimate of ($1.56) by ($0.29), Zacks reports.

Biohaven Stock Down 1.4 %

Shares of Biohaven stock traded down $0.44 during trading on Wednesday, reaching $30.94. 450,861 shares of the stock were exchanged, compared to its average volume of 929,085. The stock’s fifty day moving average is $38.07 and its 200 day moving average is $42.66. The firm has a market cap of $3.13 billion, a price-to-earnings ratio of -3.30 and a beta of 1.27. Biohaven has a 1 year low of $26.80 and a 1 year high of $62.21.

Analyst Upgrades and Downgrades

BHVN has been the subject of several research reports. Deutsche Bank Aktiengesellschaft began coverage on shares of Biohaven in a research report on Tuesday, February 11th. They issued a “buy” rating and a $65.00 target price for the company. JPMorgan Chase & Co. reduced their price objective on Biohaven from $72.00 to $68.00 and set an “overweight” rating on the stock in a research report on Wednesday. TD Cowen raised their price objective 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 research report on Tuesday, December 17th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $61.00 price objective on shares of Biohaven in a research note on Tuesday. Fourteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Biohaven currently has a consensus rating of “Buy” and a consensus target price of $62.77.

Insiders Place Their Bets

In related news, Director John W. Childs bought 32,700 shares of the company’s stock in a transaction dated Tuesday, March 4th. The stock was purchased at an average cost of $30.47 per share, with a total value of $996,369.00. Following the transaction, the director now owns 2,320,571 shares in the company, valued at approximately $70,707,798.37. This trade represents a 1.43 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 16.00% of the company’s stock.

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.