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

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

Biohaven Price Performance

NYSE BHVN opened at $31.40 on Wednesday. The firm has a market cap of $3.18 billion, a P/E ratio of -3.36 and a beta of 1.27. The stock’s 50-day moving average is $38.16 and its two-hundred day moving average is $42.71. Biohaven has a fifty-two week low of $26.80 and a fifty-two week high of $62.21.

Analyst Ratings Changes

BHVN has been the subject of several recent analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $54.00 target price on shares of Biohaven in a research report on Tuesday. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Biohaven in a research report on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft initiated coverage on Biohaven in a research report on Tuesday, February 11th. They issued a “buy” rating and a $65.00 target price for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $61.00 target price on shares of Biohaven in a research report on Tuesday. Finally, TD Cowen increased 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. Fourteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $62.77.

Insider Activity

In other Biohaven news, Director John W. Childs purchased 29,000 shares of the stock in a transaction dated Monday, December 30th. The shares were bought 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 owns 2,368,741 shares in the company, valued at $85,132,551.54. This trade represents a 1.24 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 16.00% of the stock is currently 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.