Biohaven (NYSE:BHVN) Releases Quarterly Earnings Results

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

Biohaven Price Performance

BHVN stock traded down $0.39 during trading hours on Thursday, reaching $48.65. The stock had a trading volume of 894,530 shares, compared to its average volume of 1,137,237. The stock has a 50-day simple moving average of $48.01 and a 200 day simple moving average of $40.87. Biohaven has a fifty-two week low of $26.80 and a fifty-two week high of $62.21. The stock has a market capitalization of $4.60 billion, a PE ratio of -5.20 and a beta of 1.31.

Wall Street Analyst Weigh In

BHVN has been the topic of a number of research reports. JPMorgan Chase & Co. lifted their price target on shares of Biohaven from $55.00 to $68.00 and gave the company an “overweight” rating in a research note on Thursday, October 3rd. HC Wainwright reaffirmed a “buy” rating and issued a $59.00 target price on shares of Biohaven in a research note on Thursday. Royal Bank of Canada dropped their price target on Biohaven from $68.00 to $66.00 and set an “outperform” rating on the stock in a research note on Wednesday. TD Cowen boosted their price target on Biohaven from $55.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Morgan Stanley initiated coverage on Biohaven in a report on Wednesday, July 24th. They set an “overweight” rating and a $58.00 price objective for the company. Thirteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Biohaven has a consensus rating of “Buy” and a consensus target price of $63.42.

Insider Transactions at Biohaven

In related news, Director Gregory Bailey purchased 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The shares were acquired at an average price of $44.19 per share, for a total transaction of $220,950.00. Following the purchase, the director now owns 1,620,071 shares in the company, valued at approximately $71,590,937.49. This represents a 0.31 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John W. Childs acquired 21,052 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were bought at an average price of $47.50 per share, with a total value of $999,970.00. Following the completion of the transaction, the director now directly owns 21,052 shares of the company’s stock, valued at approximately $999,970. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 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.