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

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

Biohaven Stock Performance

NYSE:BHVN opened at $31.40 on Wednesday. Biohaven has a one year low of $26.80 and a one year high of $62.21. The firm has a market cap of $3.18 billion, a P/E ratio of -3.36 and a beta of 1.27. The firm has a 50-day simple moving average of $38.16 and a 200-day simple moving average of $42.71.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Royal Bank of Canada reissued an “outperform” rating and set a $61.00 target price on shares of Biohaven in a research note on Tuesday. TD Cowen boosted their target price on shares of Biohaven from $55.00 to $75.00 and gave the stock 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. HC Wainwright reissued a “buy” rating and set a $54.00 price objective on shares of Biohaven in a research report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft started coverage on Biohaven in a research report on Tuesday, February 11th. They set a “buy” rating and a $65.00 price target on the stock. 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 data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $62.77.

Insider Buying and Selling

In other news, Director John W. Childs bought 29,000 shares of Biohaven stock in a transaction dated Monday, December 30th. The stock was bought at an average price of $35.94 per share, for a total transaction of $1,042,260.00. Following the purchase, the director now owns 2,368,741 shares of the company’s stock, valued at approximately $85,132,551.54. The trade was a 1.24 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 16.00% of the stock is currently owned by 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.