Biohaven (NYSE:BHVN) Announces Quarterly Earnings Results, Misses Expectations By $0.03 EPS

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

Biohaven Trading Up 1.1 %

Shares of Biohaven stock traded up $0.55 during trading hours on Thursday, reaching $49.59. The stock had a trading volume of 338,331 shares, compared to its average volume of 1,134,465. The firm has a 50 day simple moving average of $47.77 and a two-hundred day simple moving average of $40.82. The firm has a market capitalization of $4.69 billion, a price-to-earnings ratio of -5.25 and a beta of 1.31. Biohaven has a 1 year low of $26.80 and a 1 year high of $62.21.

Insider Transactions at Biohaven

In other Biohaven news, Director John W. Childs acquired 21,052 shares of the stock in a transaction on Wednesday, October 2nd. The stock was purchased at an average price of $47.50 per share, for a total transaction of $999,970.00. Following the purchase, the director now directly owns 21,052 shares in the company, valued at $999,970. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Biohaven news, Director Gregory Bailey bought 5,000 shares of the business’s stock in a transaction on Tuesday, September 24th. The shares were purchased at an average price of $44.19 per share, with a total value of $220,950.00. Following the purchase, the director now directly owns 1,620,071 shares of the company’s stock, valued at approximately $71,590,937.49. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John W. Childs acquired 21,052 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The stock was purchased at an average cost of $47.50 per share, for a total transaction of $999,970.00. Following the purchase, the director now directly owns 21,052 shares in the company, valued at approximately $999,970. The disclosure for this purchase can be found here. Company insiders own 16.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on BHVN shares. Jefferies Financial Group started coverage on Biohaven in a research report on Monday, September 16th. They issued a “buy” rating and a $57.00 target price for the company. Robert W. Baird boosted their price objective on Biohaven from $58.00 to $60.00 and gave the stock an “outperform” rating in a research report on Monday, September 23rd. TD Cowen boosted their price objective on Biohaven from $55.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday. HC Wainwright reissued a “buy” rating and set a $59.00 price objective on shares of Biohaven in a research report on Thursday. Finally, Bank of America boosted their price objective on Biohaven from $52.00 to $62.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. Thirteen 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, the company has a consensus rating of “Buy” and an average target price of $63.42.

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.