Leerink Partnrs Predicts Biohaven’s Q3 Earnings (NYSE:BHVN)

Biohaven Ltd. (NYSE:BHVN) – Stock analysts at Leerink Partnrs dropped their Q3 2024 earnings per share (EPS) estimates for Biohaven in a research report issued on Tuesday, October 15th. Leerink Partnrs analyst M. Goodman now anticipates that the company will post earnings per share of ($1.84) for the quarter, down from their prior estimate of ($1.83). The consensus estimate for Biohaven’s current full-year earnings is ($8.82) per share. Leerink Partnrs also issued estimates for Biohaven’s Q4 2024 earnings at ($1.87) EPS, FY2025 earnings at ($6.30) EPS, FY2026 earnings at ($5.25) EPS, FY2027 earnings at ($2.90) EPS and FY2028 earnings at $0.35 EPS.

A number of other research firms also recently commented on BHVN. Royal Bank of Canada boosted their target price on Biohaven from $59.00 to $68.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 24th. JPMorgan Chase & Co. lifted their target price on shares of Biohaven from $55.00 to $68.00 and gave the stock an “overweight” rating in a research report on Thursday, October 3rd. Piper Sandler increased their price target on shares of Biohaven from $66.00 to $76.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Morgan Stanley started coverage on Biohaven in a research report on Wednesday, July 24th. They set an “overweight” rating and a $58.00 price objective for the company. Finally, UBS Group lowered their target price on Biohaven from $55.00 to $54.00 and set a “buy” rating on the stock in a report on Tuesday, August 13th. Thirteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Biohaven has a consensus rating of “Buy” and an average price target of $61.92.

Biohaven Price Performance

Shares of NYSE:BHVN opened at $51.64 on Friday. The firm has a market capitalization of $4.56 billion, a price-to-earnings ratio of -7.56 and a beta of 1.31. The business’s 50 day simple moving average is $43.20 and its 200-day simple moving average is $40.17. Biohaven has a 12 month low of $25.97 and a 12 month high of $62.21.

Biohaven (NYSE:BHVN) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($3.64) EPS for the quarter, missing the consensus estimate of ($1.72) by ($1.92).

Insider Buying and Selling at Biohaven

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

Institutional Trading of Biohaven

A number of institutional investors have recently added to or reduced their stakes in the business. nVerses Capital LLC acquired a new position in shares of Biohaven during the third quarter worth about $50,000. Redwood Wealth Management Group LLC purchased a new position in Biohaven in the 2nd quarter worth approximately $61,000. Elkhorn Partners Limited Partnership purchased a new position in Biohaven in the 2nd quarter worth approximately $125,000. Quarry LP grew its position in Biohaven by 614.3% in the second quarter. Quarry LP now owns 5,000 shares of the company’s stock valued at $174,000 after acquiring an additional 4,300 shares in the last quarter. Finally, Cypress Wealth Services LLC purchased a new stake in shares of Biohaven during the third quarter valued at approximately $224,000. 88.78% of the stock is owned by hedge funds and other institutional investors.

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.