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

Biohaven (NYSE:BHVN) issued its quarterly earnings results 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 Stock Down 0.8 %

BHVN stock traded down $0.39 during trading on Thursday, hitting $48.65. The company had a trading volume of 894,530 shares, compared to its average volume of 1,137,237. The firm has a 50-day moving average price of $48.01 and a 200-day moving average price of $40.87. Biohaven has a 12 month low of $26.80 and a 12 month high of $62.21. The stock has a market cap of $4.60 billion, a price-to-earnings ratio of -5.20 and a beta of 1.31.

Insider Buying and Selling at Biohaven

In other Biohaven news, Director John W. Childs purchased 21,052 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was bought at an average price of $47.50 per share, for a total transaction of $999,970.00. Following the transaction, the director now directly owns 21,052 shares in the company, valued at $999,970. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Gregory Bailey acquired 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The stock was acquired at an average price of $44.19 per share, for a total transaction of $220,950.00. Following the completion of the acquisition, the director now directly owns 1,620,071 shares of the company’s stock, valued at $71,590,937.49. This trade represents a 0.31 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 16.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on BHVN shares. Bank of America lifted their price target on shares of Biohaven from $52.00 to $62.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. UBS Group lowered their target price on shares of Biohaven from $55.00 to $54.00 and set a “buy” rating on the stock in a research note on Tuesday, August 13th. Leerink Partners raised their price target on shares of Biohaven from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Monday, September 23rd. William Blair raised Biohaven to a “strong-buy” rating in a report on Friday, August 30th. Finally, Sanford C. Bernstein raised their target price on Biohaven from $55.00 to $66.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 24th. Thirteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $63.42.

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.