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

Biohaven (NYSE:BHVN) released its earnings results on Monday. The company reported ($1.85) earnings per share for the quarter, missing the consensus estimate of ($1.56) by ($0.29), Zacks reports.

Biohaven Stock Down 2.0 %

BHVN opened at $31.40 on Wednesday. The stock has a market capitalization of $3.18 billion, a price-to-earnings ratio of -3.36 and a beta of 1.27. Biohaven has a twelve month low of $26.80 and a twelve month high of $62.21. The company has a 50-day simple moving average of $38.16 and a 200 day simple moving average of $42.71.

Insider Buying and Selling at Biohaven

In other news, Director John W. Childs purchased 29,000 shares of Biohaven stock in a transaction that occurred on Monday, December 30th. The shares were acquired at an average price of $35.94 per share, for a total transaction of $1,042,260.00. Following the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 16.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on BHVN shares. HC Wainwright reiterated a “buy” rating and issued a $54.00 price objective on shares of Biohaven in a report on Tuesday. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Biohaven in a report on Tuesday, December 17th. TD Cowen increased their price target on shares of Biohaven from $55.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Royal Bank of Canada restated an “outperform” rating and set a $61.00 price objective on shares of Biohaven in a report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft began coverage on Biohaven in a report on Tuesday, February 11th. They set a “buy” rating and a $65.00 price target for the company. Fourteen investment 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 an average rating of “Buy” and an average target price of $62.77.

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.