Biohaven (NYSE:BHVN) Posts Quarterly Earnings Results, Misses Estimates By $0.53 EPS

Biohaven (NYSE:BHVN) issued its earnings results on Monday. The company reported ($2.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.64) by ($0.53), Zacks reports.

Biohaven Stock Performance

Shares of Biohaven stock traded up $0.23 during midday trading on Monday, reaching $20.47. 1,577,117 shares of the company’s stock traded hands, compared to its average volume of 1,171,904. The company has a market cap of $2.09 billion, a price-to-earnings ratio of -2.19 and a beta of 1.18. The company’s 50 day simple moving average is $23.44 and its 200 day simple moving average is $35.24. Biohaven has a 52 week low of $15.79 and a 52 week high of $55.70.

Insider Activity

In other Biohaven news, Director John W. Childs purchased 32,700 shares of the business’s stock in a transaction dated Tuesday, March 4th. The shares were acquired at an average price of $30.47 per share, for a total transaction of $996,369.00. Following the acquisition, the director now owns 2,320,571 shares of the company’s stock, valued at $70,707,798.37. This trade represents a 1.43% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 16.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on BHVN shares. Morgan Stanley reduced their target price on shares of Biohaven from $69.00 to $63.00 and set an “overweight” rating for the company in a report on Friday, March 7th. JPMorgan Chase & Co. reduced their target price on shares of Biohaven from $72.00 to $68.00 and set an “overweight” rating for the company in a report on Wednesday, March 5th. William Blair upgraded shares of Biohaven to a “strong-buy” rating in a report on Thursday, April 24th. Royal Bank of Canada restated an “outperform” rating and set a $61.00 target price on shares of Biohaven in a report on Tuesday, March 4th. Finally, Robert W. Baird decreased their price objective on shares of Biohaven from $60.00 to $57.00 and set an “outperform” rating for the company in a research note on Monday, April 28th. Fourteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $62.54.

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.