Biohaven (NYSE:BHVN) Issues Quarterly Earnings Results, Beats Expectations By $0.26 EPS

Biohaven (NYSE:BHVN) posted its earnings results on Monday. The company reported ($1.64) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.90) by $0.26, Zacks reports.

Biohaven Price Performance

NYSE:BHVN traded down $0.25 during trading hours on Monday, hitting $8.01. The stock had a trading volume of 1,302,745 shares, compared to its average volume of 2,060,467. The firm has a market capitalization of $847.48 million, a price-to-earnings ratio of -1.05 and a beta of 1.10. Biohaven has a one year low of $7.63 and a one year high of $54.53. The company has a 50 day simple moving average of $15.14 and a two-hundred day simple moving average of $15.61. The company has a debt-to-equity ratio of 1.91, a current ratio of 3.82 and a quick ratio of 3.82.

Wall Street Analysts Forecast Growth

BHVN has been the topic of several analyst reports. Cowen restated a “buy” rating on shares of Biohaven in a report on Wednesday. Morgan Stanley reiterated an “overweight” rating on shares of Biohaven in a research note on Wednesday. Leerink Partners decreased their price objective on Biohaven from $60.00 to $50.00 and set an “outperform” rating for the company in a report on Tuesday, August 12th. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $9.00 price objective (down from $34.00) on shares of Biohaven in a report on Thursday. Finally, TD Cowen reduced their target price on shares of Biohaven from $50.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $34.21.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. AQR Capital Management LLC grew its stake in Biohaven by 49.4% in the 1st quarter. AQR Capital Management LLC now owns 114,849 shares of the company’s stock worth $2,761,000 after buying an additional 37,981 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Biohaven by 32.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 71,833 shares of the company’s stock valued at $1,747,000 after buying an additional 17,562 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Biohaven by 7.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 589,615 shares of the company’s stock worth $14,174,000 after purchasing an additional 41,040 shares during the last quarter. Intech Investment Management LLC raised its holdings in Biohaven by 80.3% in the 1st quarter. Intech Investment Management LLC now owns 61,598 shares of the company’s stock worth $1,481,000 after purchasing an additional 27,433 shares in the last quarter. Finally, Quantbot Technologies LP boosted its stake in shares of Biohaven by 1,097.8% during the 2nd quarter. Quantbot Technologies LP now owns 8,840 shares of the company’s stock valued at $125,000 after purchasing an additional 8,102 shares in the last quarter. Hedge funds and other institutional investors own 88.78% of the company’s stock.

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.