HC Wainwright Weighs in on Biohaven FY2029 Earnings

Biohaven Ltd. (NYSE:BHVN) – Equities research analysts at HC Wainwright issued their FY2029 earnings per share (EPS) estimates for Biohaven in a research note issued on Wednesday, December 3rd. HC Wainwright analyst D. Tsao expects that the company will earn $1.25 per share for the year. HC Wainwright has a “Neutral” rating and a $11.00 price target on the stock. The consensus estimate for Biohaven’s current full-year earnings is ($8.90) per share.

Other equities research analysts have also recently issued reports about the company. Sanford C. Bernstein restated a “market perform” rating and issued a $9.00 price objective (down from $34.00) on shares of Biohaven in a research note on Thursday, November 6th. TD Cowen lowered their price target on shares of Biohaven from $50.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, November 5th. Cowen reaffirmed a “buy” rating on shares of Biohaven in a report on Wednesday, November 5th. Robert W. Baird set a $42.00 price objective on shares of Biohaven in a research note on Wednesday, November 5th. Finally, BTIG Research restated a “buy” rating and set a $16.00 target price on shares of Biohaven in a research report on Tuesday, November 18th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $25.93.

Biohaven Stock Up 5.3%

Shares of NYSE BHVN opened at $9.60 on Friday. The company has a debt-to-equity ratio of 1.91, a current ratio of 2.86 and a quick ratio of 2.86. The stock has a market capitalization of $1.02 billion, a PE ratio of -1.26 and a beta of 1.13. Biohaven has a one year low of $7.48 and a one year high of $46.23. The business’s fifty day moving average price is $13.00 and its 200-day moving average price is $14.18.

Biohaven (NYSE:BHVN) last released its earnings results on Monday, November 10th. The company reported ($1.64) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.91) by $0.27.

Hedge Funds Weigh In On Biohaven

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SVB Wealth LLC bought a new position in Biohaven in the 1st quarter worth about $25,000. PNC Financial Services Group Inc. grew its holdings in shares of Biohaven by 113.7% during the third quarter. PNC Financial Services Group Inc. now owns 2,383 shares of the company’s stock worth $36,000 after purchasing an additional 1,268 shares in the last quarter. PFS Partners LLC purchased a new position in shares of Biohaven during the third quarter worth about $60,000. Elkhorn Partners Limited Partnership increased its position in shares of Biohaven by 26.1% in the second quarter. Elkhorn Partners Limited Partnership now owns 5,800 shares of the company’s stock worth $82,000 after purchasing an additional 1,200 shares during the last quarter. Finally, Virtus Investment Advisers LLC raised its stake in Biohaven by 47.7% in the second quarter. Virtus Investment Advisers LLC now owns 6,032 shares of the company’s stock valued at $85,000 after purchasing an additional 1,949 shares in the last quarter. 88.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Gregory Bailey purchased 400,000 shares of the firm’s stock in a transaction dated Thursday, November 13th. The shares were purchased at an average price of $7.50 per share, with a total value of $3,000,000.00. Following the completion of the acquisition, the director owned 2,020,071 shares in the company, valued at $15,150,532.50. This trade represents a 24.69% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Vlad Coric acquired 666,666 shares of the stock in a transaction that occurred on Thursday, November 13th. The stock was acquired at an average price of $7.50 per share, for a total transaction of $4,999,995.00. Following the transaction, the chief executive officer directly owned 1,195,275 shares of the company’s stock, valued at $8,964,562.50. This represents a 126.12% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders acquired 4,416,999 shares of company stock worth $33,144,833. Insiders own 16.00% of the company’s stock.

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.