Biohaven (NYSE:BHVN) Releases Earnings Results, Misses Estimates By $0.03 EPS

Biohaven (NYSE:BHVN) issued its earnings results on Tuesday. The company reported ($1.70) earnings per share for the quarter, missing the consensus estimate of ($1.67) by ($0.03), Zacks reports.

Biohaven Stock Up 0.3 %

NYSE:BHVN traded up $0.15 during midday trading on Thursday, hitting $49.19. The stock had a trading volume of 285,908 shares, compared to its average volume of 1,134,216. The stock has a 50-day moving average of $47.77 and a 200 day moving average of $40.82. The company has a market capitalization of $4.65 billion, a price-to-earnings ratio of -5.25 and a beta of 1.31. Biohaven has a one year low of $26.80 and a one year high of $62.21.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of Biohaven in a report on Wednesday, October 23rd. JPMorgan Chase & Co. boosted their price target on shares of Biohaven from $55.00 to $68.00 and gave the stock an “overweight” rating in a research note on Thursday, October 3rd. HC Wainwright restated a “buy” rating and set a $59.00 price objective on shares of Biohaven in a research report on Thursday. Piper Sandler lifted their target price on Biohaven from $66.00 to $76.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Finally, Robert W. Baird increased their price target on Biohaven from $58.00 to $60.00 and gave the company an “outperform” rating in a research note on Monday, September 23rd. Thirteen research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $63.42.

Insider Transactions at Biohaven

In other Biohaven news, Director John W. Childs bought 21,052 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were acquired at an average price of $47.50 per share, with a total value of $999,970.00. Following the transaction, the director now owns 21,052 shares of the company’s stock, valued at approximately $999,970. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director John W. Childs bought 21,052 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were acquired at an average price of $47.50 per share, with a total value of $999,970.00. Following the transaction, the director now owns 21,052 shares of the company’s stock, valued at $999,970. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Gregory Bailey purchased 5,000 shares of Biohaven stock in a transaction dated Tuesday, September 24th. The stock was bought at an average cost of $44.19 per share, with a total value of $220,950.00. Following the completion of the transaction, the director now owns 1,620,071 shares in the company, valued at approximately $71,590,937.49. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Corporate 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.