Biohaven (NYSE:BHVN) Announces Quarterly Earnings Results, Misses Estimates By $0.29 EPS

Biohaven (NYSE:BHVN) posted its quarterly earnings data 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 Price Performance

Biohaven stock opened at $31.40 on Wednesday. Biohaven has a 52-week low of $26.80 and a 52-week high of $62.21. The stock has a fifty day moving average price of $38.16 and a two-hundred day moving average price of $42.71. The firm has a market capitalization of $3.18 billion, a P/E ratio of -3.36 and a beta of 1.27.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $61.00 target price on shares of Biohaven in a report on Tuesday. TD Cowen raised their target price on shares of Biohaven from $55.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Cantor Fitzgerald restated an “overweight” rating on shares of Biohaven in a research report on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft started coverage on Biohaven in a research note on Tuesday, February 11th. They set a “buy” rating and a $65.00 target price on the stock. Finally, HC Wainwright reiterated a “buy” rating and set a $54.00 price target on shares of Biohaven in a report on Tuesday. Fourteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $62.77.

Insider Transactions at Biohaven

In other Biohaven news, Director John W. Childs bought 29,000 shares of the stock in a transaction dated Monday, December 30th. The stock was bought at an average cost of $35.94 per share, for a total transaction of $1,042,260.00. Following the completion of the purchase, the director now owns 2,368,741 shares in the company, valued at $85,132,551.54. This represents a 1.24 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 16.00% of the stock is owned by insiders.

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.