Biohaven Ltd. to Post Q3 2024 Earnings of ($1.83) Per Share, Leerink Partnrs Forecasts (NYSE:BHVN)

Biohaven Ltd. (NYSE:BHVN) – Investment analysts at Leerink Partnrs cut their Q3 2024 earnings estimates for shares of Biohaven in a research report issued on Monday, September 23rd. Leerink Partnrs analyst M. Goodman now anticipates that the company will post earnings of ($1.83) per share for the quarter, down from their prior forecast of ($1.80). The consensus estimate for Biohaven’s current full-year earnings is ($8.92) per share. Leerink Partnrs also issued estimates for Biohaven’s Q4 2024 earnings at ($1.88) EPS, FY2024 earnings at ($9.55) EPS, FY2025 earnings at ($6.60) EPS, FY2026 earnings at ($5.35) EPS, FY2027 earnings at ($2.80) EPS and FY2028 earnings at $0.55 EPS.

A number of other analysts also recently weighed in on BHVN. Morgan Stanley assumed coverage on shares of Biohaven in a research report on Wednesday, July 24th. They set an “overweight” rating and a $58.00 price target for the company. HC Wainwright reissued a “buy” rating and set a $59.00 price objective on shares of Biohaven in a report on Tuesday. Piper Sandler upped their target price on shares of Biohaven from $66.00 to $76.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Sanford C. Bernstein lifted their price target on Biohaven from $55.00 to $66.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, Royal Bank of Canada upped their price objective on Biohaven from $59.00 to $68.00 and gave the company an “outperform” rating in a research note on Tuesday. Thirteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Biohaven currently has an average rating of “Buy” and a consensus price target of $60.92.

Biohaven Stock Down 0.4 %

BHVN stock opened at $51.00 on Thursday. The stock’s 50 day moving average is $39.53 and its two-hundred day moving average is $40.75. Biohaven has a 52-week low of $22.12 and a 52-week high of $62.21. The company has a market capitalization of $4.50 billion, a PE ratio of -7.47 and a beta of 1.30.

Biohaven (NYSE:BHVN) last announced its earnings results on Thursday, August 8th. The company reported ($3.64) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.72) by ($1.92).

Institutional Trading of Biohaven

Hedge funds have recently added to or reduced their stakes in the business. Perceptive Advisors LLC lifted its stake in shares of Biohaven by 129.4% in the 4th quarter. Perceptive Advisors LLC now owns 1,725,047 shares of the company’s stock worth $73,832,000 after acquiring an additional 973,227 shares during the period. Vanguard Group Inc. lifted its position in Biohaven by 280.5% in the first quarter. Vanguard Group Inc. now owns 6,308,853 shares of the company’s stock worth $345,031,000 after purchasing an additional 4,650,702 shares during the period. CWM LLC boosted its stake in Biohaven by 1,893.4% during the 2nd quarter. CWM LLC now owns 14,552 shares of the company’s stock valued at $505,000 after purchasing an additional 13,822 shares in the last quarter. Oak Ridge Investments LLC increased its position in shares of Biohaven by 197.6% during the 2nd quarter. Oak Ridge Investments LLC now owns 22,000 shares of the company’s stock valued at $764,000 after purchasing an additional 14,607 shares during the period. Finally, Bellevue Group AG raised its stake in shares of Biohaven by 7.0% in the 1st quarter. Bellevue Group AG now owns 1,150,000 shares of the company’s stock worth $62,894,000 after buying an additional 75,000 shares in the last quarter. Institutional investors own 88.78% of the company’s stock.

Insider Activity

In related news, Director Gregory Bailey bought 5,000 shares of the company’s stock in a transaction on Tuesday, September 24th. The shares were purchased 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 directly owns 1,620,071 shares of the company’s stock, valued at $71,590,937.49. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Gregory Bailey bought 5,000 shares of the firm’s stock in a transaction on Tuesday, September 24th. The stock was purchased at an average price of $44.19 per share, for a total transaction of $220,950.00. Following the transaction, the director now owns 1,620,071 shares in the company, valued at $71,590,937.49. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John W. Childs purchased 28,400 shares of the company’s stock in a transaction on Thursday, July 18th. The stock was purchased at an average price of $35.67 per share, for a total transaction of $1,013,028.00. Following the purchase, the director now directly owns 2,339,741 shares of the company’s stock, valued at approximately $83,458,561.47. 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.