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

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

Biohaven Stock Up 2.6 %

Shares of NYSE BHVN traded up $1.26 during mid-day trading on Thursday, hitting $50.30. 225,561 shares of the company were exchanged, compared to its average volume of 1,133,961. The firm has a market cap of $4.76 billion, a price-to-earnings ratio of -5.25 and a beta of 1.31. The stock has a 50 day simple moving average of $47.77 and a 200-day simple moving average of $40.82. Biohaven has a 1-year low of $26.80 and a 1-year high of $62.21.

Insider Buying and Selling

In other Biohaven news, Director John W. Childs acquired 21,052 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were purchased at an average cost of $47.50 per share, with a total value of $999,970.00. Following the purchase, the director now owns 21,052 shares in the company, valued at approximately $999,970. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director John W. Childs purchased 21,052 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was bought at an average price of $47.50 per share, with a total value of $999,970.00. Following the completion of the transaction, the director now owns 21,052 shares of the company’s stock, valued at approximately $999,970. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gregory Bailey bought 5,000 shares of the stock in a transaction that occurred on Tuesday, September 24th. The stock was bought at an average price of $44.19 per share, with a total value of $220,950.00. Following the completion of the acquisition, the director now owns 1,620,071 shares of the company’s stock, valued at $71,590,937.49. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 16.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Jefferies Financial Group assumed coverage on Biohaven in a report on Monday, September 16th. They set a “buy” rating and a $57.00 price target on the stock. TD Cowen upped their target price on shares of Biohaven from $55.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday. Robert W. Baird raised their target price on shares of Biohaven from $58.00 to $60.00 and gave the company an “outperform” rating in a report on Monday, September 23rd. Bank of America boosted their price target on shares of Biohaven from $52.00 to $62.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Biohaven in a report on Wednesday, October 23rd. Thirteen research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $63.42.

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.