Biohaven (NYSE:BHVN) Posts Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Biohaven (NYSE:BHVN) announced its earnings results on Monday. The company reported ($0.78) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.02), FiscalAI reports.

Biohaven Stock Performance

Shares of BHVN stock traded down $0.08 during midday trading on Monday, hitting $14.58. The company had a trading volume of 1,376,068 shares, compared to its average volume of 2,586,824. The stock has a market cap of $2.20 billion, a price-to-earnings ratio of -2.57 and a beta of 1.26. The company has a debt-to-equity ratio of 1.87, a current ratio of 7.41 and a quick ratio of 7.41. The company’s 50 day simple moving average is $13.95 and its 200 day simple moving average is $11.63. Biohaven has a 52-week low of $7.48 and a 52-week high of $18.57.

Analyst Ratings Changes

BHVN has been the topic of several research analyst reports. Wall Street Zen raised Biohaven from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 27th. Raymond James Financial reissued a “strong-buy” rating on shares of Biohaven in a report on Wednesday, May 27th. Royal Bank Of Canada lowered their target price on shares of Biohaven from $23.00 to $22.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 5th. Morgan Stanley cut their target price on shares of Biohaven from $21.00 to $18.00 and set an “overweight” rating on the stock in a report on Wednesday, May 13th. Finally, Needham & Company LLC set a $11.00 price target on shares of Biohaven in a research report on Monday, June 29th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Biohaven presently has a consensus rating of “Moderate Buy” and an average price target of $21.62.

Hedge Funds Weigh In On Biohaven

Several institutional investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. raised its position in Biohaven by 113.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,383 shares of the company’s stock worth $36,000 after buying an additional 1,268 shares during the last quarter. Arax Advisory Partners boosted its holdings in shares of Biohaven by 943.3% in the fourth quarter. Arax Advisory Partners now owns 4,914 shares of the company’s stock valued at $55,000 after acquiring an additional 4,443 shares in the last quarter. Focus Partners Wealth acquired a new position in shares of Biohaven during the third quarter worth about $87,000. Northwestern Mutual Wealth Management Co. raised its holdings in Biohaven by 145.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 9,152 shares of the company’s stock worth $103,000 after purchasing an additional 5,417 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in Biohaven by 198.6% in the second quarter. Tower Research Capital LLC TRC now owns 8,031 shares of the company’s stock valued at $113,000 after purchasing an additional 5,341 shares during the period. 88.78% of the stock is owned by institutional investors and hedge funds.

Biohaven Company Profile

Biohaven Ltd. (NYSE BHVN) is a clinical-stage biopharmaceutical company dedicated to developing and commercializing therapies for neurological and neurovascular diseases. Founded in 2013 as a spin-out from Yale University, Biohaven focuses on addressing high-unmet medical needs through innovative small-molecule and peptide-based platforms. The company is headquartered in New Haven, Connecticut, and maintains research activities across the United States, with collaborative ties in Europe and Asia via strategic partnerships.

The company’s most advanced program centers on calcitonin gene-related peptide (CGRP) receptor antagonists for the acute and preventive treatment of migraine.