Biohaven Ltd. (NYSE:BHVN) Expected to Post FY2024 Earnings of ($6.13) Per Share

Biohaven Ltd. (NYSE:BHVN) – Stock analysts at Cantor Fitzgerald lifted their FY2024 EPS estimates for shares of Biohaven in a report issued on Wednesday, April 24th. Cantor Fitzgerald analyst C. Duncan now expects that the company will post earnings of ($6.13) per share for the year, up from their prior estimate of ($6.34). Cantor Fitzgerald currently has a “Overweight” rating on the stock. The consensus estimate for Biohaven’s current full-year earnings is ($5.85) per share.

BHVN has been the topic of several other reports. UBS Group lifted their target price on shares of Biohaven from $59.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday. TD Cowen lifted their target price on shares of Biohaven from $35.00 to $55.00 and gave the stock an “outperform” rating in a research note on Friday, March 1st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $61.00 target price on shares of Biohaven in a research note on Tuesday, April 9th. HC Wainwright lifted their target price on shares of Biohaven from $50.00 to $63.00 and gave the stock a “buy” rating in a research note on Monday, March 4th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Biohaven from $32.00 to $56.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, Biohaven has a consensus rating of “Buy” and an average price target of $52.13.

Biohaven Stock Performance

Shares of BHVN opened at $38.60 on Friday. Biohaven has a fifty-two week low of $12.35 and a fifty-two week high of $62.21. The firm has a 50 day moving average price of $51.32 and a 200-day moving average price of $41.79.

Biohaven (NYSE:BHVN) last announced its quarterly earnings data on Thursday, February 29th. The company reported ($1.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.41) by ($0.40).

Insider Transactions at Biohaven

In other Biohaven news, Director Gregory Bailey bought 25,503 shares of Biohaven stock in a transaction dated Wednesday, April 24th. The shares were purchased at an average cost of $39.18 per share, with a total value of $999,207.54. Following the transaction, the director now directly owns 1,600,071 shares of the company’s stock, valued at $62,690,781.78. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Vlad Coric purchased 121,951 shares of the company’s stock in a transaction that occurred on Monday, April 22nd. The shares were bought at an average price of $41.00 per share, for a total transaction of $4,999,991.00. Following the purchase, the chief executive officer now directly owns 1,788,417 shares in the company, valued at approximately $73,325,097. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Gregory Bailey purchased 25,503 shares of the company’s stock in a transaction that occurred on Wednesday, April 24th. The stock was purchased at an average price of $39.18 per share, for a total transaction of $999,207.54. Following the purchase, the director now owns 1,600,071 shares in the company, valued at $62,690,781.78. The disclosure for this purchase can be found here. Insiders have acquired 196,234 shares of company stock valued at $7,999,179 in the last three months. 16.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Biohaven

A number of hedge funds have recently bought and sold shares of BHVN. Thompson Davis & CO. Inc. bought a new position in Biohaven during the 4th quarter valued at about $214,000. Prevail Innovative Wealth Advisors LLC bought a new position in Biohaven during the 4th quarter valued at about $230,000. Private Advisor Group LLC bought a new position in Biohaven during the 4th quarter valued at about $231,000. Capstone Investment Advisors LLC bought a new position in Biohaven during the 4th quarter valued at about $235,000. Finally, Cypress Wealth Services LLC bought a new position in Biohaven during the 1st quarter valued at about $326,000. Institutional investors own 88.78% of the company’s stock.

Biohaven Company Profile

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.