Biohaven (NYSE:BHVN) Posts Earnings Results

Biohaven (NYSE:BHVN) announced its quarterly earnings data on Monday. The company reported ($1.21) EPS for the quarter, beating analysts’ consensus estimates of ($1.22) by $0.01, Zacks reports.

Biohaven Stock Performance

Shares of NYSE BHVN opened at $10.66 on Wednesday. The company has a debt-to-equity ratio of 1.91, a current ratio of 2.86 and a quick ratio of 2.86. Biohaven has a one year low of $7.48 and a one year high of $32.41. The business’s 50-day moving average price is $11.59 and its two-hundred day moving average price is $12.69. The company has a market capitalization of $1.13 billion, a P/E ratio of -1.53 and a beta of 1.15.

Institutional Trading of Biohaven

A number of institutional investors have recently added to or reduced their stakes in the business. Invesco Ltd. lifted its stake in shares of Biohaven by 59.0% in the 4th quarter. Invesco Ltd. now owns 194,751 shares of the company’s stock valued at $2,199,000 after purchasing an additional 72,230 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new position in Biohaven during the fourth quarter valued at about $342,000. XTX Topco Ltd raised its holdings in Biohaven by 31.1% during the fourth quarter. XTX Topco Ltd now owns 83,455 shares of the company’s stock valued at $942,000 after buying an additional 19,816 shares in the last quarter. Voloridge Investment Management LLC lifted its position in shares of Biohaven by 758.4% in the fourth quarter. Voloridge Investment Management LLC now owns 1,318,775 shares of the company’s stock worth $14,889,000 after buying an additional 1,165,137 shares during the last quarter. Finally, Virtus Investment Advisers LLC boosted its stake in shares of Biohaven by 216.1% during the 4th quarter. Virtus Investment Advisers LLC now owns 23,072 shares of the company’s stock worth $260,000 after acquiring an additional 15,773 shares in the last quarter. 88.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently weighed in on BHVN. Royal Bank Of Canada raised their target price on Biohaven from $22.00 to $23.00 and gave the company an “outperform” rating in a research note on Tuesday. Sanford C. Bernstein restated a “market perform” rating and set a $9.00 price objective (down from $34.00) on shares of Biohaven in a research note on Thursday, November 6th. Robert W. Baird set a $42.00 target price on Biohaven in a research report on Wednesday, November 5th. HC Wainwright decreased their target price on shares of Biohaven from $11.00 to $10.00 and set a “neutral” rating for the company in a research report on Wednesday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Biohaven in a research report on Monday, December 29th. Three research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.93.

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.