Biohaven (NYSE:BHVN) Issues Earnings Results

Biohaven (NYSE:BHVN) released its quarterly earnings data on Monday. The company reported ($0.91) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.15), Zacks reports.

Biohaven Stock Down 0.5%

Shares of NYSE:BHVN opened at $14.58 on Tuesday. The company has a quick ratio of 7.41, a current ratio of 7.41 and a debt-to-equity ratio of 1.87. The firm has a market cap of $2.20 billion, a P/E ratio of -2.57 and a beta of 1.26. Biohaven has a 12 month low of $7.48 and a 12 month high of $18.57. The company’s 50-day moving average price is $14.02 and its two-hundred day moving average price is $11.64.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Needham & Company LLC set a $11.00 target price on Biohaven in a research report on Monday, June 29th. Wall Street Zen upgraded Biohaven from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 27th. Morgan Stanley dropped their price objective on Biohaven from $21.00 to $18.00 and set an “overweight” rating for the company in a research note on Wednesday, May 13th. Canaccord Genuity Group started coverage on Biohaven in a report on Monday, April 13th. They set a “buy” rating and a $21.00 price objective for the company. Finally, Royal Bank Of Canada reduced their target price on shares of Biohaven from $23.00 to $22.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 5th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.62.

Hedge Funds Weigh In On Biohaven

A number of large investors have recently modified their holdings of BHVN. AQR Capital Management LLC grew its stake in shares of Biohaven by 49.4% during the first quarter. AQR Capital Management LLC now owns 114,849 shares of the company’s stock valued at $2,761,000 after purchasing an additional 37,981 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Biohaven by 32.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 71,833 shares of the company’s stock worth $1,747,000 after buying an additional 17,562 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Biohaven by 7.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 589,615 shares of the company’s stock worth $14,174,000 after buying an additional 41,040 shares in the last quarter. Intech Investment Management LLC boosted its position in Biohaven by 80.3% in the 1st quarter. Intech Investment Management LLC now owns 61,598 shares of the company’s stock valued at $1,481,000 after buying an additional 27,433 shares during the last quarter. Finally, Quantbot Technologies LP boosted its position in Biohaven by 1,097.8% in the 2nd quarter. Quantbot Technologies LP now owns 8,840 shares of the company’s stock valued at $125,000 after buying an additional 8,102 shares during the last quarter. 88.78% of the stock is currently 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.