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

Biohaven (NYSE:BHVN) announced its quarterly earnings results on Monday, May 4th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.86) by ($0.02), Zacks reports.

Biohaven Trading Up 13.1%

BHVN opened at $11.39 on Thursday. The stock has a market capitalization of $1.71 billion, a PE ratio of -2.01 and a beta of 1.32. The firm’s fifty day moving average price is $9.47 and its 200 day moving average price is $10.32. The company has a debt-to-equity ratio of 1.87, a current ratio of 7.41 and a quick ratio of 7.41. Biohaven has a 12-month low of $7.48 and a 12-month high of $18.57.

Analyst Ratings Changes

Several equities analysts recently commented on BHVN shares. Morgan Stanley reduced their price target on Biohaven from $21.00 to $18.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 13th. Royal Bank Of Canada decreased their target price on shares of Biohaven from $23.00 to $22.00 and set an “outperform” rating for the company in a research note on Tuesday, May 5th. HC Wainwright reaffirmed a “neutral” rating and set a $10.00 price target on shares of Biohaven in a report on Tuesday. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Biohaven in a research note on Wednesday. Finally, Wall Street Zen cut shares of Biohaven from a “sell” rating to a “strong sell” rating in a research report on Sunday, April 26th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Biohaven currently has an average rating of “Moderate Buy” and a consensus price target of $22.27.

Institutional Investors Weigh In On Biohaven

Hedge funds and other institutional investors have recently modified their holdings of the stock. Hsbc Holdings PLC acquired a new stake in shares of Biohaven in the 4th quarter valued at about $282,000. Invesco Ltd. increased its holdings in Biohaven by 59.0% in the fourth quarter. Invesco Ltd. now owns 194,751 shares of the company’s stock valued at $2,199,000 after buying an additional 72,230 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in Biohaven during the fourth quarter valued at approximately $342,000. XTX Topco Ltd lifted its holdings in Biohaven by 31.1% during the 4th quarter. XTX Topco Ltd now owns 83,455 shares of the company’s stock worth $942,000 after buying an additional 19,816 shares during the last quarter. Finally, Voloridge Investment Management LLC lifted its holdings in Biohaven by 758.4% during the 4th 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. Institutional investors own 88.78% of the company’s stock.

About Biohaven

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.