Biohaven (NYSE:BHVN) Releases Quarterly Earnings Results, Beats Estimates By $0.17 EPS

Key Points

• Quarterly beat: Biohaven reported EPS of ($0.69), beating the consensus ($0.86) by $0.17, and the stock traded up about 5.3% to $10.14 on the news.
• Heavy institutional buying: Multiple funds (Suvretta, Stifel, Infinitum, State Street, Geode) materially increased positions, leaving institutions owning 88.78% of the company's shares.
• Analyst sentiment positive: MarketBeat shows a consensus rating of Moderate Buy and a price target of $22.53, with most analysts issuing Buy or Strong-Buy recommendations (3 Strong Buy, 9 Buy, 5 Hold, 1 Sell).

Biohaven (NYSE:BHVN - Get Free Report) issued its quarterly earnings data on Monday. The company reported ($0.69) EPS for the quarter, beating the consensus estimate of ($0.86) by $0.17, FiscalAI reports.

Biohaven Trading Up 5.3%

Biohaven stock traded up $0.51 during mid-day trading on Monday, hitting $10.14. The company's stock had a trading volume of 1,868,716 shares, compared to its average volume of 2,406,378. The company has a current ratio of 3.18, a quick ratio of 3.18 and a debt-to-equity ratio of 4.59. The firm has a market capitalization of $1.53 billion, a PE ratio of -1.46 and a beta of 1.32. The stock's fifty day moving average is $9.91 and its two-hundred day moving average is $11.07. Biohaven has a 1 year low of $7.48 and a 1 year high of $23.37.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Suvretta Capital Management LLC boosted its holdings in Biohaven by 83.0% in the fourth quarter. Suvretta Capital Management LLC now owns 10,286,937 shares of the company's stock valued at $116,140,000 after purchasing an additional 4,666,666 shares during the period. Stifel Financial Corp lifted its holdings in Biohaven by 50.3% during the 4th quarter. Stifel Financial Corp now owns 9,939,856 shares of the company's stock worth $112,221,000 after buying an additional 3,328,506 shares during the last quarter. Infinitum Asset Management LLC lifted its holdings in Biohaven by 267.6% during the 4th quarter. Infinitum Asset Management LLC now owns 6,250,000 shares of the company's stock worth $70,562,000 after buying an additional 4,550,000 shares during the last quarter. State Street Corp lifted its holdings in Biohaven by 34.2% during the 4th quarter. State Street Corp now owns 5,716,487 shares of the company's stock worth $64,539,000 after buying an additional 1,458,204 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Biohaven by 16.1% during the 4th quarter. Geode Capital Management LLC now owns 2,392,277 shares of the company's stock worth $27,014,000 after buying an additional 332,069 shares during the last quarter. Institutional investors and hedge funds own 88.78% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on BHVN shares. Leerink Partners restated an "outperform" rating and issued a $15.00 target price on shares of Biohaven in a research note on Tuesday, March 3rd. Canaccord Genuity Group started coverage on shares of Biohaven in a report on Monday, April 13th. They set a "buy" rating and a $21.00 target price for the company. Morgan Stanley cut their price target on Biohaven from $26.00 to $21.00 and set an "overweight" rating for the company in a research note on Tuesday, January 6th. Raymond James Financial restated a "strong-buy" rating on shares of Biohaven in a research note on Monday, March 9th. Finally, Royal Bank Of Canada boosted their price objective on Biohaven from $22.00 to $23.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 3rd. Three investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $22.53.

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.

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