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

Biohaven (NYSE:BHVN - Get Free Report) announced its quarterly earnings results on Monday. The company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.86) by ($0.02), Zacks reports.

Biohaven Price Performance

Biohaven stock opened at $10.07 on Thursday. The company's 50 day simple moving average is $9.85 and its 200-day simple moving average is $10.98. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of -1.78 and a beta of 1.32. Biohaven has a 1 year low of $7.48 and a 1 year high of $22.05. The company has a debt-to-equity ratio of 1.87, a quick ratio of 3.18 and a current ratio of 7.41.

Institutional Investors Weigh In On Biohaven

A number of institutional investors have recently modified their holdings of BHVN. PNC Financial Services Group Inc. lifted its stake in Biohaven by 113.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,383 shares of the company's stock worth $36,000 after acquiring an additional 1,268 shares in the last quarter. Arax Advisory Partners increased its stake in Biohaven by 943.3% during the fourth quarter. Arax Advisory Partners now owns 4,914 shares of the company's stock worth $55,000 after purchasing an additional 4,443 shares during the period. Focus Partners Wealth acquired a new stake in shares of Biohaven during the third quarter worth about $87,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of Biohaven by 145.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 9,152 shares of the company's stock worth $103,000 after purchasing an additional 5,417 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Biohaven by 198.6% in the second quarter. Tower Research Capital LLC TRC now owns 8,031 shares of the company's stock valued at $113,000 after purchasing an additional 5,341 shares during the period. 88.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BHVN has been the topic of several research analyst reports. Wall Street Zen lowered Biohaven from a "sell" rating to a "strong sell" rating in a report on Sunday, April 26th. The Goldman Sachs Group raised Biohaven to a "strong-buy" rating in a report on Friday, February 6th. Raymond James Financial reissued a "strong-buy" rating on shares of Biohaven in a research note on Monday, March 9th. TD Cowen raised their price target on shares of Biohaven from $15.00 to $30.00 and gave the stock a "buy" rating in a research note on Wednesday, March 11th. Finally, Leerink Partners reissued an "outperform" rating and set a $15.00 price objective on shares of Biohaven 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 given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $22.47.

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.