Biohaven (NYSE:BHVN) Releases Earnings Results, Misses Estimates By $0.50 EPS

Biohaven (NYSE:BHVN - Get Free Report) issued its quarterly earnings results on Monday. The company reported ($2.17) EPS for the quarter, missing the consensus estimate of ($1.67) by ($0.50), Zacks reports.

Biohaven Stock Down 19.5%

NYSE:BHVN traded down $3.82 on Thursday, hitting $15.84. The stock had a trading volume of 3,457,047 shares, compared to its average volume of 1,181,842. The business's fifty day moving average is $22.81 and its 200 day moving average is $34.80. The company has a market cap of $1.62 billion, a PE ratio of -1.67 and a beta of 1.18. Biohaven has a 52 week low of $15.12 and a 52 week high of $55.70.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. William Blair upgraded Biohaven to a "strong-buy" rating in a report on Thursday, April 24th. Royal Bank of Canada reduced their price objective on Biohaven from $61.00 to $54.00 and set an "outperform" rating for the company in a research report on Tuesday. Morgan Stanley reduced their target price on Biohaven from $69.00 to $63.00 and set an "overweight" rating for the company in a research report on Friday, March 7th. JPMorgan Chase & Co. dropped their price objective on Biohaven from $72.00 to $68.00 and set an "overweight" rating for the company in a research note on Wednesday, March 5th. Finally, HC Wainwright restated a "buy" rating and issued a $54.00 target price on shares of Biohaven in a research note on Tuesday, March 4th. Thirteen analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $62.00.

Insider Activity

In other Biohaven news, Director John W. Childs purchased 32,700 shares of the company's stock in a transaction that occurred on Tuesday, March 4th. The shares were acquired at an average cost of $30.47 per share, for a total transaction of $996,369.00. Following the completion of the acquisition, the director now owns 2,320,571 shares of the company's stock, valued at $70,707,798.37. The trade was a 1.43% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 16.00% of the company's stock.

Biohaven Company Profile

Biohaven Ltd., together with its subsidiaries, focuses on discovering, developing, and commercializing therapies for immunology, neuroscience, and oncology worldwide. The company's pipeline products include Troriluzole, which is in Phase 3 clinical trial for the treatment of neurological and neuropsychiatric illnesses; BHV-5500 that blocks glutamate signaling mediated by post-synaptic NMDA receptors; Taldefgrobep Alfa, which is in Phase 3 clinical trial for the treatment of spinal muscular atrophy and obesity; BHV-7000, a candidate in Phase 2/3 clinical trials for the treatment of focal and generalized epilepsy, bipolar disorder, and major depressive disorder; BHV-2100 that is in Phase 1 clinical trials for the treatment of migraines and neuropathic pain; and BHV-8000, a product candidate in Phase 1 clinical trials for the treatment of early Alzheimer's and Parkinson's disease, sclerosis, and amyloid-related imaging abnormalities.