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

Biohaven (NYSE:BHVNGet Free Report) announced its quarterly earnings data on Monday. The company reported ($0.78) EPS for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.02), FiscalAI reports.

Biohaven Stock Down 0.5%

BHVN stock traded down $0.08 during trading on Monday, hitting $14.58. 1,376,068 shares of the company’s stock were exchanged, compared to its average volume of 2,586,824. The business has a 50-day moving average price of $13.95 and a two-hundred day moving average price of $11.63. The company has a current ratio of 7.41, a quick ratio of 7.41 and a debt-to-equity ratio of 1.87. The stock has a market capitalization of $2.20 billion, a price-to-earnings ratio of -2.57 and a beta of 1.26. Biohaven has a 52-week low of $7.48 and a 52-week high of $18.57.

Institutional Trading of Biohaven

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BHVN. PNC Financial Services Group Inc. boosted its holdings in shares of Biohaven by 113.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,383 shares of the company’s stock valued at $36,000 after buying an additional 1,268 shares in the last quarter. Arax Advisory Partners raised its stake in Biohaven by 943.3% during the 4th quarter. Arax Advisory Partners now owns 4,914 shares of the company’s stock worth $55,000 after acquiring an additional 4,443 shares in the last quarter. Focus Partners Wealth acquired a new stake in Biohaven during the 3rd quarter worth $87,000. Northwestern Mutual Wealth Management Co. raised its stake in Biohaven by 145.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 9,152 shares of the company’s stock worth $103,000 after acquiring an additional 5,417 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in 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 acquiring an additional 5,341 shares during the last quarter. Institutional investors and hedge funds own 88.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on BHVN shares. Wall Street Zen upgraded shares of Biohaven from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 27th. Needham & Company LLC set a $11.00 price objective on shares of Biohaven in a research report on Monday, June 29th. Weiss Ratings restated a “sell (e+)” rating on shares of Biohaven in a report on Tuesday, June 2nd. HC Wainwright reaffirmed a “neutral” rating and set a $10.00 price objective on shares of Biohaven in a research report on Tuesday, May 26th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Biohaven in a research report on Friday, June 26th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Biohaven currently has a consensus rating of “Moderate Buy” and an average target price of $21.62.

View Our Latest Research Report on BHVN

About Biohaven

(Get Free Report)

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.

See Also

Earnings History for Biohaven (NYSE:BHVN)

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