Biohaven (NYSE:BHVN) Releases Quarterly Earnings Results, Beats Expectations By $0.17 EPS
by Renee Jackson · The Cerbat GemBiohaven (NYSE:BHVN – Get Free Report) issued its quarterly earnings data on Monday. The company reported ($0.69) earnings per share for the quarter, topping the consensus estimate of ($0.86) by $0.17, FiscalAI reports.
Biohaven Stock Performance
Biohaven stock traded up $0.51 during trading hours on Monday, reaching $10.14. 1,868,716 shares of the stock were exchanged, compared to its average volume of 2,406,378. The stock has a market cap of $1.53 billion, a P/E ratio of -1.46 and a beta of 1.32. The company has a debt-to-equity ratio of 4.59, a quick ratio of 3.18 and a current ratio of 3.18. Biohaven has a 52-week low of $7.48 and a 52-week high of $23.37. The firm’s 50 day moving average is $9.91 and its 200 day moving average is $11.07.
Analyst Ratings Changes
Several brokerages have recently weighed in on BHVN. TD Cowen boosted their price objective on shares of Biohaven from $15.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday, March 11th. HC Wainwright reduced their target price on Biohaven from $11.00 to $10.00 and set a “neutral” rating for the company in a report on Wednesday, March 4th. Royal Bank Of Canada boosted their target price on Biohaven from $22.00 to $23.00 and gave the company an “outperform” rating in a report on Tuesday, March 3rd. Morgan Stanley reduced their target price on Biohaven from $26.00 to $21.00 and set an “overweight” rating for the company in a report on Tuesday, January 6th. Finally, Citigroup boosted their target price on Biohaven from $14.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, April 2nd. Three analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.53.
Check Out Our Latest Analysis on Biohaven
Hedge Funds Weigh In On Biohaven
Large investors have recently bought and sold shares of the company. Hsbc Holdings PLC purchased a new position in shares of Biohaven during the 4th quarter worth approximately $282,000. Invesco Ltd. raised its stake in shares of Biohaven by 59.0% during the 4th quarter. Invesco Ltd. now owns 194,751 shares of the company’s stock worth $2,199,000 after buying an additional 72,230 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in shares of Biohaven during the 4th quarter worth approximately $342,000. XTX Topco Ltd raised its stake in shares of 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 in the last quarter. Finally, Voloridge Investment Management LLC raised its stake in shares of 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 in the last quarter. Hedge funds and other 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.