Biohaven (NYSE:BHVN) Issues Quarterly Earnings Results, Misses Estimates By $0.15 EPS

Biohaven (NYSE:BHVN) posted its earnings results on Monday. The company reported ($0.91) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.76) by ($0.15), Zacks reports.

Biohaven Trading Down 0.4%

NYSE BHVN traded down $0.06 during trading on Wednesday, hitting $14.43. The stock had a trading volume of 158,463 shares, compared to its average volume of 2,569,213. The company has a quick ratio of 7.41, a current ratio of 7.41 and a debt-to-equity ratio of 1.87. The company has a market capitalization of $2.17 billion, a PE ratio of -3.09 and a beta of 1.26. The firm has a 50 day moving average price of $14.10 and a 200 day moving average price of $11.65. Biohaven has a twelve month low of $7.48 and a twelve month high of $18.57.

Institutional Investors Weigh In On Biohaven

Several large investors have recently added to or reduced their stakes in BHVN. Cinctive Capital Management LP acquired a new stake in Biohaven in the 4th quarter valued at about $154,000. Atom Investors LP acquired a new position in shares of Biohaven during the fourth quarter worth about $219,000. Focus Partners Advisor Solutions LLC acquired a new position in shares of Biohaven during the fourth quarter worth about $118,000. Quarry LP purchased a new stake in shares of Biohaven during the third quarter worth approximately $150,000. Finally, Osaic Holdings Inc. raised its holdings in Biohaven by 150.5% in the second quarter. Osaic Holdings Inc. now owns 9,791 shares of the company’s stock valued at $147,000 after acquiring an additional 5,883 shares in the last quarter. 88.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on BHVN shares. Royal Bank Of Canada upped their price target on Biohaven from $22.00 to $23.00 and gave the company an “outperform” rating in a research note on Tuesday. Wall Street Zen upgraded shares of Biohaven from a “strong sell” rating to a “sell” rating in a report on Saturday, June 27th. HC Wainwright reaffirmed a “neutral” rating and issued a $10.00 target price on shares of Biohaven in a research report on Tuesday, May 26th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Biohaven in a research note on Tuesday, June 2nd. Finally, Bank of America reiterated an “underperform” rating and set a $11.00 price target (down from $12.00) on shares of Biohaven in a research report on Monday, June 29th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $21.75.

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.