Biohaven (NYSE:BHVN) Issues Earnings Results, Misses Estimates By $0.29 EPS

Biohaven (NYSE:BHVN - Get Free Report) released its quarterly earnings results on Monday. The company reported ($1.85) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.56) by ($0.29), Zacks reports.

Biohaven Stock Down 14.1 %

Biohaven stock traded down $5.25 during midday trading on Monday, hitting $31.93. 2,883,821 shares of the stock were exchanged, compared to its average volume of 919,106. Biohaven has a 52 week low of $26.80 and a 52 week high of $62.21. The stock has a market capitalization of $3.23 billion, a PE ratio of -3.41 and a beta of 1.28. The company has a fifty day simple moving average of $38.24 and a two-hundred day simple moving average of $42.77.

Insiders Place Their Bets

In other Biohaven news, Director John W. Childs purchased 29,000 shares of the stock in a transaction on Monday, December 30th. The stock was bought at an average cost of $35.94 per share, for a total transaction of $1,042,260.00. Following the completion of the acquisition, the director now directly owns 2,368,741 shares of the company's stock, valued at $85,132,551.54. The trade was a 1.24 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 16.00% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on BHVN. HC Wainwright restated a "buy" rating and issued a $59.00 price objective on shares of Biohaven in a research report on Tuesday, December 17th. TD Cowen raised their price target on shares of Biohaven from $55.00 to $75.00 and gave the company a "buy" rating in a report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft began coverage on Biohaven in a report on Tuesday, February 11th. They set a "buy" rating and a $65.00 price objective on the stock. Royal Bank of Canada reissued an "outperform" rating and issued a $61.00 target price (up from $58.00) on shares of Biohaven in a research note on Wednesday, December 4th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Biohaven in a research note on Tuesday, December 17th. Fourteen analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Biohaven presently has an average rating of "Buy" and a consensus target price of $63.15.

About Biohaven

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.