Leerink Partnrs Has Negative Outlook of Biohaven Q3 Earnings

Biohaven Ltd. (NYSE:BHVN - Free Report) - Equities research analysts at Leerink Partnrs reduced their Q3 2024 earnings per share estimates for shares of Biohaven in a research report issued on Tuesday, October 15th. Leerink Partnrs analyst M. Goodman now anticipates that the company will earn ($1.84) per share for the quarter, down from their previous estimate of ($1.83). The consensus estimate for Biohaven's current full-year earnings is ($8.82) per share. Leerink Partnrs also issued estimates for Biohaven's Q4 2024 earnings at ($1.87) EPS, FY2025 earnings at ($6.30) EPS, FY2026 earnings at ($5.25) EPS, FY2027 earnings at ($2.90) EPS and FY2028 earnings at $0.35 EPS.

Biohaven (NYSE:BHVN - Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The company reported ($3.64) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.72) by ($1.92).

BHVN has been the subject of a number of other research reports. William Blair upgraded shares of Biohaven to a "strong-buy" rating in a research report on Friday, August 30th. HC Wainwright reissued a "buy" rating and set a $59.00 price target on shares of Biohaven in a report on Tuesday, September 24th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Biohaven in a report on Friday, October 4th. Bank of America increased their target price on Biohaven from $52.00 to $62.00 and gave the stock a "buy" rating in a research note on Tuesday, September 24th. Finally, Royal Bank of Canada lifted their price target on Biohaven from $59.00 to $68.00 and gave the company an "outperform" rating in a research note on Tuesday, September 24th. Thirteen research 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, the stock presently has an average rating of "Buy" and a consensus price target of $61.92.

Biohaven Price Performance

Shares of NYSE:BHVN traded up $1.32 on Friday, reaching $52.96. The company's stock had a trading volume of 840,660 shares, compared to its average volume of 1,178,668. Biohaven has a 52-week low of $25.97 and a 52-week high of $62.21. The stock's 50-day moving average is $43.48 and its two-hundred day moving average is $40.17. The stock has a market capitalization of $4.68 billion, a P/E ratio of -7.75 and a beta of 1.31.

Institutional Trading of Biohaven

A number of institutional investors and hedge funds have recently bought and sold shares of BHVN. nVerses Capital LLC acquired a new stake in Biohaven in the 3rd quarter valued at $50,000. Redwood Wealth Management Group LLC acquired a new stake in shares of Biohaven in the second quarter valued at about $61,000. Elkhorn Partners Limited Partnership acquired a new stake in shares of Biohaven in the second quarter valued at about $125,000. Cypress Wealth Services LLC purchased a new stake in shares of Biohaven during the 3rd quarter valued at about $224,000. Finally, Diversified Trust Co acquired a new position in Biohaven during the 3rd quarter worth approximately $239,000. Institutional investors and hedge funds own 88.78% of the company's stock.

Insiders Place Their Bets

In other Biohaven news, Director John W. Childs acquired 21,052 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was acquired at an average price of $47.50 per share, with a total value of $999,970.00. Following the completion of the transaction, the director now directly owns 21,052 shares in the company, valued at approximately $999,970. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Gregory Bailey purchased 5,000 shares of the firm's stock in a transaction on Tuesday, September 24th. The shares were bought at an average price of $44.19 per share, for a total transaction of $220,950.00. Following the acquisition, the director now directly owns 1,620,071 shares in the company, valued at $71,590,937.49. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director John W. Childs acquired 21,052 shares of the company's stock in a transaction dated Wednesday, October 2nd. The shares were purchased at an average price of $47.50 per share, with a total value of $999,970.00. Following the completion of the acquisition, the director now owns 21,052 shares in the company, valued at approximately $999,970. The disclosure for this purchase can be found here. 16.00% of the stock is owned by corporate insiders.

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.