Analysts Set Expectations for Biohaven FY2029 Earnings

Biohaven Ltd. (NYSE:BHVN) – Research analysts at HC Wainwright issued their FY2029 earnings estimates for Biohaven in a report released on Wednesday, December 3rd. HC Wainwright analyst D. Tsao forecasts that the company will earn $1.25 per share for the year. HC Wainwright has a “Neutral” rating and a $11.00 price target on the stock. The consensus estimate for Biohaven’s current full-year earnings is ($8.90) per share.

Biohaven (NYSE:BHVN) last released its quarterly earnings data on Monday, November 10th. The company reported ($1.64) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.91) by $0.27.

A number of other equities research analysts have also recently weighed in on the stock. JPMorgan Chase & Co. dropped their price target on shares of Biohaven from $47.00 to $15.00 and set an “overweight” rating for the company in a research report on Thursday, November 20th. William Blair reaffirmed a “market perform” rating on shares of Biohaven in a research report on Tuesday, November 11th. Sanford C. Bernstein reiterated a “market perform” rating and issued a $9.00 target price (down previously from $34.00) on shares of Biohaven in a report on Thursday, November 6th. BTIG Research restated a “buy” rating and set a $16.00 price target on shares of Biohaven in a research note on Tuesday, November 18th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Biohaven in a research note on Monday, December 1st. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $25.93.

Biohaven Price Performance

Shares of Biohaven stock opened at $9.56 on Friday. The firm has a market cap of $1.01 billion, a PE ratio of -1.26 and a beta of 1.13. Biohaven has a twelve month low of $7.48 and a twelve month high of $45.87. The business has a 50-day moving average price of $12.89 and a 200 day moving average price of $14.12. The company has a quick ratio of 2.86, a current ratio of 2.86 and a debt-to-equity ratio of 1.91.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in BHVN. Qube Research & Technologies Ltd raised its holdings in shares of Biohaven by 834.4% in the 3rd quarter. Qube Research & Technologies Ltd now owns 1,265,597 shares of the company’s stock valued at $18,997,000 after purchasing an additional 1,130,157 shares in the last quarter. Norges Bank purchased a new position in Biohaven in the second quarter valued at $12,735,000. Millennium Management LLC raised its stake in Biohaven by 1,172.9% in the first quarter. Millennium Management LLC now owns 901,258 shares of the company’s stock valued at $21,666,000 after buying an additional 830,457 shares in the last quarter. Bellevue Group AG raised its stake in Biohaven by 37.3% in the second quarter. Bellevue Group AG now owns 2,802,853 shares of the company’s stock valued at $39,548,000 after buying an additional 762,000 shares in the last quarter. Finally, Two Sigma Investments LP lifted its holdings in Biohaven by 986.0% during the 3rd quarter. Two Sigma Investments LP now owns 799,600 shares of the company’s stock worth $12,002,000 after buying an additional 725,969 shares during the last quarter. Institutional investors and hedge funds own 88.78% of the company’s stock.

Insider Buying and Selling

In related news, Director Gregory Bailey acquired 400,000 shares of the firm’s stock in a transaction dated Thursday, November 13th. The stock was acquired at an average price of $7.50 per share, for a total transaction of $3,000,000.00. Following the purchase, the director owned 2,020,071 shares of the company’s stock, valued at $15,150,532.50. This represents a 24.69% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO George C. Clark acquired 17,000 shares of the stock in a transaction dated Monday, November 17th. The shares were bought at an average cost of $8.52 per share, with a total value of $144,840.00. Following the completion of the transaction, the chief accounting officer owned 20,000 shares of the company’s stock, valued at approximately $170,400. This represents a 566.67% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have bought 4,416,999 shares of company stock valued at $33,144,833. 16.00% of the stock is currently owned by company 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.