Biohaven Ltd. Expected to Earn FY2024 Earnings of ($6.13) Per Share (NYSE:BHVN)

Biohaven Ltd. (NYSE:BHVN) – Equities research analysts at Cantor Fitzgerald increased their FY2024 EPS estimates for Biohaven in a research note issued to investors on Wednesday, April 24th. Cantor Fitzgerald analyst C. Duncan now anticipates that the company will post earnings per share of ($6.13) for the year, up from their previous estimate of ($6.34). Cantor Fitzgerald has a “Overweight” rating on the stock. The consensus estimate for Biohaven’s current full-year earnings is ($5.85) per share.

Biohaven (NYSE:BHVN) last issued its quarterly earnings data on Thursday, February 29th. The company reported ($1.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.41) by ($0.40).

Other equities analysts also recently issued research reports about the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $61.00 target price on shares of Biohaven in a report on Tuesday, April 9th. UBS Group increased their price objective on shares of Biohaven from $59.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday. JPMorgan Chase & Co. lifted their target price on Biohaven from $32.00 to $56.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. TD Cowen boosted their target price on Biohaven from $35.00 to $55.00 and gave the stock an “outperform” rating in a research report on Friday, March 1st. Finally, HC Wainwright raised their price target on Biohaven from $50.00 to $63.00 and gave the company a “buy” rating in a report on Monday, March 4th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $52.13.

Biohaven Price Performance

BHVN opened at $38.99 on Friday. The company has a 50 day simple moving average of $51.11 and a two-hundred day simple moving average of $41.77. The firm has a market cap of $3.44 billion, a P/E ratio of -6.89 and a beta of 1.18. Biohaven has a 1-year low of $12.35 and a 1-year high of $62.21.

Insider Transactions at Biohaven

In other news, Director Gregory Bailey acquired 25,503 shares of the company’s stock in a transaction on Wednesday, April 24th. The stock was bought at an average cost of $39.18 per share, with a total value of $999,207.54. Following the completion of the purchase, the director now directly owns 1,600,071 shares of the company’s stock, valued at $62,690,781.78. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Biohaven news, CEO Vlad Coric bought 121,951 shares of the business’s stock in a transaction dated Monday, April 22nd. The shares were purchased at an average price of $41.00 per share, with a total value of $4,999,991.00. Following the completion of the purchase, the chief executive officer now owns 1,788,417 shares in the company, valued at approximately $73,325,097. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Gregory Bailey purchased 25,503 shares of the firm’s stock in a transaction that occurred on Wednesday, April 24th. The shares were acquired at an average cost of $39.18 per share, with a total value of $999,207.54. Following the completion of the purchase, the director now directly owns 1,600,071 shares in the company, valued at approximately $62,690,781.78. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 196,234 shares of company stock worth $7,999,179. 16.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Biohaven

Hedge funds have recently bought and sold shares of the business. Teacher Retirement System of Texas increased its position in shares of Biohaven by 4.7% during the third quarter. Teacher Retirement System of Texas now owns 16,486 shares of the company’s stock worth $429,000 after acquiring an additional 746 shares during the period. Raymond James & Associates raised its position in Biohaven by 3.5% during the 4th quarter. Raymond James & Associates now owns 28,499 shares of the company’s stock valued at $1,220,000 after purchasing an additional 954 shares in the last quarter. Swiss National Bank raised its position in Biohaven by 1.0% during the 3rd quarter. Swiss National Bank now owns 127,500 shares of the company’s stock valued at $3,316,000 after purchasing an additional 1,300 shares in the last quarter. Weybosset Research & Management LLC lifted its holdings in shares of Biohaven by 12.4% in the 4th quarter. Weybosset Research & Management LLC now owns 13,640 shares of the company’s stock worth $584,000 after buying an additional 1,500 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Biohaven by 5.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,094 shares of the company’s stock worth $1,716,000 after buying an additional 2,023 shares in the last quarter. Institutional investors own 88.78% of the company’s stock.

Biohaven Company Profile

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.