HC Wainwright Comments on Biohaven FY2029 Earnings

• Biohaven Insiders Bet $33 Million on a Turnaround

Biohaven Ltd. (NYSE:BHVN - Free Report) - HC Wainwright issued their FY2029 earnings per share (EPS) estimates for Biohaven in a research note issued to investors on Wednesday, December 3rd. HC Wainwright analyst D. Tsao forecasts that the company will post earnings of $1.25 per share for the year. HC Wainwright has a "Neutral" rating and a $11.00 price objective on the stock. The consensus estimate for Biohaven's current full-year earnings is ($8.90) per share.

BHVN has been the topic of several other research reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of Biohaven in a report on Monday. William Blair reaffirmed a "market perform" rating on shares of Biohaven in a research report on Tuesday, November 11th. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Biohaven in a research note on Wednesday, November 5th. UBS Group cut Biohaven from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $26.00 to $11.00 in a research note on Wednesday, November 26th. Finally, Cowen restated a "buy" rating on shares of Biohaven in a report on Wednesday, November 5th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Biohaven presently has an average rating of "Moderate Buy" and a consensus target price of $25.93.

• Biohaven Stock Soars on Drug Trial Results: Time to Jump In?

Check Out Our Latest Stock Analysis on Biohaven

Biohaven Stock Up 5.3%

Shares of NYSE BHVN opened at $9.60 on Friday. The company has a quick ratio of 2.86, a current ratio of 2.86 and a debt-to-equity ratio of 1.91. The firm has a market cap of $1.02 billion, a PE ratio of -1.26 and a beta of 1.13. The company's fifty day simple moving average is $13.00 and its 200 day simple moving average is $14.18. Biohaven has a 12-month low of $7.48 and a 12-month high of $46.23.

Biohaven (NYSE:BHVN - Get Free Report) last announced its quarterly earnings data on Monday, November 10th. The company reported ($1.64) EPS for the quarter, topping the consensus estimate of ($1.91) by $0.27.

Insider Activity

In other news, Director Gregory Bailey acquired 400,000 shares of Biohaven stock in a transaction on Thursday, November 13th. The stock was acquired at an average cost of $7.50 per share, with a total value of $3,000,000.00. Following the transaction, the director owned 2,020,071 shares of the company's stock, valued at approximately $15,150,532.50. This trade represents a 24.69% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Vlad Coric acquired 666,666 shares of the firm's stock in a transaction on Thursday, November 13th. The stock was purchased at an average price of $7.50 per share, with a total value of $4,999,995.00. Following the purchase, the chief executive officer owned 1,195,275 shares in the company, valued at approximately $8,964,562.50. The trade was a 126.12% increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders have purchased 4,416,999 shares of company stock worth $33,144,833. Company insiders own 16.00% of the company's stock.

Hedge Funds Weigh In On Biohaven

Several institutional investors have recently modified their holdings of the business. Y Intercept Hong Kong Ltd boosted its position in Biohaven by 838.2% in the second quarter. Y Intercept Hong Kong Ltd now owns 251,882 shares of the company's stock worth $3,554,000 after purchasing an additional 225,036 shares during the last quarter. Simplify Asset Management Inc. purchased a new stake in shares of Biohaven during the 2nd quarter valued at $1,360,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Biohaven during the 2nd quarter worth $244,000. Rhumbline Advisers raised its stake in shares of Biohaven by 6.2% during the 1st quarter. Rhumbline Advisers now owns 124,839 shares of the company's stock worth $3,001,000 after purchasing an additional 7,244 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Biohaven by 31.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,572,042 shares of the company's stock worth $36,292,000 after buying an additional 612,209 shares during the last quarter. 88.78% of the stock is owned by institutional investors.

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.

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