Symbols / BHVN Stock $14.96 +1.22% Biohaven Ltd.

Healthcare • Biotechnology • United States • NYQ
BHVN (Stock) Chart
O: — H: — L: — C: — V: —
SMA 20: — SMA 50: — SMA 200: —
Stock Fundamentals
Scroll to Statements
Index EQUITY
Sector Healthcare
Industry Biotechnology
CEO Dr. Vladimir Coric M.D.
Exch · Country NYQ · United States
Market Cap 2.25B
Enterprise Value 2.16B
Income -647.68M
Sales —
FCF (ttm) -379.37M
Book/sh 0.86
Cash/sh 2.31
Employees 274
Insider 10d —
IPO Sep 23, 2022
Div forward ($/yr)
Div TTM ($/yr)
Dividend Yield
Ex-Div Date
5Y Avg Yield
Yield vs 5Y Avg
Payout 0.00%
P/E —
Forward P/E -7.66
PEG —
P/S —
P/B 17.40
P/C —
EV/EBITDA -3.56
EV/Sales —
Quick Ratio 6.68
Current Ratio 7.41
Debt/Eq 220.99
LT Debt/Eq —
EPS (ttm) -5.57
EPS next Y -1.95
EPS Growth —
Revenue Growth —
EPS Gr Q/Q —
Rev Gr Q/Q —
Earnings (next) 2026-05-04
Earnings (prior) 2026-05-04
ROA -83.38%
ROE -3.33%
ROIC —
Gross Margin 0.00%
Oper. Margin 0.00%
Profit Margin 0.00%
Shs Outstand 150.56M
Shs Float 124.00M
Insider Own 11.08%
Instit Own 97.59%
Short Float 21.47%
Short Ratio 10.67
Short Interest 25.25M
52W High 18.57
vs 52W High -19.42%
52W Low 7.48
vs 52W Low 100.00%
Beta 3.31
Impl. Vol. 89.16%
Rel Volume 0.69
Avg Volume 2.56M
Volume 1.76M
Target (mean) $21.71
Tgt Median $18.00
Tgt Low $9.00
Tgt High $50.00
# Analysts 17
Recom Buy
Prev Close $14.78
Price $14.96
Change 1.22%
About

Biohaven Ltd., a biopharmaceutical company, focuses on the discovery, development, and commercialization of treatments for immunology, neuroscience, and oncology therapeutic areas worldwide. It develops BHV-1300, which is in Phase 2 clinical trial to treat Graves' disease and rheumatoid arthritis; BHV-1400 that is in Phase 2 clinical trial for treating IgA nephropathy; BHV-1600, which is in Phase 1 clinical trial for the treatment of peripartum cardiomyopathy; BHV-8000 that is in Phase 3 clinical trial for treating Parkinson's disease; Opakalim, which is in Phase 3 clinical trial for the treatment of focal epilepsy; BHV-2100 that is in Phase 2 clinical trial for the treatment of pain disorders; and BHV-2000, which is in Phase 2 clinical trial for treating obesity. The company is also developing BHV-1510 that is in Phase 2 clinical trial for the treatment of advanced or metastatic epithelial tumors; and BHV-1530, which is in Phase 2 clinical trial for treating urothelial cancer and other tumors. In addition, its preclinical product pipeline includes BHV-1310 for treating myasthenia gravis; BHV-1320 for treating immune mediated-diseases; BHV-1450 for treating Pemphigus, MuSK MG, and LGI-1 Encephalitis; BHV-1420 for treating membranous nephropathy; BHV-1440 for treating Graves' disease and TED; BHV-6500 for treating type 1 diabetes; BHV-1490 for treating IgM neuropathy and Waldenstrom's; BHV-8100 for treating neurodegenerative diseases; and BHV-1955 for treating tinnitus. The company was formerly known as Biohaven Research Ltd. and changed its name to Biohaven Ltd. in September 2022. Biohaven Ltd. was incorporated in 2022 and is headquartered in New Haven, Connecticut.

Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$21.71
Mean price target
2. Current target
$14.96
Latest analyst target
3. DCF / Fair value
$-45.36
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$14.96
Low
$9.00
High
$50.00
Mean
$21.71

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-05-26 reit HC Wainwright & Co. Neutral → Neutral $10
2026-05-13 main Morgan Stanley Overweight → Overweight $18
2026-05-05 main RBC Capital Outperform → Outperform $22
2026-04-02 main Citigroup Buy → Buy $17
2026-03-11 main TD Cowen Buy → Buy $30
2026-03-04 main HC Wainwright & Co. Neutral → Neutral $10
2026-03-03 main RBC Capital Outperform → Outperform $23
2026-01-21 up RBC Capital Sector Perform → Outperform $22
2026-01-06 main Morgan Stanley Overweight → Overweight $21
2025-12-26 reit HC Wainwright & Co. Neutral → Neutral $11
2025-12-03 down HC Wainwright & Co. Buy → Neutral $11
2025-11-26 down UBS Buy → Neutral $11
2025-11-20 main JP Morgan Overweight → Overweight $15
2025-11-18 main Morgan Stanley Overweight → Overweight $26
2025-11-18 reit BTIG Buy → Buy $16
2025-11-13 main Citigroup Buy → Buy $14
2025-11-06 down Bernstein Outperform → Market Perform $9
2025-11-06 main RBC Capital Sector Perform → Sector Perform $9
2025-11-06 main BTIG Buy → Buy $16
2025-11-05 down William Blair Outperform → Market Perform —
News
RSS: Latest BHVN news
Insider Transactions
Filed Date Insider Relationship Transaction Shares Price Value SEC
2026-03-17 MEHTA KISHAN Director — 17,342 $0.00 $0
2026-01-05 GENTILE KIMBERLY A Officer — 3,750 — —
2026-01-05 CORIC VLADIMIR Chief Executive Officer — 14,250 — —
2026-01-05 CAR BRUCE Officer — 4,750 — —
2026-01-05 CLARK GEORGE C. Officer — 2,500 — —
2026-01-05 BUTEN MATTHEW Chief Financial Officer — 4,250 — —
2025-11-17 CLARK GEORGE C. Officer — 17,000 $8.52 $144,770
2025-11-13 CHILDS JOHN W Director — 3,333,333 $7.50 $24,999,998
2025-11-13 BAILEY GREGORY HUGH Director — 400,000 $7.50 $3,000,000
2025-11-13 CORIC VLADIMIR Chief Executive Officer — 666,666 $7.50 $4,999,995
Financials
Statement View
Amounts in millions (2 decimals, no suffix) • EPS per share (2 decimals) • Trend = period evolution • YoY Growth = previous period %
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Revenue
0.00
0.00
0.00
0.00
Operating Revenue
0.00
0.00
0.00
0.00
Operating Expense
745.38
-15.79%
885.11
+102.98%
436.05
-23.22%
567.93
Research And Development
635.07
-20.21%
795.87
+113.21%
373.28
-14.60%
437.07
Selling General And Administration
110.31
+23.61%
89.24
+42.17%
62.77
-52.03%
130.86
General And Administrative Expense
110.31
+23.61%
89.24
+42.17%
62.77
-52.03%
130.86
Other Gand A
110.31
+23.61%
89.24
+42.17%
62.77
-52.03%
130.86
Total Expenses
745.38
-15.79%
885.11
+102.98%
436.05
-23.22%
567.93
Operating Income
-745.38
+15.79%
-885.11
-102.98%
-436.05
+23.22%
-567.93
Total Operating Income As Reported
-745.38
+15.79%
-885.11
-102.98%
-436.05
+23.22%
-567.93
EBITDA
-735.46
+16.16%
-877.26
-104.42%
-429.14
+24.25%
-566.55
Normalized EBITDA
-735.46
+16.16%
-877.26
-104.42%
-429.14
+24.25%
-566.55
Reconciled Depreciation
9.92
+26.31%
7.86
+13.64%
6.91
+398.70%
1.39
EBIT
-745.38
+15.79%
-885.11
-102.98%
-436.05
+23.22%
-567.93
Net Income
-738.82
+12.71%
-846.42
-107.37%
-408.17
+28.43%
-570.28
Pretax Income
-737.38
+12.81%
-845.69
-106.49%
-409.55
+28.13%
-569.84
Other Income Expense
8.00
-79.71%
39.42
+48.77%
26.50
+1488.16%
-1.91
Other Non Operating Income Expenses
8.00
-79.71%
39.42
+48.77%
26.50
+1488.16%
-1.91
Tax Provision
1.44
+96.19%
0.73
+153.15%
-1.38
-415.75%
0.44
Tax Rate For Calcs
0.00
+0.00%
0.00
+6118.54%
0.00
-98.39%
0.00
Tax Effect Of Unusual Items
0.00
0.00
0.00
0.00
Net Income Including Noncontrolling Interests
-738.82
+12.71%
-846.42
-107.37%
-408.17
+28.43%
-570.28
Net Income From Continuing Operation Net Minority Interest
-738.82
+12.71%
-846.42
-107.37%
-408.17
+28.43%
-570.28
Net Income From Continuing And Discontinued Operation
-738.82
+12.71%
-846.42
-107.37%
-408.17
+28.43%
-570.28
Net Income Continuous Operations
-738.82
+12.71%
-846.42
-107.37%
-408.17
+28.43%
-570.28
Normalized Income
-738.82
+12.71%
-846.42
-107.37%
-408.17
+28.43%
-570.28
Net Income Common Stockholders
-738.82
+12.71%
-846.42
-107.37%
-408.17
+28.43%
-570.28
Diluted EPS
-6.86
+26.08%
-9.28
-61.95%
-5.73
+55.06%
-12.75
Basic EPS
-6.86
+26.08%
-9.28
-61.95%
-5.73
+55.06%
-12.75
Basic Average Shares
107.62
+17.97%
91.23
+28.14%
71.20
+59.14%
44.74
Diluted Average Shares
107.62
+17.97%
91.23
+28.14%
71.20
+59.14%
44.74
Diluted NI Availto Com Stockholders
-738.82
+12.71%
-846.42
-107.37%
-408.17
+28.43%
-570.28
Earnings From Equity Interest
—
—
0.00
0.00
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Assets
451.45
-26.61%
615.11
+19.85%
513.21
-22.45%
661.78
Current Assets
368.33
-31.60%
538.47
+21.70%
442.45
-24.62%
586.97
Cash Cash Equivalents And Short Term Investments
319.14
-34.33%
485.99
+27.28%
381.82
-17.95%
465.34
Cash And Cash Equivalents
229.96
+131.97%
99.13
-60.09%
248.40
+21.24%
204.88
Cash Financial
—
—
—
—
Other Short Term Investments
89.18
-76.95%
386.86
+189.96%
133.42
-48.78%
260.46
Receivables
—
2.60
-80.40%
13.25
-71.28%
46.14
Taxes Receivable
—
2.60
-80.40%
13.25
-71.28%
46.14
Prepaid Assets
47.02
-4.77%
49.38
+40.11%
35.24
+68.26%
20.95
Restricted Cash
—
—
0.00
-100.00%
35.21
Other Current Assets
2.17
-30.11%
3.10
-74.41%
12.13
-37.24%
19.33
Total Non Current Assets
83.12
+8.46%
76.64
+8.29%
70.77
-5.41%
74.81
Net PPE
61.02
+13.61%
53.71
+10.57%
48.58
-7.37%
52.44
Gross PPE
77.15
+17.04%
65.92
+15.93%
56.86
-0.86%
57.35
Accumulated Depreciation
-16.13
-32.12%
-12.21
-47.36%
-8.28
-68.56%
-4.91
Properties
0.00
0.00
0.00
0.00
Land And Improvements
—
—
—
12.30
Buildings And Improvements
14.08
+0.00%
14.08
+20.04%
11.73
-4.63%
12.30
Machinery Furniture Equipment
15.31
+7.05%
14.31
+15.50%
12.39
+65.52%
7.48
Construction In Progress
—
—
—
—
Other Properties
45.06
+22.74%
36.71
+14.92%
31.94
-14.99%
37.57
Leases
2.70
+227.31%
0.82
+2.74%
0.80
0.00
Goodwill And Other Intangible Assets
19.79
+0.00%
19.79
+0.00%
19.79
+0.00%
19.79
Goodwill
1.39
+0.00%
1.39
+0.00%
1.39
+0.00%
1.39
Other Intangible Assets
18.40
+0.00%
18.40
+0.00%
18.40
+0.00%
18.40
Investments And Advances
—
—
—
0.00
Long Term Equity Investment
—
—
—
—
Other Investments
—
—
—
0.00
Other Non Current Assets
2.31
-26.42%
3.13
+30.58%
2.40
-7.16%
2.58
Total Liabilities Net Minority Interest
399.38
+108.36%
191.67
+124.87%
85.24
-30.71%
123.01
Current Liabilities
115.93
-24.83%
154.23
+178.27%
55.42
-38.43%
90.02
Payables And Accrued Expenses
50.69
-22.69%
65.56
+25.80%
52.12
-28.02%
72.40
Payables
11.64
-35.42%
18.03
+15.74%
15.58
-66.07%
45.91
Accounts Payable
11.64
-35.42%
18.03
+15.74%
15.58
+45.54%
10.70
Current Accrued Expenses
39.04
-17.86%
47.53
+30.09%
36.54
+37.96%
26.48
Pensionand Other Post Retirement Benefit Plans Current
16.78
+10796.75%
0.15
-81.60%
0.84
-94.27%
14.60
Current Debt And Capital Lease Obligation
5.76
+51.39%
3.80
+14.93%
3.31
+9.57%
3.02
Current Capital Lease Obligation
5.76
+51.39%
3.80
+14.93%
3.31
+9.57%
3.02
Other Current Liabilities
42.71
-49.58%
84.71
—
11.71
Total Non Current Liabilities Net Minority Interest
283.44
+656.95%
37.45
+25.60%
29.81
-9.63%
32.99
Long Term Debt And Capital Lease Obligation
278.86
+750.64%
32.78
+18.91%
27.57
-9.85%
30.58
Long Term Debt
238.90
—
—
—
Long Term Capital Lease Obligation
39.96
+21.89%
32.78
+18.91%
27.57
-9.85%
30.58
Other Non Current Liabilities
4.58
-1.72%
4.66
+107.71%
2.25
-6.85%
2.41
Stockholders Equity
52.07
-87.70%
423.44
-1.06%
427.98
-20.56%
538.77
Common Stock Equity
52.07
-87.70%
423.44
-1.06%
427.98
-20.56%
538.77
Capital Stock
1,934.28
+16.75%
1,656.70
+86.66%
887.53
+44.14%
615.74
Common Stock
1,934.28
+16.75%
1,656.70
+86.66%
887.53
+44.14%
615.74
Preferred Stock
0.00
0.00
0.00
0.00
Share Issued
132.78
+31.17%
101.22
+24.79%
81.12
+18.95%
68.19
Ordinary Shares Number
132.78
+31.17%
101.22
+24.79%
81.12
+18.95%
68.19
Additional Paid In Capital
193.98
+72.63%
112.37
+182.31%
39.80
+187.00%
13.87
Retained Earnings
-2,084.54
-54.90%
-1,345.71
-169.52%
-499.29
-447.93%
-91.12
Gains Losses Not Affecting Retained Earnings
8.35
+10467.09%
0.08
+221.54%
-0.07
-122.89%
0.28
Minority Interest
—
—
—
0.00
Other Equity Adjustments
8.35
+10467.09%
0.08
+221.54%
-0.07
-122.89%
0.28
Total Equity Gross Minority Interest
52.07
-87.70%
423.44
-1.06%
427.98
-20.56%
538.77
Total Capitalization
290.97
-31.28%
423.44
-1.06%
427.98
-20.56%
538.77
Working Capital
252.40
-34.31%
384.25
-0.72%
387.02
-22.12%
496.95
Invested Capital
290.97
-31.28%
423.44
-1.06%
427.98
-20.56%
538.77
Total Debt
284.61
+677.97%
36.58
+18.48%
30.88
-8.10%
33.60
Net Debt
8.94
—
—
—
Capital Lease Obligations
45.71
+24.96%
36.58
+18.48%
30.88
-8.10%
33.60
Net Tangible Assets
32.28
-92.00%
403.65
-1.11%
408.19
-21.35%
518.98
Tangible Book Value
32.28
-92.00%
403.65
-1.11%
408.19
-21.35%
518.98
Dueto Related Parties Current
—
—
0.00
-100.00%
35.21
Other Equity Interest
—
—
—
—
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Operating Cash Flow
-609.44
-4.63%
-582.45
-75.58%
-331.73
-11.43%
-297.69
Cash Flow From Continuing Operating Activities
-609.44
-4.63%
-582.45
-75.58%
-331.73
-11.43%
-297.69
Net Income From Continuing Operations
-738.82
+12.71%
-846.42
-107.37%
-408.17
+28.43%
-570.28
Depreciation Amortization Depletion
9.92
+26.31%
7.86
+13.64%
6.91
+398.70%
1.39
Depreciation And Amortization
9.92
+26.31%
7.86
+13.64%
6.91
+398.70%
1.39
Other Non Cash Items
5.02
-92.67%
68.48
+324.52%
16.13
+543.95%
2.50
Stock Based Compensation
112.36
+56.14%
71.96
+149.98%
28.79
-85.13%
193.56
Asset Impairment Charge
—
0.00
0.00
-100.00%
10.00
Operating Gains Losses
9.43
-90.47%
98.86
—
93.75
Gain Loss On Investment Securities
9.43
-89.29%
88.05
—
—
Unrealized Gain Loss On Investment Securities
-8.70
0.00
0.00
—
Gain Loss On Sale Of PPE
0.00
-100.00%
10.81
0.00
-100.00%
93.75
Change In Working Capital
1.36
-91.93%
16.81
-31.70%
24.61
+186.05%
-28.60
Change In Prepaid Assets
3.53
-56.10%
8.04
-70.40%
27.18
+165.74%
-41.34
Change In Payables And Accrued Expense
-2.17
-124.79%
8.77
+442.10%
-2.56
-120.13%
12.73
Change In Accrued Expense
4.21
-47.73%
8.06
+208.35%
-7.44
-209.30%
6.80
Change In Payable
-6.39
-999.44%
0.71
-85.43%
4.87
-17.78%
5.93
Change In Account Payable
-6.39
-999.44%
0.71
-85.43%
4.87
-17.78%
5.93
Change In Other Current Assets
—
—
—
0.00
Change In Other Current Liabilities
—
—
—
0.00
Investing Cash Flow
300.56
+222.69%
-244.97
-288.69%
129.83
+142.60%
-304.79
Cash Flow From Continuing Investing Activities
300.56
+222.69%
-244.97
-288.69%
129.83
+142.60%
-304.79
Net PPE Purchase And Sale
-0.71
+82.34%
-4.05
-32.84%
-3.05
+49.82%
-6.07
Purchase Of PPE
-0.71
+82.34%
-4.05
-32.84%
-3.05
+49.82%
-6.07
Capital Expenditure
-0.71
+82.34%
-4.05
-32.84%
-3.05
+92.58%
-41.07
Net Investment Purchase And Sale
303.12
+225.61%
-241.32
-281.61%
132.88
+150.39%
-263.72
Purchase Of Investment
-266.88
+64.21%
-745.68
-284.13%
-194.12
+26.39%
-263.72
Sale Of Investment
570.00
+13.01%
504.36
+54.24%
327.00
0.00
Net Business Purchase And Sale
—
—
0.00
0.00
Net Intangibles Purchase And Sale
0.00
-100.00%
0.39
0.00
+100.00%
-35.00
Purchase Of Intangibles
—
0.00
0.00
+100.00%
-35.00
Net Other Investing Changes
-1.85
—
—
—
Financing Cash Flow
439.12
-35.21%
677.77
+219.84%
211.91
-72.39%
767.60
Cash Flow From Continuing Financing Activities
439.12
-35.21%
677.77
+219.84%
211.91
-72.39%
767.60
Net Issuance Payments Of Debt
250.00
0.00
0.00
—
Issuance Of Debt
250.00
0.00
0.00
—
Long Term Debt Issuance
250.00
0.00
0.00
—
Net Long Term Debt Issuance
250.00
0.00
0.00
—
Net Common Stock Issuance
189.18
-71.60%
666.16
+173.89%
243.22
-14.30%
283.80
Proceeds From Stock Option Exercised
1.83
-84.06%
11.50
+144.96%
4.70
+941.02%
0.45
Net Other Financing Charges
-1.89
-1850.93%
0.11
+100.30%
-36.01
-107.45%
483.34
Changes In Cash
130.24
+187.03%
-149.65
-1594.59%
10.01
-93.94%
165.12
Effect Of Exchange Rate Changes
-0.00
-104.00%
0.07
+115.09%
-0.50
-215.85%
0.43
Beginning Cash Position
102.54
-59.33%
252.12
+3.92%
242.60
+214.84%
77.06
End Cash Position
232.78
+127.01%
102.54
-59.33%
252.12
+3.92%
242.60
Free Cash Flow
-610.15
-4.03%
-586.50
-75.19%
-334.77
+1.18%
-338.76
Interest Paid Supplemental Data
0.22
+72.80%
0.12
0.00
0.00
Income Tax Paid Supplemental Data
0.13
—
—
38.16
Common Stock Issuance
189.18
-71.60%
666.16
+173.89%
243.22
-14.30%
283.80
Earnings Losses From Equity Investments
—
—
0.00
0.00
Issuance Of Capital Stock
189.18
-71.60%
666.16
+173.89%
243.22
-14.30%
283.80
Sale Of Business
—
—
0.00
0.00
Sale Of Intangibles
0.00
-100.00%
0.39
0.00
0.00
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

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