Biohaven Ltd. (BHVN) Stock Price & Analysis
Biohaven Ltd. (BHVN) closed at USD 16.49 on Thursday, October 29, 2026, up 6.25% on the day. The US market is currently closed (after-hours); this is not a live price.
The prior close was USD 15.52; the Oct 29, 2026 session ranged USD 15.46–16.49 on volume of 2,447,937 shares. Market capitalization is $2.49B, with a 52-week range of USD 7.48–18.57 (NYQ). Source: Nexqual, retrieved October 29, 2026 at 22:41 UTC.
Also available as compact Markdown for AI agents: nexqual.com/BHVN.md
Key facts (BHVN)
- Analysts: Buy (mean 2.24 on a 1–5 scale) (17 analysts), mean target USD 22.93 (range 10–48).
- Total return with dividends: 1Y -5.2% vs S&P 500 +14.4%; 5Y +131.1% vs S&P 500 +79.1%.
- Next earnings: 2026-10-29, EPS estimate USD 0.16, revenue estimate $50.0M. All companies reporting that day: https://nexqual.com/earnings/2026-10-29
- Dividend: BHVN paid no cash dividend in the last five years.
- Short interest: 15.16% of float (as of 2026-10-15), 7.2 days to cover.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (BHVN)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Operating income | -$219M | -$568M | -$436M | -$885M | -$745M | -$567M |
| Net income | -$214M | -$570M | -$408M | -$846M | -$739M | -$587M |
| EPS (diluted) | -$5.43 | -$12.75 | -$5.73 | -$9.28 | -$6.86 | — |
| Free cash flow | -$147M | -$304M | -$335M | -$587M | -$610M | -$512M |
| Cash + short-term investments | $76.1M | $465M | $382M | $486M | $319M | — |
| Total debt | — | — | — | $0K | $239M | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jun 30, 2026) (BHVN)
P/B 203.8x · FCF yield -20.55% · Earnings yield -23.56% · Net cash $8.4M · EV $2.48B
Analysts (BHVN)
Consensus Buy (mean 2.24 on a 1–5 scale), 17 analysts; mean target USD 22.93 (low 10, high 48).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-23 | RBC Capital | Target raised | Sector Perform | $19 → $22 |
| 2026-09-10 | HC Wainwright & Co. | Reiterated | Neutral | $10 |
| 2026-09-08 | RBC Capital | Downgrade | Outperform → Sector Perform | $23 → $19 |
| 2026-08-12 | Morgan Stanley | Target raised | Overweight | $18 → $19 |
| 2026-08-11 | RBC Capital | Target raised | Outperform | $22 → $23 |
Total return (dividends reinvested) (BHVN)
| 1Y (from 2025-10-30) | 5Y (from 2022-09-19) | |
|---|---|---|
| Total return | -5.2% | +131.1% |
| S&P 500 (SPY) | +14.4% | +79.1% |
| Per year | -5.2% | +22.6% |
| Volatility (annualized) | 97.2% | 88.7% |
| Max drawdown | -55.2% (Oct 2025→Nov 2025) | -85.8% (Mar 2024→Nov 2025) |
Dividends (BHVN)
BHVN paid no cash dividend in the last five years.
Short interest (BHVN)
17,899,310 shares sold short, 15.16% of the float, as of Oct 15, 2026 (exchange short-interest report, published about twice a month). Prior report (Sep 15, 2026): 20,449,005 shares (-12.5%). Days to cover: 7.2 (short shares ÷ average daily volume).
BHVN earnings history and stock reaction
| Results filed | Quarter | EPS | Consensus | Surprise | Stock reaction |
|---|---|---|---|---|---|
| — | Quarter ended Jun 30, 2026 | −$0.78 | −$0.61 | Miss −27.9% | — |
| — | Quarter ended Mar 31, 2026 | −$0.69 | −$0.76 | Beat +9.2% | — |
| — | Quarter ended Dec 31, 2025 | −$0.90 | −$0.96 | Beat +6.3% | — |
| — | Quarter ended Sep 30, 2025 | −$1.47 | −$1.54 | Beat +4.5% | — |
EPS as reported against the analyst consensus before the release; surprise uses the cent-rounded figures shown (in dollars when EPS and consensus have opposite signs). Stock reaction = close before the results to close after (the first close following a release after the bell or before the open).
BHVN recent SEC filings (last 120 days)
| Filed | Form | What it says |
|---|---|---|
| Oct 29, 2026 | 8-K | Quarterly results |
| Oct 29, 2026 | 10-Q | Quarterly report · period ended Sep 30, 2026 |
| Oct 22, 2026 | 8-K | Regulation FD disclosure |
| Oct 15, 2026 | 8-K | Entered a material agreement; Regulation FD disclosure “Collaboration and License Agreement On October 8, 2026, Biohaven Ltd., together with its wholly owned subsidiaries (the "Company"), entered into a Collaboration and License Agreement (the "License Agreement") with Ono Pharmaceutical Co., Ltd. ("Ono"). Pursuant to the License Agreement, the Company granted Ono an exclusive, royalty-bearing license, with the right to grant sublicenses subject to the terms of the License Agreement, to develop and commercialize the Company's MoDE pan IgG degrader portfolio, led by…” |
| Sep 10, 2026 | 8-K | Other material event “Biohaven Ltd. (the "Company," "we" or "our") is providing updates to the BHV-7000 program. We refer you to our Quarterly Report on Form 10-Q for the quarter ended June 30, 2026 for a description of the BHV-7000 program. In January 2024, we completed our End-of-Phase 2 meeting with the U.S. Food and Drug Administration ("FDA") to advance to Phase 3 trials and announced that more than 110 global clinical sites have been selected in the first of two focal epilepsy trials (BHV7000-302 and BHV7000-303). Enrollment in…” |
| Aug 26, 2026 | 8-K | Entered a material agreement; Regulation FD disclosure “License Agreement On August 26, 2026, Biohaven Bioscience Ireland Limited ("BBIL"), a wholly owned subsidiary of Biohaven Ltd. (the "Company"), entered into a License Agreement (the "License Agreement") with SK Biopharmaceuticals Co., Ltd. ("SKBP"). Pursuant to the License Agreement, effective upon the closing of the transactions contemplated thereby (the "Closing"), BBIL will grant SKBP an exclusive, royalty-bearing, worldwide license, with the right to grant sublicenses subject to the terms of the License…” |
| Aug 14, 2026 | Schedule 13G | Woodline Partners LP: 5.1% of shares, passive 5%+ holder |
| Aug 10, 2026 | 8-K | Quarterly results |
| Aug 10, 2026 | 10-Q | Quarterly report · period ended Jun 30, 2026 |
| Aug 7, 2026 | 8-K | Director or executive officer change, or pay arrangement “On August 3, 2026, the Board of Directors (the "Board") of Biohaven Ltd. (the "Company") appointed John Yetimoglu as a director, effective August 6, 2026. Mr. Yetimoglu will serve in the class of directors whose term will expire at the Company's 2027 Annual Meeting of Shareholders. Mr. Yetimoglu has also been appointed as a member of the Nominating and Governance Committee of the Board. There is no arrangement or understanding between Mr. Yetimoglu and any other person pursuant to which he was selected as a…” |
| Jul 9, 2026 | 8-K | Director or executive officer change, or pay arrangement “On July 9, 2026, Biohaven Ltd. (the "Company") and Bruce Car, Ph.D., mutually agreed that, effective July 13, 2026, Dr. Car will retire as Chief Scientific Officer of the Company and will remain with the Company as a part-time employee in the newly created role of Chief Innovation Officer. As Chief Innovation Officer, Dr. Car will focus on advancing Biohaven's scientific initiatives and external collaborations, including leading multiple assets under the Company's collaboration with Bexorg, Inc. Dr. Car will…” |
| Jul 8, 2026 | Schedule 13G/A | JANUS HENDERSON GROUP Ltd.: 5.7% of shares, passive 5%+ holder (amended) |
Source: SEC EDGAR. Quotes are the opening words of each item as filed; each form links to the filing. Insider Form 4 filings are listed in the insider sections.
BHVN suppliers, customers and competitors (named in its 10-K)
| Relationship | Company | Sentence in the filing |
|---|---|---|
| Supplier | REGENERON PHARMACEUTICALS, INC. (REGN) | “In May 2024, we announced that we entered into a clinical supply agreement with Regeneron Pharmaceuticals, Inc. ("Regeneron") under which we will sponsor and fund the planned combination Phase 1/2 clinical trial, and Regeneron will provide Libtayo.” |
| Partner | Hangzhou Highlightll Pharmaceutical | “In March 2023, we entered into an exclusive, worldwide (excluding China and its territories and possessions) license agreement with Hangzhou Highlightll Pharmaceutical Co. Ltd. ("Highlightll") (the "Highlightll Agreement"), pursuant to which we obtained the right to research, develop, manufacture and commercialize Highlightll's brain penetrant dual TYK2/JAK1 inhibitor program.” |
| Partner | GeneQuantum Healthcare | “Based on the early results for BHV-1510, we entered into an expanded collaboration agreement with GeneQuantum Healthcare Co. Ltd. ("GeneQuantum"), which provides broad target exclusivity for up to 18 ADC targets incorporating the TopoIx payload.” |
| Partner | Pfizer (PFE) | “Under Dr. Coric's leadership, the Former Parent entered into several strategic arrangements, including its Collaboration and License agreement with Pfizer, Inc. for the development of rimegepant and zavegepant outside of the United States.” |
| Partner | MYRIAD GENETICS INC (MYGN) | “Myriad Genetics, Inc., Mayo Collaborative Services v.” |
Quoted from the company's 10-K filed Mar 2, 2026.
BHVN company outlook (results filed Oct 29, 2026)
- “More than 50 sites have been activated for enrollment in the US and Canada, with additional site openings expected in Japan, Australia, the UK and the EU. • On track to initiate the pivotal Phase 3 trial of BHV-1400, a TRAP™ extracellular degrader targeting galactose-deficient IgA1 (Gd-IgA1), in IgA nephropathy (IgAN) during 4Q 2026.”
- “(NYSE: BHVN) (Biohaven or the Company), a global clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of life-changing therapies to treat a broad range of rare and common diseases, today provided a review of recent accomplishments and anticipated upcoming developments for the third quarter ended September 30, 2026.”
- “We are making meaningful progress with the first degraders from our MoDE and TRAP platforms, with BHV-1300 now in a pivotal Phase 3 trial in Graves' disease and BHV-1400 expected to begin its next stage of clinical development in IgA nephropathy in the second half of 2026.”
- “Biohaven will receive up to $100 million in near-term payments, consisting of an $80 million upfront payment received to date and a $20 million milestone payment upon achievement of a milestone anticipated within a year of signing, and is eligible to receive royalties of approximately 20 percent on net sales by Ono in the licensed territory. ◦ Retained rights.”
Quoted word-for-word from the SEC 8-K results press release.
BHVN analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Sep 2026) | $0.16 | $-0.57 | +$0.73 | $50.0M | 6 |
| Next quarter (ends Dec 2026) | $-0.13 | $-0.49 | +$0.36 | $80.7M | 6 |
| Current fiscal year (ends Dec 2026) | $-1.30 | $-2.41 | +$1.11 | $122.0M | 6 |
| Next fiscal year (ends Dec 2027) | $-1.74 | $-1.94 | +$0.20 | $65.0M | 6 |
Key Statistics (as of October 29, 2026 at 22:41 UTC)
| Price | USD 16.49 |
|---|---|
| Change | ▲ 6.25% (up) |
| Previous Close | USD 15.52 |
| Open | USD 15.46 |
| Day Range | USD 15.46 – 16.49 |
| 52-Week Range | USD 7.48 – 18.57 |
| Volume | 2,447,937 shares |
| Market Cap | $2.49B |
| Exchange | NYQ |
Technical Analysis (BHVN)
Nexqual's technical model rates BHVN "BUY" based on 5 bullish and 3 bearish signals across 127 daily candles, as of October 29, 2026 at 22:41 UTC.
| Overall Signal | BUY |
|---|---|
| RSI (14) | 70.67 (overbought) |
| vs SMA50 | Above (USD 13.59) |
| MACD | 0.57 (positive) |
Analyst Ratings (BHVN)
Wall Street analysts rate BHVN "Buy" based on 17 analysts, with a mean price target of USD 22.93 (range USD 10–48), per Nexqual as of October 29, 2026 at 22:41 UTC.
| Consensus Rating | Buy |
|---|---|
| Analyst Count | 17 |
| Mean Target | USD 22.93 |
| High Target | USD 48 |
| Low Target | USD 10 |
| Buy / Hold / Sell | 12 / 4 / 1 |
Earnings (BHVN)
| Next Earnings Date | 2026-10-29 |
|---|---|
| EPS Estimate | USD 0.16 |
| Revenue Estimate | $50.00M |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-06-30 | USD -0.78 vs est -0.61 ▼ miss |
| 2026-03-31 | USD -0.69 vs est -0.76 ▲ beat |
| 2025-12-31 | USD -0.9 vs est -0.96 ▲ beat |
| 2025-09-30 | USD -1.47 vs est -1.54 ▲ beat |
Source: Nexqual, October 29, 2026 at 22:41 UTC.
Financials & Fundamentals (BHVN)
| Gross Margin | +0.00% |
|---|---|
| Operating Margin | +0.00% |
| Profit Margin | +0.00% |
| ROE | -799.46% |
| Debt / Equity | 24.3 |
| Current Ratio | 4.73 |
| Total Cash | $267.87M |
| Total Debt | $297.04M |
Source: Nexqual, October 29, 2026 at 22:41 UTC.
Financial Health Score (BHVN)
Nexqual rates Biohaven Ltd.'s overall financial health "Weak" across five dimensions, as of October 29, 2026 at 22:41 UTC.
| Growth | Mixed — No data |
|---|---|
| Profitability | Weak — Pre-revenue or very early stage |
| Balance Sheet | Weak — $268M cash and investments vs $259M debt (Jun 2026, SEC), net cash |
| Cash Flow | Weak — Operating cash flow -$609M (FY ended Dec 2025, 10-K) |
| Efficiency | Critical — ROE not meaningful (equity is 3.3% of assets); ROA -158.3% (last 4 quarters, SEC) |
Ownership (BHVN)
| Insider Ownership | +11.21% |
|---|---|
| Institutional Ownership | +95.74% |
| Shares Outstanding | 151.04M |
| Float | 116.57M |
| Short % of Float | +15.16% |
Source: Nexqual, October 29, 2026 at 22:41 UTC.
Leadership (BHVN)
Biohaven Ltd. is led by Vladimir Coric, Chairman & CEO, per Nexqual as of October 29, 2026 at 22:41 UTC.
| Chairman & CEO | Vladimir Coric |
|---|---|
| Chief Financial Officer | Matthew Buten |
| Senior Vice President of Clinical Operations | Kimberly Gentile |
| Senior Director of Regulatory Affairs & Operations | Deb Young |
| Chief Technology Officer | John McGill |
Major Backers & Investors (BHVN)
Notable institutional backers of Biohaven Ltd. include Montanova Capital LLC, Stifel Financial Corporation, Jupiter Topco LLC, according to Nexqual as of October 29, 2026 at 22:41 UTC.
Active Investors
| Investor | Stake |
|---|---|
| Montanova Capital LLC | 6.81% |
| Stifel Financial Corporation | 6.58% |
| Jupiter Topco LLC | 5.68% |
| Woodline Partners LP | 5.07% |
| Infinitum Asset Management, LLC | 4.14% |
| Shaw D.E. & Co., Inc. | 2.77% |
| AQR Capital Management, LLC | 2.75% |
| Fidelity | 2.41% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| BlackRock | 8.75% |
| State Street | 4.6% |
Source: Nexqual, October 29, 2026 at 22:41 UTC.
From Biohaven Ltd.'s Latest SEC 10-K Filing (filed 2026-03-02)
Key Strengths & Strategy (as disclosed to the SEC)
- We have applied these analyses to the generation of proprietary chemical leads structurally distinct from known Kv7 activators, including ezogabine and flupirtine, the only other approved Kv7 modulator, approved in Europe for the treatment of acute pain.
- Given these findings and the debilitating nature of SCA, in May 2023 we announced that we submitted a New Drug Application ("NDA") to the FDA for troriluzole for the treatment of SCA3.
- In October 2023, the European Medicines Agency ("EMA") informed us that our Marketing Authorization Application ("MAA") for troriluzole (Dazluma) in the treatment of SCA3 was validated and was then under review by EMA's Committee for Medicinal Products for Human Use ("CHMP").
Partnerships
- Notably, the f-SARA is a novel, 16-point scale developed in collaboration with FDA and key opinion leaders as the primary outcome measure for this trial; the scale was designed to limit subjectivity of the scale and focus on functional aspects of the disease so that significant changes would reflect a clinically meaningful change in function.
- In February 2022, we announced that we entered into a definitive agreement with Channel Biosciences, LLC, a subsidiary of Knopp Biosciences, LLC, to acquire a drug discovery platform targeting Kv7 ion channels, adding the latest advances in ion channel modulation to our growing neuroscience portfolio.
Legal & Regulatory Risks (Item 1A, quoted)
- We may not obtain or maintain orphan drug designation or exclusivity for our product candidates.
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
Peers & Related Stocks
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|---|---|---|---|
| ORKA | Oruka Therapeutics, Inc. | USD 96.65 | ▲ 0.71% |
| RYTM | Rhythm Pharmaceuticals, Inc. | USD 93.07 | ▲ 1.2% |
| KOD | Kodiak Sciences Inc | USD 100.4 | ▲ 3.46% |
| IONS | Ionis Pharmaceuticals, Inc. | USD 44.39 | ▼ 1.14% |
| AXSM | Axsome Therapeutics, Inc. | USD 143.45 | ▼ 0.04% |
| ABVX | Abivax SA | USD 89.06 | ▼ 0.87% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 29, 2026 at 22:41 UTC. This page is informational and not investment advice.
For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt