Biohaven Ltd. (BHVN) AI Stock Analysis

• Market Cap: $1.63B
• Dividend Yield: N/A
• Average Volume (3M): 2.06M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.48
• Revenue Growth: N/A
• EPS Growth: 16.36%
• Country: US
• Employees: 256
• Sector: Healthcare
• Sector Strength: 51
• Industry: Biotechnology
• EPS (TTM): -1.94
• Shares Outstanding: 105,791,000
• 10 Day Avg. Volume: 2,018,560
• 30 Day Avg. Volume: 2,061,527
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 0.82
• Enterprise Value/Revenue: 346.93
• Enterprise Value/Gross Profit: -13.72K
• Enterprise Value/Ebitda: -1.69
• 1Y Price Target: $45.00
• Price Target Upside: 183.20% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 14

• Rating: 40 Underperform
• Price Target: ―

Biohaven Ltd.'s overall stock score is low due to substantial financial challenges, including zero revenue and negative cash flow. Technical analysis indicates bearish momentum, and the valuation is unattractive due to a negative P/E ratio. However, the recent $600 million investment provides a positive outlook by supporting clinical developments. Despite this, the overall risks remain significant, making the stock a cautious investment.

Positive Factors

Commercial Strategy

Commercial preparation for a potential US launch is already underway, with Biohaven building a commercialization team and targeting high-volume treatment centers and COEs.

Market Opportunity

There are currently no FDA-approved therapies for spinocerebellar ataxia, which suggests a significant market opportunity for troriluzole upon approval.

Regulatory Process

The FDA's Division of Neurology I no longer requires an advisory committee meeting for regulatory decision-making regarding the NDA for troriluzole in spinocerebellar ataxia.

Negative Factors

Clinical Trial Results

The Phase III trial missed the primary f-SARA endpoint after 1 year of placebo-controlled dosing.

Financial Concerns

There is significant quarterly cash burn, and this issue is not expected to diminish until the SCA looks like it will get approved.

Product Development

Troriluzole failed in OCD, which is disappointing and may also be pressuring the stock.

Biohaven Ltd. Business Overview & Revenue Model

Company Description

Biohaven Ltd. is a clinical-stage biopharmaceutical company. The Company focuses on development of therapies for neurological and immunoscience diseases that can change current treatment paradigms.

How the Company Makes Money

Biohaven Ltd. generates revenue primarily through the sale of its pharmaceutical products designed to treat neurological and neuropsychiatric diseases. The company's key revenue streams include sales from its approved drugs, particularly in the migraine treatment market. Biohaven may also earn income through licensing agreements, where it partners with other pharmaceutical companies to distribute its products in various regions. Additionally, the company could be involved in collaborative research and development agreements, which may provide milestone payments and royalties, contributing to its earnings.

Biohaven Ltd. Financial Statement Overview

Summary

Biohaven Ltd. faces financial challenges with zero revenue and significant operational losses. The balance sheet is stable but lacks growth, and cash flow remains negative with reliance on financing. Overall, financial health is weak, requiring revenue growth and improved cash generation.

Income Statement

Biohaven Ltd. has consistently reported zero revenue in recent years, indicating a lack of product sales or service income. The company has faced significant losses with net income remaining negative, reflecting ongoing operational challenges. This lack of revenue generation alongside substantial losses results in a low income statement score.

Balance Sheet

The balance sheet reveals a relatively stable equity position with stockholders' equity remaining positive. However, the debt-to-equity ratio has been manageable due to low levels of debt. Despite positive cash balances, the company’s equity ratio is impacted by limited asset growth. The overall financial position is stable but lacks significant improvement, contributing to a moderate score.

Cash Flow

Operating cash flow is consistently negative, indicating ongoing cash outflows from core operations. Free cash flow remains negative, reflecting challenges in generating cash after capital expenditures. The cash flow score is limited by the lack of positive cash generation, although financing inflows have supported liquidity.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	3.84M	0.00	0.00	0.00	462.51M	0.00
Gross Profit	-97.00K	-3.92M	-3.37M	-1.39M	370.85M	-72.00K
EBITDA	-786.01M	-841.76M	-429.14M	-566.55M	-217.51M	-114.43M
Net Income	-766.97M	-846.42M	-408.17M	-570.28M	-213.80M	-118.67M
Balance Sheet
Total Assets	550.41M	615.11M	513.21M	661.78M	142.06M	111.50M
Cash, Cash Equivalents and Short-Term Investments	404.98M	485.99M	381.82M	465.34M	76.06M	82.51M
Total Debt	286.87M	36.58M	30.88M	33.60M	3.24M	3.60M
Total Liabilities	415.83M	191.67M	85.24M	123.01M	47.37M	34.72M
Stockholders Equity	134.59M	423.44M	427.98M	538.77M	34.69M	16.78M
Cash Flow
Free Cash Flow	-646.43M	-586.50M	-334.77M	-338.76M	-146.78M	-78.65M
Operating Cash Flow	-645.08M	-582.45M	-331.73M	-297.69M	-145.84M	-75.96M
Investing Cash Flow	-31.74M	-244.97M	129.83M	-304.79M	944.00K	-2.70M
Financing Cash Flow	603.43M	677.77M	211.91M	767.60M	138.45M	152.24M

Biohaven Ltd. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 15.89
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BHVN, the sentiment is Positive. The current price of 15.89 is above the 20-day moving average (MA) of 15.04, above the 50-day MA of 14.52, and below the 200-day MA of 26.52, indicating a neutral trend. The MACD of 0.30 indicates Negative momentum. The RSI at 56.77 is Neutral, neither overbought nor oversold. The STOCH value of 69.54 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for BHVN.

Biohaven Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
KNSA	71 Outperform	$2.48B	814.84	1.03%	―	56.18%	―
LGND	67 Neutral	$3.17B	48.01	-9.46%	―	40.54%	-264.26%
NAMS	61 Neutral	$2.71B	―	-28.43%	―	―	―
ARQT	58 Neutral	$1.86B	―	-57.33%	―	99.50%	65.91%
TARS	54 Neutral	$2.47B	―	-31.46%	―	254.45%	48.06%
Sector *	51 Neutral	$7.86B	-0.33	-41.57%	2.23%	23.26%	-2.03%
BHVN	40 Underperform	$1.63B	―	-295.94%	―	―	16.36%

Biohaven Ltd. Corporate Events

Biohaven Ltd. Secures $600M Investment from Oberland Capital

On April 28, 2025, Biohaven Ltd. announced a Note Purchase Agreement with Oberland Capital for an investment of up to $600 million, with an initial tranche of $250 million to be funded shortly after the closing date. This agreement aims to support Biohaven’s clinical trials and commercialization efforts, particularly for troriluzole, a potential treatment for spinocerebellar ataxia, pending FDA approval. The deal reflects Oberland Capital’s confidence in Biohaven’s innovative therapeutic portfolio and its potential to address unmet needs in rare diseases.

Spark’s Take on BHVN Stock

According to Spark, TipRanks’ AI Analyst, BHVN is a Underperform.

Biohaven Ltd. is in a challenging financial position with no revenue and negative cash flow, resulting in a low financial performance score. Technical indicators suggest bearish momentum, and the valuation reflects the absence of profitability. These factors contribute to a low overall stock score, highlighting significant risks in investing.

To see Spark’s full report on BHVN stock, click here.