Biohaven Ltd. (BHVN)
NYSE:BHVN
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Biohaven Ltd.
(NYSE:BHVN)
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Rating:44Neutral
Price Target:
$9.50
▼(-13.48% Downside)
Action:ReiteratedDate:05/09/26
The score is primarily held down by very weak financial performance (no revenue, large recurring losses, and substantial cash burn) and elevated balance-sheet risk from higher leverage and reduced equity. Technical indicators are mostly neutral with the longer-term trend still pressured, while valuation signals are constrained by negative earnings and no dividend. A positive governance vote provides some stability but is not enough to offset the financial risks.
Positive Factors
Governance continuity
Strong shareholder support for the board, auditor and executive pay reduces near-term governance uncertainty and preserves strategic continuity. That stability aids execution of clinical programs, partner negotiations and financing plans over the coming quarters.
Negative Factors
Zero reported revenue
Lack of reported revenue means operations are not self-sustaining and the firm depends on external funding to cover fixed and development costs. This structural gap elevates financing dependence and constrains ability to scale commercial operations without new capital.
Read all positive and negative factors
Positive Factors
Negative Factors
Governance continuity
Strong shareholder support for the board, auditor and executive pay reduces near-term governance uncertainty and preserves strategic continuity. That stability aids execution of clinical programs, partner negotiations and financing plans over the coming quarters.
Read all positive factors
Biohaven Ltd. (BHVN) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.48B
Dividend YieldN/A
Average Volume (3M)2.32M
Price to Earnings (P/E)―
Beta (1Y)1.57
Revenue GrowthN/A
EPS Growth39.46%
CountryUS
Employees256
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-5.67
Shares Outstanding150,560,990
10 Day Avg. Volume1,742,120
30 Day Avg. Volume2,317,298
Financial Highlights & Ratios
PEG Ratio0.06
Price to Book (P/B)23.33
Price to Sales (P/S)0.00
P/FCF Ratio-1.99
Enterprise Value/Market Cap0.71
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit-508.97
Enterprise Value/Ebitda-1.61
Forecast
1Y Price Target
$21.11Price Target Upside92.27% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering11
EPS Forecast (FY)-2.96
Revenue Forecast (FY)N/A
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
null...
Biohaven Ltd. Financial Statement Overview
Summary
Income Statement
8
Very Negative
Balance Sheet
24
Negative
Cash Flow
10
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -2.06M | -4.14M | 0.00 | 0.00 | 0.00 | 0.00 |
| EBITDA | -652.53M | -727.46M | -877.26M | -429.14M | -566.55M | -217.51M |
| Net Income | -647.68M | -738.82M | -846.42M | -408.17M | -570.28M | -213.80M |
Balance Sheet | ||||||
| Total Assets | 466.41M | 451.45M | 615.11M | 513.21M | 661.78M | 142.06M |
| Cash, Cash Equivalents and Short-Term Investments | 347.82M | 319.14M | 485.99M | 381.82M | 465.34M | 76.06M |
| Total Debt | 280.27M | 278.86M | 36.58M | 30.88M | 33.60M | 3.24M |
| Total Liabilities | 336.91M | 399.38M | 191.67M | 85.24M | 123.01M | 47.37M |
| Stockholders Equity | 129.50M | 52.07M | 423.44M | 427.98M | 538.77M | 34.69M |
Cash Flow | ||||||
| Free Cash Flow | -594.49M | -610.15M | -586.50M | -334.77M | -338.76M | -146.78M |
| Operating Cash Flow | -594.23M | -609.44M | -582.45M | -331.73M | -297.69M | -145.84M |
| Investing Cash Flow | 150.89M | 300.56M | -244.97M | 129.83M | -304.79M | 944.00K |
| Financing Cash Flow | 617.76M | 439.12M | 677.77M | 211.91M | 767.60M | 138.45M |
Biohaven Ltd. Technical Analysis
Positive
10.98
Price Trends
10.25
Positive
10.67
Positive
12.48
Negative
Market Momentum
0.11
Negative
61.98
Neutral
78.49
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 10.98 is above the 20-day moving average (MA) of 9.31, above the 50-day MA of 10.25, and below the 200-day MA of 12.48, indicating a neutral trend. The MACD of 0.11 indicates Negative momentum. The RSI at 61.98 is Neutral, neither overbought nor oversold. The STOCH value of 78.49 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for BHVN.
Biohaven Ltd. Risk Analysis
Biohaven Ltd. disclosed 63 risk factors in its most recent earnings report. Biohaven Ltd. reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Biohaven Ltd. Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | $1.96B | 14.28 | 64.48% | ― | 20.62% | 696.05% | |
72 Outperform | $1.71B | -64.80 | 6.41% | ― | 22.45% | 602.15% | |
57 Neutral | $1.09B | -11.36 | 45.59% | ― | 21.23% | -174.19% | |
56 Neutral | $3.80B | -17.21 | -32.55% | ― | ― | -7.28% | |
54 Neutral | $2.19B | -0.80 | 123.57% | ― | 75.92% | -569.22% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
44 Neutral | $1.48B | -2.39 | -866.46% | ― | ― | 39.46% |
* Healthcare Sector Average
BHVN
Biohaven Ltd.
9.86
-10.70
-52.04%
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MNKD
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AUPH
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15.23
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EWTX
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35.32
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138.33%
Biohaven Ltd. Corporate Events
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
Biohaven Expands At-The-Market Equity Offering Program
Neutral
May 5, 2026
On May 4, 2026, Biohaven Ltd. amended its existing equity distribution agreement with J.P. Morgan Securities to expand an at-the-market share offering program, allowing the company to sell up to $350 million of common shares on the New York Stock ...
Executive/Board ChangesShareholder Meetings
Biohaven Shareholders Back Board, Auditor and Executive Pay
Positive
May 4, 2026
Biohaven Ltd. held its 2026 annual meeting of shareholders on April 28, 2026, where investors elected directors Michael T. Heffernan, Irina Antonijevic, M.D., Ph.D., and Robert J. Hugin to terms running through the 2029 annual meeting, reinforcing...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.