Biohaven Ltd. (BHVN) AI Stock Analysis

• Market Cap: $2.01B
• Dividend Yield: N/A
• Average Volume (3M): 2.11M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.97
• Revenue Growth: N/A
• EPS Growth: -65.63%
• Country: US
• Employees: 256
• Sector: Healthcare
• Sector Strength: 38
• Industry: Biotechnology
• EPS (TTM): -2.17
• Shares Outstanding: 102,112,526
• 10 Day Avg. Volume: 1,800,345
• 30 Day Avg. Volume: 2,110,089
• PEG Ratio: 1.16
• Price to Book (P/B): 5.96
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -4.81
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: $62.00
• Price Target Upside: 291.91% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 11

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

Financial Stability

Biohaven announced an up to $600 million non-dilutive capital agreement with Oberland Capital, which extends runway and alleviates financing risk.

Regulatory Inspections

The company completed the mid-cycle review meeting with the FDA for troriluzole in SCA, and it indicated that the regulatory inspections of the company and key clinical research sites are completed with timelines reaffirmed.

Regulatory Progress

The NDA resubmission for troriluzole was accepted under priority review.

Negative Factors

Regulatory Delays

The FDA extended the review period for Biohaven's submission by 3 months, delaying potential approval.

Submission Issues

The PDUFA extension was triggered by a 'major amendment' status, which suggests potential issues with the submission process.

Trial Failures

BHV-7000 failed in a Phase 2 study in bipolar mania; BHV-7000 did not differentiate from placebo arm on the primary efficacy endpoint of improvement from baseline to Day 21 on the Young Mania Rating Scale.

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 shows stability in equity but limited growth in assets. Cash flow analysis reveals persistent negative free cash flow and reliance on financing activities. Overall, the financial health remains weak, with a need for 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
Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement		Total Revenue
0.00	0.00	0.00	462.51M	0.00
	Gross Profit
0.00	-3.37M	-1.39M	370.85M	-72.00K
	EBIT
-885.11M	-436.05M	-567.93M	-218.90M	-114.51M
	EBITDA
-885.11M	-429.14M	-462.80M	-217.51M	-114.43M
	Net Income Common Stockholders
-846.42M	-408.17M	-570.28M	-213.80M	-118.67M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
485.99M	381.82M	465.34M	76.06M	82.51M
	Total Assets
615.11M	513.21M	661.78M	142.06M	111.50M
	Total Debt
32.78M	30.88M	30.58M	626.72M	267.46M
	Net Debt
-66.35M	-217.53M	-174.30M	550.66M	184.95M
	Total Liabilities
191.67M	85.24M	123.01M	47.37M	34.72M
	Stockholders Equity
423.44M	427.98M	538.77M	34.69M	16.78M
Cash Flow		Free Cash Flow
-586.50M	-334.77M	-338.76M	-146.78M	-78.65M
	Operating Cash Flow
-582.45M	-331.73M	-297.69M	-145.84M	-75.96M
	Investing Cash Flow
-244.97M	129.83M	-304.79M	944.00K	-2.70M
	Financing Cash Flow
677.77M	211.91M	767.60M	138.45M	152.24M

Biohaven Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 15.82
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BHVN, the sentiment is Negative. The current price of 15.82 is below the 20-day moving average (MA) of 20.73, below the 50-day MA of 23.23, and below the 200-day MA of 37.49, indicating a bearish trend. The MACD of -1.26 indicates Positive momentum. The RSI at 32.02 is Neutral, neither overbought nor oversold. The STOCH value of 15.48 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for BHVN.

Biohaven Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
KNSA	72 Outperform	$1.83B	―	-3.81%	―	59.45%	-290.38%
LGND	66 Neutral	$2.03B	48.01	-16.56%	―	53.40%	-230.86%
TARS	54 Neutral	$1.80B	―	-33.98%	―	449.03%	42.86%
NAMS	54 Neutral	$2.11B	―	-31.51%	―	―	―
Sector *	52 Neutral	$5.04B	3.15	-44.58%	2.85%	16.08%	-0.27%
ARQT	44 Neutral	$1.65B	―	-70.58%	―	100.03%	64.22%
BHVN	40 Underperform	$2.01B	―	-316.82%	―	―	-65.63%

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.