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BIOHAVEN LTD (BHVN)

Health Care · Biotechnology · NYSE

Biohaven is a biopharmaceutical firm developing a diverse pipeline of innovative therapies for complex diseases in neuroscience, immunology, obesity, and oncology.

What BIOHAVEN LTD does

Biohaven is a clinical-stage biopharmaceutical company focused on the discovery, development, and commercialization of therapeutics across immunology, obesity, neuroscience, and oncology. The company utilizes proprietary drug development platforms, including MoDE and TRAP technologies for extracellular protein degradation and Kv7 ion channel modulation.

Themes: neuroscience, immunology, obesity, oncology, protein degradation

Fundamentals

  • Price$11.81 as of 2026-10-20 close
  • Market cap$1.8B as of 2026-08-06 (share count; price 2026-10-20)
  • 1-year return-32.7% 2025-10-20 close $17.54 → 2026-10-20 close $11.81
  • P/En/a negative earnings
  • ROE-1418.8% FY2025, SEC XBRL
  • ROICn/a No figure: its pre-tax income was zero or negative, so there is no tax rate to apply.
  • Debt / equityn/a No figure: its filing reports debt under a line we do not read, so a total would be understated.
  • Beta1.53 as of 2026-09-03
  • Last reported earnings2026-08-10 SEC EDGAR Form 8-K (Item 2.02)

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How BHVN compares in its sector

  • return on equitybottom 10% 510 covered Health Care peers, as of 2026-09-03
  • free cash flow (absolute dollars, latest fiscal year)bottom 10% 494 covered Health Care peers, as of FY2025

Position among covered Health Care companies that report each metric (minimum 5 peers). A relative position within our covered catalog — not a valuation, quality, or investment judgment. A higher percentile is simply a higher value (for P/E, more expensive on earnings — never "better"). Informational only.

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Quarterly results

QuarterOperating incomeNet incomeDiluted EPSOperating cash flowCapex
Q2 FY2026 2026-06-30-$125M-$137M-$0.91-$85M†$454000†
Q1 FY2026 2026-03-31-$130M-$131M-$0.88-$150M$0
Q4 FY2025 2025-12-31-$143M†-$146M†-$1.12†-$131M†$8000†
Q3 FY2025 2025-09-30-$169M-$173M-$1.64-$146M†$13000†
Q2 FY2025 2025-06-30-$212M-$198M-$1.94-$168M†$233000†
Q1 FY2025 2025-03-31-$222M-$222M-$2.17-$165M$461000
Q4 FY2024 2024-12-31-$190M†-$187M†-$1.78†-$171M†$49000†
Q3 FY2024 2024-09-30-$178M-$160M-$1.70-$141M†$611000†

† Not filed as a discrete quarter: derived from the company's own year-to-date figures (for example the fourth quarter as the fiscal year minus the first nine months). A derived per-share figure is approximate, because the share count moves within the year.

Balance sheet at 2026-06-30

  • Cash and equivalents$238M
  • Short-term investments$30M
  • Total debtnot shown the filing reports its long-term debt in a form we do not read yet

From the company's own SEC 10-Q and 10-K filings (XBRL), re-read every week. Figures in US dollars as filed; informational only — not financial advice.

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How BIOHAVEN LTD looks technically

BIOHAVEN LTD (BHVN) is trading 2.2% below its 200-day average, the long-term trend line — a long-term downtrend. Its 50-day average crossed above its 200-day average about 73 trading days ago — a "golden cross", a bullish long-term signal. A strong downtrend is in place — ADX, a 0–100 trend-strength gauge, is 26, with sellers in control. Momentum is neutral — its 14-day RSI (a 0–100 momentum gauge) is 44, neither overbought (above 70) nor oversold (below 30). It made a new 20-day low about 3 trading days ago. It is 36.4% below its highest point of the past year.

Trend

8
Distance from the 200-dayit is trading 2.2% below its 200-day average, the long-term trend line — a long-term downtrend-2.2%
50-day moving averageits average price over the last 50 trading days — a short-term trend line — is $13.55$13.55
200-day moving averageits average price over the last 200 trading days — the long-term trend line — is $12.08$12.08
Swing structureeach recent peak has been lower than the one before it and each dip deeper — the pattern chart-watchers call a downtrend, which describes where price has already been and not where it goes nextlower highs and lower lows
Last swing turnits last significant turn was a swing high 28 calendar days ago — the swings before that are what the structure reading is measured on28 sessions
Wave structureits recent swings can be read as a five-part downward sequence — what Elliott-wave chartists call an impulse — now in leg 3 of five; the labelling fails if price closes above 14.97. It is one of several labellings that fit, and it describes the swings already printed, not what comes next. The same swings also read as a three-part correction in leg C.possible downward five-wave sequence, in wave 3 (one of several readings)
Since the 50/200 crossits 50-day average crossed above its 200-day average about 73 trading days ago — a "golden cross", a bullish long-term signal73 sessions
Trend strength (14-day ADX)a strong downtrend is in place — ADX, a 0–100 trend-strength gauge, is 26, with sellers in control26.2

Momentum

3
14-day RSImomentum is neutral — its 14-day RSI (a 0–100 momentum gauge) is 44, neither overbought (above 70) nor oversold (below 30)44.1
Position in its 14-day rangeit is trading in the lower half of its 14-day range ($10.70 to $13.62) — its "stochastic" reading is 38 out of 100, where 0 would mean closing exactly at the 14-session low and 100 exactly at the high. This measures WHERE the price sits inside its recent range, which is a different question from the RSI beside it: RSI is a momentum gauge, measuring how FAST the price has been moving, so a stock can drift quietly to the bottom of its range with an ordinary RSI, or fall sharply and still sit in the middle. It has been climbing within that range over the last few sessions.38.0
Since the MACD crossed zeroMACD, a trend-momentum gauge, is in negative territory (momentum leaning bearish)19 sessions

Range

12
52-week highits highest closing price over the past year (about 252 trading days) was $18.57$18.57
From the 52-week highit is 36.4% below its 52-week high (its highest price of the past year)-36.4%
Above the 52-week lowit is 57.9% above its 52-week low (its lowest price of the past year)+57.9%
Below the 52-week highit is 36.4% below its highest point of the past year36.4%
Since a 20-day breakoutit made a new 20-day low about 3 trading days ago3 sessions
Since a 55-day breakoutit made a new 55-day low about 3 trading days ago3 sessions
All-time highits highest closing price on record is $62.21 (set on 2024-03-08)$62.21
Given back of the 52-week moveover the past year its closes ranged ($7.79 to $18.11), and it has recovered roughly a third of its fall from last year’s high — 39% of it. Chart-watchers call 61.8%-65% given back the "golden pocket" — for this company that is $14.17 to $14.50. It is watched widely enough that orders cluster there, which is the honest reason it matters; it is not a forecast. Worth noting that the whole move happened in 12 days, so it is a narrow thing to be measuring a retracement against.39.0%
From the all-time highit is 81.0% below its all-time high-81.0%
Nearest price levelit is trading 1.4% below a resistance level at $11.98 — a price it turned at five times since 2025-12-15, most recently on 2026-09-16. Since 2024-10-21 it has 4 such levels below the current price and 11 above. Levels like these describe where the price has reversed or paused before; they are not a forecast of where it will go.+1.4%
All-time lowits lowest closing price on record is $5.42 (set on 2022-10-03)$5.42
Above the all-time lowit is 118.1% above its all-time low+118.1%

Volatility

5
Band width vs its own 6 monthsday-to-day price swings are about average versus its own recent 6-month history56th percentile
Typical daily rangein a typical session it travels about $0.7958 between its high and its low — about 6.7% of its price. That is its "average true range" over the last 14 sessions, which also counts the distance from the previous close, so a day that opens well away from yesterday counts as the large move it was$0.7958
Bollinger bands (20-day, ±2σ)most of its recent trading has stayed between about $10.57 and $14.05 — the "Bollinger bands", a range drawn two standard deviations either side of its 20-day average price, which widens when the stock gets more volatile and narrows when it settles$10.57 – $12.31 – $14.05
Typical daily range (% of price)its price moves about 6.7% in a typical session — more volatile than most companies we cover. This is the average gap between a session's high and low over the last 14 sessions, counting overnight moves, expressed against the current price so it can be compared with companies trading at any price6.7%
Stretch from the 200-day averageit is trading 0.3 daily ranges below its 200-day average price (2.2% below it in plain percentage terms) — a way of asking how far it has stretched from its own average in units of how far it normally moves in a day, so a calm company and a jumpy one can be compared on the same scale0.3 daily ranges below its 200-day average

Volume

1
Volume vs its 30-day averagetrading volume is about normal versus its 30-day average0.56×

Analyst

2
Change in the average price targetanalysts' average price target is unchanged from the prior reading0.0%
Change in the consensus ratingthe analyst consensus rating is unchanged since the prior readingunchanged

Candlestick patterns

1
Since a doji9 sessions ago it opened and closed at almost the same price after trading through a wider range — a "doji", the classic picture of buyers and sellers finishing the session level9 sessions ago

Price gaps

3
Gap at the openit opened on 2026-10-20 at essentially the same price it closed at the session before — no meaningful overnight gap0.0%
Open gapit gapped 2.1% above the previous close 1 session ago and has not traded back through the level it left behind at 10.78 — an "unfilled gap", which describes a price range no trade has since crossed and is not a forecast that it will be crossed+2.1%
Gap filleda 2.1% gap up opened on 2026-10-02 has been "filled" 12 sessions ago — price traded back through the level the gap left behind, and it closed again during the very session that opened it12 sessions ago

Price streaks

1
Closing streakit has closed higher 2 sessions in a row, a +9.55% move over the run — an unbroken run of up days, which describes what has already happened and says nothing about the next session2 sessions up

Relative strength

4
vs market, 1 monthover the past 1 month this stock lagged the market by 14.3 percentage points (the stock lost 13.3% while the market gained 1.0%)-14.3%
vs market, 3 monthsover the past 3 months this stock lagged the market by 24.2 percentage points (the stock lost 20.5% while the market gained 3.6%)-24.2%
vs market, 6 monthsover the past 6 months this stock beat the market by 0.6 percentage points (the stock gained 9.1% while the market gained 8.5%)+0.6%
vs market, 12 monthsover the past 12 months this stock lagged the market by 47.2 percentage points (the stock lost 32.7% while the market gained 14.6%)-47.2%

Signal agreement

2
Bullish technical signals2 of the 9 technical signals we can compute for it are currently in a bullish state: a "golden cross" — its 50-day average is above its 200-day, outperforming the market over 6 months — these describe past price behaviour, not a forecast2 of 9
Bearish technical signals5 of the 9 technical signals we can compute for it are currently in a bearish state: trading below its 200-day average, a fresh 20-day low, MACD momentum is negative, a strong downtrend, with sellers in control, trading below the Ichimoku cloud — these describe past price behaviour, not a forecast5 of 9

Trend (Ichimoku cloud)

1
Vs the Ichimoku cloudtrading 21% below the Ichimoku cloud — a band drawn from where its own highs and lows sat up to 2026-09-14 and projected forward over today's price, the side traders read as an established downtrend, with the band above acting as the level that would have to be cleared. The band itself is moderate, spanning 3.3% of the share price.-21.0%

Volume-weighted price

2
Vs this year’s average price paidthe price is 5% below the average price paid so far this year, so the typical buyer over that stretch is under water. That average is $12.39 — a volume-weighted average of daily closes over 201 sessions, not a true tick-by-tick VWAP.-4.7%
Vs the average paid since it last reportedthe price is 16% below the average price paid since it last reported on 2026-08-10 (its 10-Q), so the typical buyer over that stretch is under water. That average is $13.99 — a volume-weighted average of daily closes over 51 sessions, not a true tick-by-tick VWAP.-15.6%

Price levels it has turned at before

BHVN last closed at $11.81 on 2026-10-20. Since 2024-10-21 it has turned at 4 prices below its last close and 11 above; the 3 nearest below and the 3 nearest above are listed, nearest first.

LevelSideDistanceEvidence
$11.98Resistance1.4% above the last closeturned there five times · 2025-12-15 to 2026-09-16
$10.83Support8.3% below the last closeturned there twice · 2026-02-19 to 2026-05-05
$12.95Resistance9.6% above the last closeturned there five times · 2025-07-16 to 2026-08-26
$10.22Support13.5% below the last closeturned there twice · 2025-11-20 to 2026-04-02
$13.40Resistance13.5% above the last closeturned there twice · 2025-09-16 to 2025-09-25
$9.29Support21.4% below the last closeturned there twice · 2026-01-06 to 2026-03-09

A level is a price this company reversed or paused at more than once — they describe past behaviour, not a forecast of where the price will go.

Wave structure

Its recent swings can be read as a five-part downward sequence — what Elliott-wave chartists call an impulse — now in leg 3 of five.

This labelling fails — stops being a possible reading at all — if it closes above $14.97.

This is one of several labellings that fit the same swings, so treat it as a reading rather than the reading. It was chosen from 2 labellings that survived the rules, counting shorter readings of the same bars.

On past moves of this shape the leg has usually ended somewhere between $4.76 and $8.66 — that is where it has tended to end if the count holds, not a forecast of where the price goes.

Alternate reading: The same swings also read as a three-part correction in leg C, which fails on a close above $14.97.

This reading has stood for 16 trading days, since 2026-09-29.

Read from daily closes as of 2026-10-20.

An Elliott-wave count describes the swings already printed and the level that would disprove it. It is not a forecast, a target, or advice.

Based on daily closing prices as of 2026-10-20. Describes past price behavior only — informational, not financial advice.

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Analyst consensus

  • Consensus ratingBuy (1.82 mean, 1=Strong Buy…5=Strong Sell) — 15 analysts
  • Mean price target$21.27 range $10.00 – $42.00; median $20.00

Analyst estimates, as of 2026-10-20. These are third-party analyst opinions and price targets, aggregated — not a recommendation, prediction, or advice from stocks-llm. Informational only.

Analyst EPS estimate for BHVN

  • Consensus EPS estimate$0.1646 next reporting period, as of 2026-10-20
  • Estimate change, 30 days$0.00 (0.0%) from $0.1646, on 2026-09-15, 35-day window
  • Readings revised upward22% of 9 comparable readings

The consensus estimate for the next reporting period, and how it has moved between readings of that SAME period. A change is measured only between readings estimating one period — when a company reports, the consensus moves to the next quarter and the two numbers are not comparable. Informational only, not a forecast and not advice.

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Key risks (from latest filing)

["Significant ongoing operating losses and a history of net losses with no guarantee of achieving or sustaining profitability.","Substantial reliance on the success of clinical-stage development programs which are subject to high failure rates.","Need for substantial additional capital to fund future operations and clinical trials."]

See BHVN's biggest risks from its latest 10-Q →

What changed in the latest 10-Q

AI-assisted comparison of BHVN's 10-Q filed 2026-08-10 against the prior one filed 2026-05-04.

Management's Discussion & Analysis (MD&A)

  • Added:
    • Newer filing (filed 2026-08-10) states 'The pivotal trial is currently underway' for BHV-1300 in Graves' disease.
    • Newer filing (filed 2026-08-10) states 'plans to initiate the pivotal study in IgAN patients in the second half of 2026' for BHV-1400.
    • Newer filing (filed 2026-08-10) specifies BHV-1400 has been dosed in 'a clinically concluded Phase 1 study' (capital 'P' in Phase).
  • Removed:
    • Older filing (filed 2026-05-04) stated 'We plan to initiate a pivotal trial by mid-year 2026' for BHV-1300 in Graves' disease.
    • Older filing (filed 2026-05-04) stated 'plans to initiate the pivotal study in IgAN patients by mid-year 2026' for BHV-1400.
    • Older filing (filed 2026-05-04) referred to BHV-1400 being dosed in 'a clinically concluded phase 1 study' (lowercase 'p' in phase).
  • Reworded:
    • BHV-1300 Graves' disease data description changed from 'Data in the first Graves' patient dosed with BHV-1300 demonstrated complete suppression of autoantibodies targeting the TSH receptor and normalization of T3 and T4 within one month of dosing' (older filing, filed 2026-05-04) to 'Data in patients with Graves' disease dosed with BHV-1300 demonstrated more than an 80% reduction of disease-driving Thyroid-Stimulating Hormone Receptor ("TSHR") autoantibodies and rapid normalization of free T3 and free T4 within weeks' (newer filing, filed 2026-08-10).
    • BHV-1400 IgAN description changed from 'the pathogenic driver of IgAN' (older filing, filed 2026-05-04) to 'the pathogenic driver of IgA nephropathy ("IgAN")' (newer filing, filed 2026-08-10).
    • BHV-1400 Gd-IgA1 description changed from 'galactose deficient IgA1 (Gd-IgA1)' (older filing, filed 2026-05-04) to 'galactose deficient IgA1 ("Gd-IgA1")' (newer filing, filed 2026-08-10).
    • BHV-1400 eGFR description changed from 'eGFR within the first month of dosing' (older filing, filed 2026-05-04) to 'eGFR (as defined below) within the first month of dosing' (newer filing, filed 2026-08-10).
    • Forward-looking statements description changed from 'forward looking statements' (older filing, filed 2026-05-04) to 'forward-looking statements' (newer filing, filed 2026-08-10) in the introductory paragraph.
    • Securities Act description changed from 'Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of Exchange Act' (older filing, filed 2026-05-04) to 'Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act' (newer filing, filed 2026-08-10).
    • RA description changed from 'common immune mediated-diseases' (older filing, filed 2026-05-04) to 'common immune-mediated diseases' (newer filing, filed 2026-08-10).
    • Table of contents page number following the Separation section changed from '26' (older filing, filed 2026-05-04) to '32' (newer filing, filed 2026-08-10).
    • Table of contents page number following the BHV-1300 RA description changed from '27' (older filing, filed 2026-05-04) to '33' (newer filing, filed 2026-08-10).
  • Notes:
    • The newer filing text appears to end mid-sentence at 'The range of IgG lowering enabled by different dose levels of BHV-13' and the older filing text ends at the same point, so subsequent content could not be compared.
    • This comparison is based only on the MD&A section excerpts provided and does not include other sections of the filings or attachments.

Risk Factors

  • Added:
    • Newer filing, filed 2026-08-10, added exhibit 10.1: 'Employment Agreement dated April 1, 2019, by and between Biohaven Pharmaceuticals, Inc. and Warren Volles' to Item 6 Exhibits.
    • Newer filing, filed 2026-08-10, added a notation after the exhibit footnote indicating exhibit 10.1 'Indicates management contract or compensatory plan.'
  • Removed:
    • Older filing, filed 2026-05-04, contained a 'Maskbegone Agreement' disclosure under Item 2 describing a January 2026 agreement with Maskbegone for exclusive rights related to oxytocin in tinnitus treatment, including issuance of 76,383 common shares valued at approximately $0.9 million; this disclosure is absent from the newer filing.
    • Older filing, filed 2026-05-04, included an additional paragraph under Item 2 stating reliance on Section 4(a)(2) exemption for the unregistered issuance of common shares under the Maskbegone Agreement; this paragraph is absent from the newer filing.
  • Reworded:
    • Newer filing's Item 2, filed 2026-08-10, states 'None.' whereas the older filing, filed 2026-05-04, instead contained the Maskbegone Agreement disclosure.
    • Newer filing, filed 2026-08-10, references 'the quarter ended June 30, 2026' in the Rule 10b5-1 Trading Plans section, while the older filing, filed 2026-05-04, referenced 'the quarter ended March 31, 2026'.
    • Newer filing's Item 101 exhibit description, filed 2026-08-10, refers to 'the fiscal quarter ended June 30, 2026', while the older filing, filed 2026-05-04, referred to 'the fiscal quarter ended March 31, 2026'.
    • Newer filing's signature date, filed 2026-08-10, is 'August 10, 2026', while the older filing, filed 2026-05-04, was 'May 4, 2026'.
  • Notes:
    • The section headers supplied identify the text as 'Risk Factors' but the excerpts provided under that label actually contain the trailing portions of the Form 10-Q including Items 2, 5, 6, and signatures, and do not include explicit risk factor text.

AI-assisted comparison of two SEC filing sections. It describes wording and theme changes only, makes no materiality, legal, or investment judgement, and is not financial advice. Informational only — not financial advice.

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Insider activity (SEC Form 4)

No open-market insider purchases or sales recorded in the last 90 days, of which we have read Form 4 filings through 2026-10-16. The 5 days since 2026-10-16 have not been checked yet.

Most recent open-market transaction: 2025-03-04. Based on Form 4 filings read through 2026-10-16; anything filed since is not yet included.

View full insider trading history → View SEC Form 3/4/5 filings

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Only open-market purchases (SEC code P) and sales (code S) are counted here. Option exercises, vesting/awards, gifts, and shares withheld for taxes are excluded — they are compensation or mechanical, not open-market conviction. Sales may be planned and non-discretionary (e.g. a Rule 10b5-1 plan) and are not necessarily bearish; open-market buying is not a recommendation to buy. Informational only — not financial advice.

Short interest (FINRA)

BHVN had 19,053,695 shares of reported short interest as of the 2026-09-30 FINRA settlement date (delayed, bi-monthly; not real-time).

BHVN had 12.6% of its shares outstanding sold short as of the 2026-09-30 FINRA settlement date (percent of FLOAT would be higher — float is not disclosed in the source). FINRA reported 6.43 days to cover at the same settlement.

  • Reported short interest (shares) 19,053,695
  • Short interest (% of shares outstanding) 12.6%
  • Prior settlement (shares) 20,449,005
  • Reported change -6.82%
  • Days to cover (reported) 6.43

Reported to FINRA as of the 2026-09-30 settlement date. Short interest is reported to FINRA and published on a delayed, bi-monthly schedule (as of a settlement date, disseminated roughly eight business days later) — it is NOT real-time, does not cover every venue or all US trading, and is not a short-squeeze prediction or investment advice. Days-to-cover is the value FINRA reports; percent of float is not shown because the source file carries no share-count denominator — where a percent appears it is of shares OUTSTANDING, the larger base, and is therefore a floor on percent of float. Informational only — not financial advice.

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Competitors & peers

AI-enriched competitor set. Linked names are companies covered by stocks-llm; other named peers are shown for reference only.

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Frequently asked questions

What does BIOHAVEN LTD (BHVN) do?

Biohaven is a clinical-stage biopharmaceutical company focused on the discovery, development, and commercialization of therapeutics across immunology, obesity, neuroscience, and oncology. The company utilizes proprietary drug development platforms, including MoDE and TRAP technologies for extracellular protein degradation and Kv7 ion channel modulation.

What sector is BIOHAVEN LTD (BHVN) in?

BIOHAVEN LTD (BHVN) is classified in the Health Care sector. Its industry is Biotechnology. It trades on NYSE.

Who are BIOHAVEN LTD's (BHVN) competitors?

Notable peers of BIOHAVEN LTD (BHVN) include Amgen, Biogen, Eli Lilly, Regeneron Pharmaceuticals and Vertex Pharmaceuticals. This peer set is informational only — not financial advice.

Is BIOHAVEN LTD (BHVN) overbought or oversold right now?

BIOHAVEN LTD (BHVN) is currently neither overbought nor oversold — its 14-day RSI (a 0–100 momentum gauge) is 44, in the neutral middle (as of 2026-10-20). RSI describes recent price momentum, not a forecast — informational only, not financial advice.

Where does stocks-llm's data on BHVN come from?

Fundamentals come from SEC XBRL company filings for the figures marked with a fiscal year, and market data, as of 2026-09-03 for the rest; prices are market data, as of 2026-09-03; company filings and profile facts come from SEC EDGAR. All figures are delayed daily-close data shown with their as-of date — informational only, not financial advice.

Fundamentals: SEC XBRL company filings for the figures marked with a fiscal year, and market data, as of 2026-09-03 for the rest. Filings: SEC EDGAR. Prices are delayed daily-close data.

Last updated 2026-10-20.

Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & market data, shown with their as-of date.