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Biohaven Ltd.
(NYSE:BHVN)
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Rating:61Neutral
Price Target:
$18.00
▲(25.17% Upside)
Action:Reiterated
Date:08/27/26
The score is primarily held back by weak financial performance—no revenue, large losses, heavy cash burn, and a significantly weakened balance sheet with high leverage. Offsetting this, technicals are constructive with the stock trading above major moving averages and positive MACD, and corporate events are supportive due to the sizable non-dilutive licensing cash infusion and related pipeline progress.
Positive Factors
Non-dilutive licensing funding
The SK agreement provides substantial non-dilutive cash, future milestones and royalties while transferring major Kv7 development costs. This can extend Biohaven’s runway, reduce financing pressure and support investment in its broader pipeline.
Negative Factors
No commercial revenue
Biohaven remains dependent on development progress, licensing proceeds and external funding because it has not reported revenue across the provided periods. This limits operating self-sufficiency and makes future financial performance highly dependent on pipeline outcomes.
Read all positive and negative factors
Positive Factors
Negative Factors
Non-dilutive licensing funding
The SK agreement provides substantial non-dilutive cash, future milestones and royalties while transferring major Kv7 development costs. This can extend Biohaven’s runway, reduce financing pressure and support investment in its broader pipeline.
Read all positive factors
Biohaven Ltd. (BHVN) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.31B
Dividend YieldN/A
Average Volume (3M)2.59M
Price to Earnings (P/E)―
Beta (1Y)1.62
Revenue GrowthN/A
EPS Growth39.33%
CountryUS
Employees274
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-4.64
Shares Outstanding151,043,780
10 Day Avg. Volume4,183,894
30 Day Avg. Volume2,591,506
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 Cap<0.01
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit>-0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price Target
$21.56Price Target Upside49.90% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering11
EPS Forecast (FY)-2.87
Revenue Forecast (FY)$29.17M
Biohaven Ltd. Business Overview & Revenue Model
Company Description
Biohaven Ltd., a biopharmaceutical company, focuses on the discovery, development, and commercialization of treatments for immunology, neuroscience, and oncology therapeutic areas worldwide. It develops BHV-1300, which is in Phase 2 clinical trial...
How the Company Makes Money
Biohaven’s revenue model (where disclosed) has historically been driven primarily by collaboration and licensing economics rather than broad, internally built commercial product sales. Key ways the company has made money include: (1) Upfront payme...
Biohaven Ltd. Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
12
Very Negative
Cash Flow
16
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 | -574.94M | -727.46M | -837.83M | -402.64M | -568.46M | -211.04M |
| Net Income | -586.84M | -738.82M | -846.42M | -408.17M | -570.28M | -213.80M |
Balance Sheet | ||||||
| Total Assets | 370.74M | 451.45M | 615.11M | 513.21M | 661.78M | 142.06M |
| Cash, Cash Equivalents and Short-Term Investments | 267.87M | 319.14M | 485.99M | 381.82M | 465.34M | 76.06M |
| Total Debt | 297.04M | 284.61M | 36.58M | 30.88M | 33.60M | 2.80M |
| Total Liabilities | 358.52M | 399.38M | 191.67M | 85.24M | 123.01M | 47.37M |
| Stockholders Equity | 12.22M | 52.07M | 423.44M | 427.98M | 538.77M | 34.69M |
Cash Flow | ||||||
| Free Cash Flow | -511.87M | -610.15M | -586.50M | -334.77M | -338.76M | -146.78M |
| Operating Cash Flow | -511.39M | -609.44M | -582.45M | -331.73M | -297.69M | -145.84M |
| Investing Cash Flow | 211.26M | 300.56M | -244.97M | 129.83M | -304.79M | 944.00K |
| Financing Cash Flow | 371.73M | 439.12M | 677.77M | 211.91M | 767.60M | 138.45M |
Biohaven Ltd. Technical Analysis
Positive
14.38
Price Trends
14.81
Positive
12.61
Positive
11.60
Positive
Market Momentum
0.35
Negative
57.24
Neutral
47.20
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 14.38 is below the 20-day moving average (MA) of 14.63, below the 50-day MA of 14.81, and above the 200-day MA of 11.60, indicating a bullish trend. The MACD of 0.35 indicates Negative momentum. The RSI at 57.24 is Neutral, neither overbought nor oversold. The STOCH value of 47.20 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 64 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 |
|---|---|---|---|---|---|---|---|
77 Outperform | $2.14B | 6.80 | 59.00% | ― | 19.76% | 444.46% | |
66 Neutral | $4.54B | -22.84 | -39.01% | ― | ― | -18.88% | |
61 Neutral | $2.31B | -3.39 | -1328.94% | ― | ― | 39.33% | |
58 Neutral | $2.04B | 84.38 | 6.91% | ― | 22.95% | 228.76% | |
57 Neutral | $2.48B | -6.90 | 101.55% | ― | 68.72% | -737.08% | |
54 Neutral | $1.29B | -28.53 | 78.60% | ― | 30.46% | -223.84% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
BHVN
Biohaven Ltd.
15.69
-0.52
-3.21%
VCEL
Vericel
40.89
7.34
21.88%
BCRX
BioCryst
10.17
1.88
22.68%
MNKD
MannKind
4.04
-1.47
-26.68%
AUPH
Aurinia Pharmaceuticals
16.29
4.29
35.75%
EWTX
Edgewise Therapeutics
41.98
27.34
186.75%
Biohaven Ltd. Corporate Events
Business Operations and StrategyPrivate Placements and Financing
Biohaven Licenses Kv7 Epilepsy Platform to SK Biopharmaceuticals
Positive
Aug 26, 2026
On August 26, 2026, Biohaven Bioscience Ireland Limited, a subsidiary of Biohaven Ltd., entered into a strategic global licensing and collaboration agreement with SK Biopharmaceuticals for Biohaven’s Kv7 ion channel platform, led by the epil...
Executive/Board Changes
Biohaven Appoints John Yetimoglu to Board of Directors
Positive
Aug 7, 2026
On August 3, 2026, Biohaven Ltd.’s board appointed John Yetimoglu as a director, effective August 6, 2026, placing him in the director class whose term runs until the 2027 annual shareholder meeting and naming him to the Nominating and Gover...
Business Operations and StrategyExecutive/Board Changes
Biohaven Revamps Scientific Leadership to Drive Discovery
Positive
Jul 9, 2026
On July 9, 2026, Biohaven announced a series of scientific leadership changes effective July 13, 2026, aimed at bolstering its drug discovery and collaboration capabilities. Chief Scientific Officer Bruce Car is retiring from that post and moving ...
Business Operations and StrategyProduct-Related Announcements
Biohaven Showcases Promising Opakalim Epilepsy Data at R&D Day
Positive
May 27, 2026
On May 26, 2026, Biohaven reported new clinical data showing its epilepsy drug candidate opakalim, a once-daily selective Kv7.2/7.3 activator, substantially prolonged time to second generalized tonic-clonic seizure in a proof-of-concept idiopathic...
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.