Biohaven Ltd. reported results
SEC 8-KRead source ↗
Biohaven Ltd. is a US-listed company in the biotechnology industry. Its financial year ends in December.
Who’s trading
What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.
- Funds158 adding, 118 cuttingOf 50 active managers that changed their stake, 22 added; quarter to June 30, 2026Fund buyers and sellers
The Fundamentalytics view
Current signal Results well short of expectations: Reported earnings per share missed the analysts' consensus estimate by 562% in the quarter to 2026-09-30.
Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.
Highlights
How we pick theseStrengths
Nothing in Biohaven Ltd.'s latest figures clears our strength thresholds.
Things to watch
- Share dilution. Diluted shares rose 38.5% in a year.
- Volatile shares. Over the past year the shares showed annualised volatility of 93% and a beta of 1.0 against the S&P 500.
- Heavily shorted. 15.2% of the shares available to trade are sold short (7.2 days of average volume to cover).
- Missing expectations. Earnings per share fell short of the consensus estimate in 2 of the last four quarters.
Latest results
- Earnings per share
- -$0.73 against an average estimate of $0.16: missed by 562.3%
- Share reaction
- -0.6% in the first session after the results on October 29, 2026, against -2.1% for the S&P 500
- Next report
- October 29, 2026; average EPS estimate -$0.17
Price chart
- 1 day-1.7%
- 1 week+4.9%
- 1 month+17.8%
- This year+34.3%
- 1 year-11.9%
- S&P 500 this year+11.2%
Loading chart…
Third-party market data · may be delayed
At a glance
Profitability
- EPS (TTM, diluted)
- $-3.81
Growth
- Share count change
- +38.5%
Earnings
- Last results
- October 29, 2026
- Next results (est.)
- January 28, 2027
News & updates
Company announcements, filed results and changes that matter to shareholders.
- Results
- Announcement
Biohaven Ltd. made a public disclosure
SEC 8-KRead source ↗ - Agreement
Biohaven Ltd. entered a material agreement; made a public disclosure
SEC 8-KRead source ↗ - Announcement
Biohaven Ltd. disclosed a material event
SEC 8-KRead source ↗ - Agreement
Biohaven Ltd. entered a material agreement; made a public disclosure
SEC 8-KRead source ↗ - Results
Biohaven Ltd. reported results
SEC 8-KRead source ↗ - Leadership
Biohaven Ltd. announced a director or officer change
SEC 8-KRead source ↗ - Leadership
Biohaven Ltd. announced a director or officer change
SEC 8-KRead source ↗
No model value for Biohaven Ltd. at the moment. Current status: limited reported history: available models are shown without a Buy/Hold/Sell rating. Available reported financials are shown below.
The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.
Valuation models
We value Biohaven Ltd. as an operating company, with every model that fits that kind of business. Cost of equity 11.2%: the 10-year Treasury yield (4.9%) plus a beta of 1.39 times a 4.5% equity risk premium.
| Model | Value per share | In the combined value? |
|---|---|---|
| Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. | — | Does not apply: This model is withheld pending its input or assumption review. |
| Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. | — | Does not apply: This model is withheld pending its input or assumption review. |
| Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. | — | Does not apply: This model is withheld pending its input or assumption review. |
| Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. | — | Does not apply: This model is withheld pending its input or assumption review. |
| Forward price-to-sales vs peers Next year's consensus sales per share times peers' typical forward price-to-sales; only when earnings are negative. Uses analysts' consensus estimates (third-party data), not our forecasts. | ~$1.4 ~$1.5–$5.5 | Left out: out of range vs price (0.09x) |
| Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. | — | Does not apply: This model is withheld pending its input or assumption review. |
| Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. | — | Combined value withheld. Review the individual models and their assumptions. |
Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Biohaven Ltd. with Biotechnology in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.
Moat
Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.
Forecasts and guidance
Analysts' consensus
| Fiscal year | EPS | Growth | Revenue | Growth |
|---|---|---|---|---|
| Current | −$1.76 | +68% | $94m | 0% |
| Next | −$1.79 | −2% | $71m | −25% |
How the EPS forecast has moved
The consensus EPS forecast for the current fiscal year is −27.1% on 90 days ago. In the last 30 days, 1 analyst raised Biohaven Ltd.'s forecast and 2 cut it.
Average of analysts' published estimates (third-party data).
View chart data
| Period | Current fiscal year | Next fiscal year |
|---|---|---|
| 90 days ago | −$2.41 | −$1.94 |
| 60 days ago | −$2.64 | −$1.99 |
| 30 days ago | −$1.65 | −$1.87 |
| 7 days ago | −$1.30 | −$1.74 |
| Now | −$1.76 | −$1.79 |
Earnings against estimates
| Quarter to | Estimate | Actual | Surprise |
|---|---|---|---|
| Sept 2026 | $0.16 | −$0.73 | −562.3% |
| Jun 2026 | −$0.61 | −$0.78 | −27.6% |
| Mar 2026 | −$0.76 | −$0.69 | +9.7% |
| Dec 2025 | −$0.96 | −$0.90 | +5.8% |
Adjusted EPS as companies report it, against the average analyst estimate.
Positioning
- Short interest
- 15.2% of tradable shares
- Days to cover
- 7.2 at average volume
- Short interest, 1 month
- −12% to October 15, 2026
- Held by institutions
- 96% of shares
- Held by insiders
- 11.2% of shares
- Employees
- 274 full time
Share-price performance
Market data may be delayedReturn and risk by year
| Calendar year | 2023 | 2024 | 2025 | 2026 to date |
|---|---|---|---|---|
| Return | ||||
| BHVN | +208% | −13% | −70% | +34% |
| Industry peers (median) | −18% | −29% | −5% | −27% |
| S&P 500 | +26% | +25% | +18% | +11% |
| Months that ended higher | ||||
| BHVN | 58% | 50% | 42% | 55% |
| S&P 500 | 67% | 75% | 75% | 46% |
| Largest fall from a high during the year | ||||
| BHVN | −36% | −45% | −82% | −41% |
| S&P 500 | −10% | −8% | −19% | −9% |
Worst fall since September 23, 2022: 87% from March 13, 2024 to November 10, 2025. Getting back needed a 667% gain, and the shares have not yet recovered.
Price behaviour
- 52-week range
- $7.79 – $16.95
- From 52-week high
- −10.6%
- vs 50-day average
- +11.1%
- vs 200-day average
- +23.8%
- Volatility (1 year)
- 93%
- Beta vs S&P 500
- 1.00
Share price after results
- Next day
- 4 up, 8 down typical move ±6.4%
- After a week
- 4 up, 7 down typical move ±11.7%
- After a month
- 5 up, 6 down typical move ±17.2%
| Results released | Next day | S&P 500 next day | 5 days | 21 days |
|---|---|---|---|---|
| October 29, 2026 | −0.6% | −2.1% | — | — |
| August 10, 2026 | −1.2% | −0.3% | −1.4% | +2.3% |
| May 4, 2026 | +0.8% | +0.4% | −5.7% | +12.3% |
| March 2, 2026 | −7.4% | −0.8% | −11.4% | −26.6% |
| November 10, 2025 | +3.1% | +1.8% | +0.1% | +28.3% |
| August 11, 2025 | −8.6% | +0.9% | +8.6% | −5.0% |
| May 12, 2025 | −3.6% | +4.0% | −22.2% | −22.5% |
| March 3, 2025 | −15.6% | −2.9% | −25.7% | −39.2% |
| November 12, 2024 | −6.5% | −0.3% | −11.7% | −23.4% |
| August 8, 2024 | +12.6% | +2.8% | +13.6% | +5.2% |
| May 9, 2024 | −12.5% | +0.7% | −5.7% | −14.0% |
| February 29, 2024 | +4.7% | +1.3% | +22.7% | +10.1% |
Fundamentals
Dividends, buybacks and capital spending
- Diluted share count
- +38.5%
- year over year
Who owns it
Funds buying and selling- Reported value
- $2.1B
- Institutions reporting
- 294
- Shares held vs prior quarter
- ▼ 1.8%
- Positions opened / closed
- 49 / 31
| Manager | Value | Shares | Share of 13F value | Shares QoQ |
|---|---|---|---|---|
| Blackrock, Inc. | $197M | 13.2M | 9.4% | ▲ 17.7% |
| Montanova Capital, LLC | $153M | 10.3M | 7.3% | 0.0% |
| Stifel Financial Corp | $148M | 9.9M | 7.0% | 0.0% |
| Jupiter Topco LLC | $128M | 8.6M | 6.1% | — |
| Woodline Partners LP | $114M | 7.7M | 5.4% | ▲ 2450.1% |
| State Street Corp | $103M | 6.9M | 4.9% | ▲ 5.0% |
| Infinitum Asset Management, LLC | $93M | 6.3M | 4.4% | 0.0% |
| D. E. Shaw & Co., Inc. | $62.4M | 4.2M | 3.0% | ▲ 47.2% |
| AQR Capital Management LLC | $61.8M | 4.2M | 2.9% | ▲ 110.1% |
| Geode Capital Management, LLC | $49.5M | 3.3M | 2.4% | ▲ 20.1% |
| FMR LLC | $44.1M | 3.0M | 2.1% | ▲ 25.7% |
| Royalty Pharma Sub-Manager, LLC | $43.7M | 2.9M | 2.1% | 0.0% |
From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Biohaven Ltd.'s complete shareholder register. Values are as reported by the filers .
Insider trading activity
Full insider history and chart Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $0 net buying
From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.
Earnings dates and SEC filings
Results announcements
Next expected around January 28, 2027 estimated from the company's past filing pattern, not announced
- October 29, 2026
- August 10, 2026
- May 4, 2026
- March 2, 2026
- November 10, 2025
- August 11, 2025
Recent SEC filings
- 8-K Current report
- 10-Q Quarterly report
- 8-K Current report
- 8-K Current report
- 8-K Current report
- 8-K Current report
- 8-K Current report
- 10-Q Quarterly report
Data status
| Data | Last updated | Source |
|---|---|---|
| Share price | Exchange closing prices | |
| News and updates | Company releases and SEC 8-K filings | |
| Analyst estimates | Aggregated analyst estimates | |
| Valuation and scores | Our models, from the filed figures |
Biohaven Ltd. in brief
- What does Biohaven Ltd. do?
- Biohaven Ltd. is a US-listed company in the biotechnology industry. Its financial year ends in December.
- What is Biohaven Ltd.'s stock ticker?
- Biohaven Ltd. trades under the ticker BHVN on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
- Who are Biohaven Ltd.'s largest institutional shareholders?
- By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Montanova Capital, LLC and Stifel Financial Corp. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
- When is Biohaven Ltd.'s next earnings date?
- Around January 28, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Biohaven Ltd. announces its own schedule.
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