Biohaven Pharmaceutical Holding Company Ltd. (BHVN) Up 2.8% Since Last Earnings Report: Can It Continue?

0

IIt has been about a month since the last earnings report from Biohaven Pharmaceutical Holding Company Ltd. (BHVN). Stocks rose about 2.8% during this period, underperforming the S&P 500.

Will the recent positive trend continue until its next earnings release, or will Biohaven Pharmaceutical Holding Company Ltd. should suffer a setback? Before we dive into the recent reaction from investors and analysts, let’s take a look at its latest earnings report to better understand the important catalysts.

Biohaven Q1 loss bigger than expected, sales beat

Biohaven suffered a loss of $2.97 per share for the first quarter of 2022, higher than Zacks consensus estimate of a $2.52 loss but narrower than the $4.21 loss there. one year old.

Adjusted loss (excluding non-cash stock-based compensation and a few other non-cash expenses) for the first quarter was $1.62 per share, compared to $3.25 in the same period a year earlier.

Total revenue was $319 million in the first quarter, which beat Zacks’ consensus estimate of $187.1 million. Revenue increased over 600% year over year.

Quarter in detail

Total revenue included product sales and collaboration revenue. During the quarter, Biohaven generated $123.6 million from sales of Nurtec ODT products, up 182% year-over-year. BHVN recorded $195.3 million in collaboration revenue, coming from Pfizer under a strategic agreement signed last November. BHVN had no collaboration revenue in the prior year period.

Research and development (R&D) expenses, including stock-based compensation, were $119.1 million in the quarter, up 11.2% year-over-year , driven by rising employee-related costs.

Selling, general and administrative (SG&A) expenses were $227.2 million in the quarter, up 79.3% from the same period a year ago. The significant increase in SG&A expenses is due to higher costs to support the commercialization of Nurtec.

As of March 31, 2022, Biohaven had cash and restricted cash of $602.5 million, compared to $367 million as of December 31, 2021.

Orientation 2022

Biohaven expects Nurtec ODT product revenues to be between $825 million and $900 million for 2022.

How have the estimates changed since then?

Over the past month, investors have witnessed a downward trend in reviewing estimates.

The consensus estimate changed by -15.31% due to these changes.

VGM Scores

Currently, Biohaven Pharmaceutical Holding Company Ltd. has a good growth score of B, although it lags far behind on the Momentum score front with an F. Tracing a somewhat similar path, the stock has been assigned a rating of D on the value side , placing it in the bottom 40% for this investment strategy.

Overall, the title has an overall VGM score of D. If you’re not focused on a strategy, this score is the one you should be interested in.

Outlook

Estimates have trended lower overall for the stock, and the magnitude of these revisions indicate downward movement. Notably, Biohaven Pharmaceutical Holding Company Ltd. has a Zacks rank of #3 (Hold). We expect the title to return online in the coming months.

Performance of an industry player

Biohaven Pharmaceutical Holding Company Ltd. belongs to the Zacks Medical – Biomedical and Genetics industry. Another stock in the same sector, Qiagen (QGEN), gained 6.1% over the past month. More than a month has passed since the company released its results for the quarter ended March 2022.

Qiagen reported revenue of $628.39 million in the last reported quarter, representing a year-over-year change of +10.8%. EPS of $0.80 for the same period versus $0.66 a year ago.

For the current quarter, Qiagen is expected to post earnings of $0.45 per share, indicating a change of -32.8% from the year-ago quarter. The Zacks consensus estimate has remained unchanged for the past 30 days.

Qiagen has a Zacks rank of No. 3 (Hold) based on the general direction and magnitude of the estimate revisions. Additionally, the stock has a VGM score of A.

Benefiting from the Metaverse, the 3rd Internet Boom (Free Report):

Get Zacks’ special report revealing the best profit games for the next evolution of the internet. Early investors still have time to approach the “ground floor” of this $30 trillion opportunity. You will discover 5 surprising actions to help you cash in.

Download the report for FREE today >>

Click to get this free report

Biohaven Pharmaceutical Holding Company Ltd. (BHVN): free stock analysis report

QIAGEN NV (QGEN): Free Stock Analysis Report

To read this article on Zacks.com, click here.

Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Share.

Comments are closed.