BHVN
Biohaven Ltd.
NYSEUSDEQUITY
Healthcare
DELAYED
Neutral
-13/100
Last price
12.08
▼ 0.89 (6.86%)
MARKET · —
Price
Chart style
Interval
Intraday intervals only cover recent history. The site picks the finest interval the range allows.
Overlays
Session levels
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Both series are rebased to 0% at the left edge, so the lines show relative performance rather than price.
Tool
1D
—
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Range —
Vol —
vs
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Open
—
Prev close
12.97
Day high
13.00
Day low
11.88
Volume
3.05M
Market cap
$1.82B
P/E (TTM)
—
52W range
7.48 – 18.57
Trailing performance
Returnvs SPY
1W
-9.10%
-11.1%
1M
-23.01%
-24.2%
3M
-27.40%
-31.9%
6M
+30.45%
+12.3%
YTD
+7.00%
-7.3%
1Y
-23.59%
-40.0%
3Y
-53.56%
-135.8%
5Y
—
—
Price return only. Dividends are not reinvested, so total return on a dividend payer will be higher than shown.
Unusual options activity
Nothing crossed the thresholds in the expiries we scanned.
That is the normal state — most contracts trade well inside their existing open interest.
That is the normal state — most contracts trade well inside their existing open interest.
Contracts trading at or above their open interest, ranked by notional and where the print landed.
Free account
5 more panels on BHVN open with an account.
Options chains and analytics, valuation ratios, insider filings, analyst targets and ownership. No card, no trial, nothing to cancel.
Insider net activity
Net shares
0
Net selling
Buy transactions
0
0 shares
Sell transactions
0
—
Net transactions
0
Buys less sells
Sell : buy shares
—
Not enough filings
Insider-held shares
16.92M
Total on file
Insider transactions
| Date | Insider | Action | Shares | Value | Held |
|---|---|---|---|---|---|
| Mar 17, 26 | MEHTA KISHAN Director |
STOCK | 17.34K | $0 | Direct |
| Jan 5, 26 | GENTILE KIMBERLY A Officer |
— | 3.75K | — | Direct |
| Jan 5, 26 | CORIC VLADIMIR Chief Executive Officer |
— | 14.25K | — | Direct |
| Jan 5, 26 | CAR BRUCE Officer |
— | 4.75K | — | Direct |
| Jan 5, 26 | CLARK GEORGE C. Officer |
— | 2.50K | — | Direct |
| Jan 5, 26 | BUTEN MATTHEW Chief Financial Officer |
— | 4.25K | — | Direct |
| Nov 17, 25 | CLARK GEORGE C. Officer |
BUY | 17.00K | $144.77K | Indirect |
| Nov 13, 25 | CHILDS JOHN W Director |
BUY | 3.33M | $25.00M | Indirect |
| Nov 13, 25 | BAILEY GREGORY HUGH Director |
BUY | 400.00K | $3.00M | Direct |
| Nov 13, 25 | CORIC VLADIMIR Chief Executive Officer |
BUY | 666.67K | $5.00M | Indirect |
| Mar 4, 25 | CHILDS JOHN W Director |
BUY | 32.70K | $996.24K | Indirect |
| Mar 4, 25 | CHILDS JOHN W Director |
BUY | 29.30K | $891.77K | Indirect |
| Jan 3, 25 | GENTILE KIMBERLY A Officer |
— | 3.75K | — | Direct |
| Jan 3, 25 | CORIC VLADIMIR Chief Executive Officer |
— | 14.25K | — | Direct |
What this is, and what it is not
These are SEC Form 4 filings — officers, directors and 10% owners reporting their own trades in the company's stock. Filing is due within two business days of the transaction, so this lags reality by days, and the provider adds its own lag on top.
A sale is not automatically bearish. Executives sell on scheduled 10b5-1 plans, to cover tax on vesting equity, and to diversify. Purchases with cash are generally the more informative signal, and they are far rarer.
This does not include congressional or senate trading. That comes from STOCK Act disclosures filed with the Senate eFD system and the House Clerk, which this data source does not carry.
Officer and director trades in their own stock, straight from Form 4 filings.
Insider holders
| Name | Relation | Shares held | Latest |
|---|---|---|---|
BAILEY GREGORY HUGH |
Director | 2.02M | Purchase |
BUTEN MATTHEW |
Chief Financial Officer | 195.65K | Conversion of Exercise of derivative security |
CAR BRUCE |
Officer | 37.72K | Conversion of Exercise of derivative security |
CHILDS JOHN W |
Director | — | Purchase |
CLARK GEORGE C. |
Officer | 86.98K | Conversion of Exercise of derivative security |
CORIC VLADIMIR |
Chief Executive Officer | 3.85M | Conversion of Exercise of derivative security |
GENTILE KIMBERLY A |
Officer | 99.56K | Conversion of Exercise of derivative security |
MEHTA KISHAN |
Director | 22.66K | Stock Gift |
Fundamentals
Market cap$1.82B
Enterprise value$1.85B
Revenue (TTM)—
Gross profit—
EBITDA$-520.11M
Net income$-586.84M
EPS (TTM)$-4.56
Free cash flow$-256.22M
Total cash$267.87M
Total debt$297.04M
Book value / share$0.08
Shares outstanding151.04M
Float116.57M
Short % of float17.32%
Dividend yield0.00%
Beta (5Y)3.20
Valuation & profitability ratios
Trailing P/E—
Forward P/E-6.45
PEG ratio—
Price / sales—
Price / book149.14
EV / revenue—
EV / EBITDA-3.56
Gross margin0.00%
Operating margin0.00%
Profit margin0.00%
Return on equity-799.46%
Return on assets-71.98%
Debt / equity2,430.33
Current ratio4.73
Fourteen ratios including P/E, PEG, EV/EBITDA, margins and return on equity.
Financial statements
| Line item | 2025 | 2024 | 2023 | 2022 | YoY |
|---|---|---|---|---|---|
| Total revenue | $0 | $0 | $0 | $0 | — |
| Operating revenue | $0 | $0 | $0 | $0 | — |
| Research & development | $635.07M | $795.87M | $373.28M | $437.07M | -20.2% |
| Selling, general & admin | $110.31M | $89.24M | $62.77M | $130.86M | +23.6% |
| Total operating expense | $745.38M | $885.11M | $436.05M | $567.93M | -15.8% |
| Operating income | -$745.38M | -$885.11M | -$436.05M | -$567.93M | +15.8% |
| Pre-tax income | -$737.38M | -$845.69M | -$409.55M | -$569.84M | +12.8% |
| Tax provision | $1.44M | $735.00K | -$1.38M | $438.00K | +96.2% |
| Net income | -$738.82M | -$846.42M | -$408.17M | -$570.28M | +12.7% |
| Net income to common | -$738.82M | -$846.42M | -$408.17M | -$570.28M | +12.7% |
| Basic EPS | -6.86 | -9.28 | -5.73 | -12.75 | +26.1% |
| Diluted EPS | -6.86 | -9.28 | -5.73 | -12.75 | +26.1% |
| EBIT | -$745.38M | -$885.11M | -$436.05M | -$567.93M | +15.8% |
| EBITDA | -$735.46M | -$877.26M | -$429.14M | -$566.55M | +16.2% |
| Basic shares | 107.62M | 91.23M | 71.20M | 44.74M | +18.0% |
| Diluted shares | 107.62M | 91.23M | 71.20M | 44.74M | +18.0% |
| Line item | 2025 | 2024 | 2023 | 2022 | YoY |
|---|---|---|---|---|---|
| Cash & equivalents | $229.96M | $99.13M | $248.40M | $204.88M | +132.0% |
| Cash & short-term investments | $319.14M | $485.99M | $381.82M | $465.34M | -34.3% |
| Total current assets | $368.33M | $538.47M | $442.45M | $586.97M | -31.6% |
| Property, plant & equipment | $61.02M | $53.71M | $48.58M | $52.44M | +13.6% |
| Goodwill & intangibles | $19.79M | $19.79M | $19.79M | $19.79M | 0.0% |
| Total assets | $451.45M | $615.11M | $513.21M | $661.78M | -26.6% |
| Total current liabilities | $115.93M | $154.23M | $55.42M | $90.02M | -24.8% |
| Long-term debt | $238.90M | — | — | — | — |
| Total debt | $284.61M | $36.58M | $30.88M | $33.60M | +678.0% |
| Total liabilities | $399.38M | $191.67M | $85.24M | $123.01M | +108.4% |
| Retained earnings | -$2.08B | -$1.35B | -$499.29M | -$91.12M | -54.9% |
| Shareholder equity | $52.07M | $423.44M | $427.98M | $538.77M | -87.7% |
| Working capital | $252.40M | $384.25M | $387.02M | $496.95M | -34.3% |
| Net tangible assets | $32.28M | $403.65M | $408.19M | $518.98M | -92.0% |
| Shares issued | 132.78M | 101.22M | 81.12M | 68.19M | +31.2% |
| Line item | 2025 | 2024 | 2023 | 2022 | YoY |
|---|---|---|---|---|---|
| Net income | -$738.82M | -$846.42M | -$408.17M | -$570.28M | +12.7% |
| Depreciation & amortisation | $9.92M | $7.86M | $6.91M | $1.39M | +26.3% |
| Stock-based compensation | $112.36M | $71.96M | $28.79M | $193.56M | +56.1% |
| Change in working capital | $1.36M | $16.81M | $24.61M | -$28.60M | -91.9% |
| Operating cash flow | -$609.44M | -$582.45M | -$331.73M | -$297.69M | -4.6% |
| Capital expenditure | -$715.00K | -$4.05M | -$3.05M | -$41.07M | +82.3% |
| Investing cash flow | $300.56M | -$244.97M | $129.83M | -$304.79M | +222.7% |
| Financing cash flow | $439.12M | $677.77M | $211.91M | $767.60M | -35.2% |
| Free cash flow | -$610.15M | -$586.50M | -$334.77M | -$338.76M | -4.0% |
| End cash position | $232.78M | $102.54M | $252.12M | $242.60M | +127.0% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | YoY |
|---|---|---|---|---|---|---|
| Total revenue | $0 | $0 | $0 | $0 | $0 | — |
| Operating revenue | $0 | $0 | $0 | $0 | $0 | — |
| Research & development | $100.81M | $103.83M | $121.94M | $141.17M | $184.37M | -2.9% |
| Selling, general & admin | $24.09M | $26.60M | $20.79M | $28.21M | $27.33M | -9.5% |
| Total operating expense | $124.90M | $130.43M | $142.73M | $169.38M | $211.70M | -4.2% |
| Operating income | -$124.90M | -$130.43M | -$142.73M | -$169.38M | -$211.70M | +4.2% |
| Pre-tax income | -$136.92M | -$130.26M | -$145.20M | -$173.22M | -$197.89M | -5.1% |
| Tax provision | $391.00K | $272.00K | $351.00K | $221.00K | $261.00K | +43.8% |
| Net income | -$137.31M | -$130.53M | -$145.56M | -$173.44M | -$198.15M | -5.2% |
| Net income to common | -$137.31M | -$130.53M | -$145.56M | -$173.44M | -$198.15M | -5.2% |
| Basic EPS | -0.91 | -0.88 | -1.21 | -1.64 | -1.94 | -3.4% |
| Diluted EPS | -0.91 | -0.88 | -1.21 | -1.64 | -1.94 | -3.4% |
| EBIT | -$124.90M | -$130.43M | -$142.73M | -$169.38M | -$211.70M | +4.2% |
| EBITDA | -$122.64M | -$128.06M | -$140.16M | -$166.26M | -$209.72M | +4.2% |
| Basic shares | 150.64M | 147.62M | 120.19M | 105.82M | 102.37M | +2.0% |
| Diluted shares | 150.64M | 147.62M | 120.19M | 105.82M | 102.37M | +2.0% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | YoY |
|---|---|---|---|---|---|---|
| Cash & equivalents | $238.03M | $273.07M | $229.96M | $184.85M | $165.80M | -12.8% |
| Cash & short-term investments | $267.87M | $347.82M | $319.14M | $260.22M | $404.98M | -23.0% |
| Total current assets | $296.56M | $385.65M | $368.33M | $323.62M | $474.83M | -23.1% |
| Property, plant & equipment | $51.60M | $58.66M | $61.02M | $62.72M | $52.84M | -12.0% |
| Goodwill & intangibles | $19.79M | $19.79M | $19.79M | $19.79M | $19.79M | 0.0% |
| Total assets | $370.74M | $466.41M | $451.45M | $409.12M | $550.41M | -20.5% |
| Total current liabilities | $62.66M | $52.08M | $115.93M | $113.02M | $124.32M | +20.3% |
| Long-term debt | $259.48M | $241.91M | $238.90M | $268.27M | $257.07M | +7.3% |
| Total debt | $297.04M | $286.18M | $284.61M | $314.18M | $291.56M | +3.8% |
| Total liabilities | $358.52M | $336.91M | $399.38M | $426.28M | $415.83M | +6.4% |
| Retained earnings | -$2.35B | -$2.22B | -$2.08B | -$1.94B | -$1.77B | -6.2% |
| Shareholder equity | $12.22M | $129.50M | $52.07M | -$17.16M | $134.59M | -90.6% |
| Working capital | $233.90M | $333.57M | $252.40M | $210.59M | $350.50M | -29.9% |
| Net tangible assets | -$7.57M | $109.71M | $32.28M | -$36.95M | $114.80M | -106.9% |
| Shares issued | 151.02M | 150.51M | 132.78M | 105.80M | 105.78M | +0.3% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | YoY |
|---|---|---|---|---|---|---|---|
| Net income | -$137.31M | -$130.53M | -$145.56M | -$173.44M | -$198.15M | — | -5.2% |
| Depreciation & amortisation | $2.26M | $2.37M | $2.57M | $3.13M | $1.98M | — | -4.5% |
| Stock-based compensation | $19.16M | $28.29M | $16.95M | $21.54M | $20.81M | — | -32.2% |
| Change in working capital | $16.67M | -$53.07M | -$9.82M | -$3.01M | $18.56M | — | +131.4% |
| Operating cash flow | -$85.10M | -$149.92M | -$130.66M | -$145.72M | -$167.94M | — | +43.2% |
| Capital expenditure | — | — | -$8.00K | -$13.00K | -$233.00K | -$461.00K | — |
| Investing cash flow | $44.82M | $15.21M | -$13.74M | $164.97M | -$15.55M | — | +194.6% |
| Financing cash flow | $3.80M | $179.02M | $188.80M | $122.00K | $249.83M | — | -97.9% |
| Free cash flow | -$85.55M | -$149.92M | -$130.67M | -$145.73M | -$168.17M | — | +42.9% |
| End cash position | $240.63M | $277.11M | $232.78M | $188.38M | $169.00M | — | -13.2% |
Options analytics
Put / call volume
1.16
Put-heavy session
Put / call open interest
0.00
Positioning, not flow
Max pain
7.00
-42.1% from spot
ATM implied vol
0.0%
Nearest strike to spot
Skew (10% OTM)
0.0%
Calls bid over puts
Call volume
150
Contracts, this expiry
Put volume
174
Contracts, this expiry
Heaviest call OI
22.00
4.69K contracts
Heaviest put OI
6.00
6 contracts
Max pain is the strike at which the largest dollar value of open contracts expires worthless. It describes current positioning; it is not a forecast and it moves as open interest changes.
Put/call ratios, max pain, implied volatility skew and where open interest is concentrated.
Earnings
Reported vs expected · EPS
| Quarter | Est. | Actual | Surprise |
|---|---|---|---|
| Jun 2026 | -0.61 | -0.78 | -27.6% |
| Mar 2026 | -0.76 | -0.69 | +9.7% |
| Dec 2025 | -0.96 | -0.90 | +5.8% |
| Sep 2025 | -1.54 | -1.47 | +4.8% |
Forward consensus
| Period | EPS | Analysts | Revenue | Growth |
|---|---|---|---|---|
| Current quarter | 0.16 | 6 | $50.00M | 0.0% |
| Next quarter | -0.49 | 6 | $0 | 0.0% |
| Current year | -1.65 | 6 | $50.00M | 0.0% |
| Next year | -1.87 | 6 | $39.99M | -20.0% |
Analyst targets & ownership
Mean target$21.27
High target$42.00
Low target$10.00
Implied upside76.05%
Analyst count15
ConsensusBUY
Strong buy / Buy3 / 9
Hold4
Sell / Strong sell0 / 1
Held by insiders11.21%
Held by institutions95.72%
Institutions holding378
Price targets, consensus spread, insider and institutional ownership.
Moving averages & technicals
SMA 10
13.08
-7.66% from price
SMA 20
13.25
-8.80% from price
SMA 50
14.02
-13.86% from price
SMA 100
13.50
-10.51% from price
SMA 200
12.06
+0.19% from price
EMA 12
13.12
-7.92% from price
EMA 26
13.54
-10.77% from price
EMA 50
13.74
-12.06% from price
RSI (14)
37.8
Neutral
MACD (12,26,9)
-0.42
Hist -0.09
ATR (14)
0.94
7.76% of price
Realised vol 30D
94.2%
Annualised
Bollinger upper
14.81
20, 2σ
Bollinger lower
11.68
20, 2σ
50 / 200 cross
Golden
14.02 vs 12.06
Trend bias
Above 200
+0.19%
Options chain
Calls
| Strike | Last | Bid | Ask | Vol | OI | IV |
|---|---|---|---|---|---|---|
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
Puts
| Strike | Last | Bid | Ask | Vol | OI | IV |
|---|---|---|---|---|---|---|
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
Every listed expiry, both sides of the book, with volume, open interest and implied volatility.
Risk profile
Beta vs SPY
1.19
More volatile than market
Correlation to SPY
0.17
Largely independent
Realised vol 30D
94.2%
Annualised
Market vol 1Y
13.0%
SPY, annualised
Max drawdown 1Y
-57.0%
Peak to trough
Max drawdown 5Y
-87.0%
Peak to trough
ATR 14
0.94
7.76% of price
Beta (reported)
3.20
5Y monthly, from filing
Short interest
Shares short
20.45M
Prior 17.82M
Change vs prior
+14.8%
Shorts adding
% of float
17.32%
Elevated
% of shares out
13.54%
Against total outstanding
Days to cover
5.7
Crowded exit
Float
116.57M
Freely tradeable shares
Exchanges publish short interest twice a month with a settlement lag, so this is roughly two weeks behind. Days to cover divides shares short by average daily volume — it estimates how long covering would take, not whether it will happen.
Rating changes
| Date | Firm | Action | From | To |
|---|---|---|---|---|
| Sep 10, 26 | HC Wainwright & Co. | MAINTAINED | Neutral | Neutral |
| Sep 8, 26 | RBC Capital | DOWNGRADE | Outperform | Sector Perform |
| Aug 12, 26 | Morgan Stanley | MAINTAINED | Overweight | Overweight |
| Aug 11, 26 | RBC Capital | MAINTAINED | Outperform | Outperform |
| Jun 29, 26 | B of A Securities | DOWNGRADE | Neutral | Underperform |
| May 26, 26 | HC Wainwright & Co. | MAINTAINED | Neutral | Neutral |
| May 13, 26 | Morgan Stanley | MAINTAINED | Overweight | Overweight |
| May 5, 26 | RBC Capital | MAINTAINED | Outperform | Outperform |
| Apr 2, 26 | Citigroup | MAINTAINED | Buy | Buy |
| Mar 11, 26 | TD Cowen | MAINTAINED | Buy | Buy |
| Mar 4, 26 | HC Wainwright & Co. | MAINTAINED | Neutral | Neutral |
| Mar 3, 26 | RBC Capital | MAINTAINED | Outperform | Outperform |
Dividends & splits
Forward rate—
Forward yield0.00%
5-year avg yield—
Payout ratio—
Ex-dividend date—
Next pay date—
Last split—
Split date—
SEC filings
Corporate Changes & Voting Matters
8-K · 2026-09-10
Corporate Changes & Voting Matters
8-K · 2026-08-26
Periodic Financial Reports
10-Q · 2026-08-10
Corporate Changes & Voting Matters
8-K · 2026-08-07
Corporate Changes & Voting Matters
8-K · 2026-07-09
Corporate Changes & Voting Matters
8-K · 2026-05-27
Corporate Changes & Voting Matters
8-K · 2026-05-05
Offering Registrations
S-3ASR · 2026-05-04
Headlines
Roche’s AI lab; Biohaven’s pivotal pause
Pharma Voice · 5d ago
Why Did Regeneron Pharmaceuticals (REGN) Stock Drop Today?
Simply Wall St. · 8d ago
Biohaven's Clinical Data on BHV-1530, a Novel FGFR3-Directed ADC With a Proprietary Topoisomerase I (TopoIx) Payload, Selected for Oral Presentation at the EORTC-NCI-AACR Symposium 2026
PR Newswire · 9d ago
Has Biohaven (BHVN) Fallen Far Enough to Look Fully Priced?
Simply Wall St. · 12d ago
Xenon Stock Craters 30% on Drug Trial Setback. Its Failure Could Be This Biotech’s Gain.
Barrons.com · 19d ago
Warby Parker’s Unusual Options Activity Points to a Covered Call Bet: Bullish on Growth, Cautious on Valuation
Barchart · 19d ago
Biohaven's Kv7 Program Remains Key Stock Driver, UBS Says
MT Newswires · 19d ago
Biohaven’s epilepsy drug hit with FDA clinical hold
Clinical Trials Arena · 26d ago
PRIVATE STRATEGY · BY QUALIFICATION
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