BHVN

Biohaven

Fundamental data last updated:April 13, 2026

company profile

SECTOR

Healthcare

industry

Biotechnology

Exchange

NYSE

County of HQ

United States

Next Earnings Date

05/11/26

Business Summary

Biohaven operates as a biotechnology company focused on developing and commercializing novel therapeutics, typically targeting neurological and immunological disorders. Its model centers on investing heavily in research and development, advancing drug candidates through clinical trials, and monetizing success through commercialization or strategic partnerships. Cash generation is inherently milestone-driven and dependent on regulatory approvals and market adoption rather than steady recurring revenue. The moat, when it exists, comes from intellectual property protection, patent exclusivity, and differentiated clinical efficacy, which can create temporary pricing power if a therapy achieves meaningful therapeutic advantage.

VALUATION

P/E

-

Market Cap ($M USD)

$1,379

Forward P/E

-

PEG

-

PRICE TO SALES

-

PRICE TO BOOK

26.5

EV / EBITDA

-1.8

5-Year Average P/E

DIVIDEND

Yield

-

Annual Payout

-

Payout Ratio

-

Consecutive Years of Dividend Growth

0

5-Year Dividend Growth Rate

-

Financial Health & Profitability

Earnings Per Share

-$6.86

Next Year EPS Growth Estimate

-$1.95

Next Year Revenue Growth Estimate

-

Return on Equity (ROE)

-1418.80%

Operating Margin

-

Debt-to-Equity

5.5

Piotroski F-Score

3

Altman Z-Score

-9.2

Return on Invested Capital (ROIC)

-185.50%%

Current Ratio

3.2

Quick Ratio

Gainseekers Quantitative Analysis

Summary

BHVN is not being mispriced for growth—it is being priced for survival. With no P/E, no Forward P/E, negative EPS of -1.8, and an expected EPS Next Year of -$6.86, the earnings profile is deteriorating, not inflecting. The Altman Z-Score of -9.2 signals extreme financial distress risk, while ROIC at -185.50% confirms capital destruction at scale. A Price/Book of 26.5 against a company with an Operating Margin of -1418.80% is aggressive to the point of speculative, and a Piotroski F-Score of 3 reinforces weak underlying financial strength. This is not a misunderstood compounder—it is a deeply unprofitable biotech burning capital with material balance sheet risk.

AI Exposure / Tech Reliance

As a Biotechnology company within Healthcare, BHVN operates in a sector that increasingly leverages AI in drug discovery and clinical trial optimization. While the industry broadly benefits from computational biology and data-driven R&D, there is no financial evidence here of operational leverage or margin improvement from technology adoption. With Operating Margin at -1418.80%, any theoretical AI tailwind has yet to translate into economic productivity.

The Bull Case

A deep value or speculative GARP investor might argue that the $1,379M market cap reflects pessimism already priced in, particularly with a Current Ratio of 3.2 suggesting short-term liquidity coverage. Institutional Ownership at $22.75 implies some level of professional participation, which can provide technical support in distressed biotech names. The TTM Yield of 5.5 is unusual for a company with negative earnings and could attract yield-focused capital if sustainable. In biotech, binary outcomes drive asymmetric upside, and with a Piotroski F-Score of 3, even modest operational stabilization could re-rate the equity sharply from distressed levels. This is the kind of balance-sheet-liquidity-meets-optional-clinical-upside setup that appeals to high-risk capital seeking multi-bagger potential.

The Bear Case

The bear case is overwhelming. EPS of -1.8 deteriorating to an estimated -$6.86 next year, combined with Sales Growth Next Year of -$1.95, signals worsening fundamentals rather than a turnaround. Operating Margin at -1418.80% and ROIC at -185.50% show a business model that is not just unprofitable but structurally value-destructive. The Altman Z-Score of -9.2 is consistent with severe financial stress risk, and the absence of meaningful profitability metrics such as P/E, Forward P/E, PEG Forward, Return on Equity, and Debt/Equity underscores the lack of financial stability. A Price/Book of 26.5 in the context of these losses suggests investors are paying a steep premium for intangible pipeline hope rather than tangible economic returns.

Market Sentiment & Smart Money

Short Interest %

18.70%

Analyst Consensus

1.68

Average Analyst Price Target

$22.75

Institutional Ownership %

91.50%

1-Year Beta

1.14

Insider Buying % (6 Mo)

11.10%%

Distance to 52-Week High

38.10%%

Distance to 52-Week Low

122.60%%