BHVN - Biohaven Ltd.
Price:
--
--
|
CONSENSUS:
Buy
DETAILS
|
PRICE TARGET:
$17.60
DETAILS
HIGH:
$23.00
LOW:
$10.00
MEDIAN:
$18.00
CONSENSUS:
$17.60
UPSIDE:
86.24%
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|
| Revenue | |||||||
| Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cost of Revenue | 4.1 | 0 | 0 | 0 | 0 | 0 | 0 |
| Gross Profit | (4.1) | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Expenses | |||||||
| R&D Expenses | 635.1 | 795.9 | 373.3 | 437.1 | 181.5 | 98.5 | 344.7 |
| SG&A Expenses | 106.2 | 89.2 | 62.8 | 130.9 | 37.4 | 16.0 | 134.4 |
| Other Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Expenses | 741.2 | 885.1 | 436.1 | 567.9 | 218.9 | 114.5 | 479.1 |
| Operating Income | |||||||
| Operating Income | (745.4) | (885.1) | (436.1) | (567.9) | (218.9) | (114.5) | (479.1) |
| Interest Expense | 0 | 0 | 0 | 0 | 0 | 0 | (12.7) |
| Interest Income | 14.6 | 21.3 | 17.7 | 0 | 0 | 0 | 0 |
| Profitability | |||||||
| EBITDA | (727.5) | (877.3) | (429.1) | (566.5) | (217.5) | (114.4) | (479.1) |
| EBIT | (737.4) | (885.1) | (436.1) | (567.9) | (218.9) | (114.5) | (541.1) |
| Income Before Tax | (737.4) | (845.7) | (409.6) | (569.8) | (212.4) | (118.7) | (528.4) |
| Income Tax Expense | 1.4 | 0.7 | (1.4) | 0.4 | 1.4 | 0 | 0.4 |
| Net Income | (738.8) | (846.4) | (408.2) | (570.3) | (213.8) | (118.7) | (528.8) |
| Per Share Data | |||||||
| EPS (Basic) | -6.86 | -9.28 | -5.73 | -12.75 | -5.97 | -3.31 | -10.91 |
| EPS (Diluted) | -6.86 | -9.28 | -5.73 | -12.75 | -5.97 | -3.31 | -10.91 |
| Shares Outstanding | 107.6 | 91.2 | 71.2 | 44.7 | 35.8 | 35.8 | 48.5 |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Current Assets | |||||||||
| Cash & Cash Equivalents | 230.0 | 99.1 | 248.4 | 204.9 | 76.1 | 82.5 | 316.7 | 264.2 | 131.5 |
| Short-Term Investments | 89.2 | 386.9 | 133.4 | 260.5 | 0 | 0 | 0 | 0 | 0 |
| Net Receivables | 0 | 2.6 | 13.3 | 46.1 | 0 | 0 | 0 | 0 | 0 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Assets | 49.2 | 0.5 | 12.1 | 54.5 | 12.0 | 0.0 | 11.6 | 8.1 | 5.2 |
| Total Current Assets | 368.3 | 538.5 | 442.4 | 587.0 | 94.8 | 89.8 | 328.3 | 272.3 | 136.7 |
| Non-Current Assets | |||||||||
| Property, Plant & Equipment | 16.0 | 53.7 | 48.6 | 52.4 | 17.7 | 13.6 | 8.2 | 6.2 | 2.3 |
| Goodwill | 1.4 | 1.4 | 1.4 | 1.4 | 1.4 | 0 | 0 | 0 | 0 |
| Intangible Assets | 18.4 | 18.4 | 18.4 | 18.4 | 18.9 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 6 | 7.2 | 0 | 0 | 0 |
| Other Non-Current Assets | 47.4 | 3.1 | 2.4 | 2.6 | 3.2 | 1.0 | 7.8 | 11.4 | 7.9 |
| Total Non-Current Assets | 83.1 | 76.6 | 70.8 | 74.8 | 47.2 | 21.7 | 16.0 | 17.7 | 10.2 |
| Total Assets | 451.4 | 615.1 | 513.2 | 661.8 | 142.1 | 111.5 | 344.3 | 290.0 | 146.9 |
| Current Liabilities | |||||||||
| Account Payables | 11.6 | 18.0 | 15.6 | 10.7 | 4.8 | 2.8 | 14.1 | 10.8 | 4.7 |
| Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 104.3 | 84.7 | 0 | 14.6 | 0 | 7.5 | 52.1 | 8.8 | 4.7 |
| Total Current Liabilities | 115.9 | 154.2 | 55.4 | 90.0 | 41.9 | 29.9 | 66.2 | 19.5 | 9.4 |
| Non-Current Liabilities | |||||||||
| Long-Term Debt | 278.9 | 0 | 0 | 0 | 0 | 0 | 0 | 117.5 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 4.6 | 4.7 | 2.2 | 2.4 | 2.6 | 1.9 | 285.5 | 2.0 | 5.5 |
| Total Non-Current Liabilities | 283.4 | 37.4 | 29.8 | 33.0 | 5.4 | 4.8 | 285.5 | 119.6 | 5.5 |
| Total Liabilities | 399.4 | 191.7 | 85.2 | 123.0 | 47.4 | 34.7 | 351.7 | 139.1 | 14.9 |
| Stockholders' Equity | |||||||||
| Common Stock | 1,934.3 | 1,656.7 | 887.5 | 615.7 | 34.7 | 16.8 | 881.4 | 554.4 | 311.1 |
| Retained Earnings | (2,084.5) | (1,345.7) | (499.3) | (91.1) | 0 | 0 | (972.4) | (443.6) | (202.6) |
| Accumulated Other Comprehensive Income | 8.3 | 0.1 | (0.1) | 0.3 | 0 | 0 | 0 | 0 | 0 |
| Total Stockholders' Equity | 52.1 | 423.4 | 428.0 | 538.8 | 34.7 | 16.8 | (7.4) | 150.9 | 132.0 |
| Total Liabilities & Equity | 451.4 | 615.1 | 513.2 | 661.8 | 142.1 | 111.5 | 344.3 | 290.0 | 146.9 |
| Debt Metrics | |||||||||
| Total Debt | 278.9 | 36.6 | 30.9 | 33.6 | 3.2 | 3.6 | 0 | 117.5 | 0 |
| Net Debt | 48.9 | (62.5) | (217.5) | (171.3) | (72.8) | (78.9) | (316.7) | (146.7) | (131.5) |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | |||||||||
| Net Income | (738.8) | (846.4) | (408.2) | (570.3) | (213.8) | (118.7) | (528.8) | (240.9) | (127.2) |
| Depreciation & Amortization | 9.9 | 7.9 | 6.9 | 1.4 | 1.4 | 0.1 | 0 | 0 | 0 |
| Stock-Based Compensation | 112.4 | 72.0 | 28.8 | 193.6 | 65.6 | 29.5 | 55.0 | 16.9 | 13.2 |
| Change in Working Capital | 1.4 | 16.8 | 24.6 | (28.6) | 1.7 | 9.0 | 3.3 | 5.4 | 4.0 |
| Other Non-Cash Items | 5.7 | 167.3 | 16.1 | 106.3 | (0.7) | 4.2 | 93.2 | 21.5 | 15.2 |
| Operating Cash Flow | (609.4) | (582.5) | (331.7) | (297.7) | (145.8) | (76.0) | (377.3) | (197.1) | (94.8) |
| Investing Activities | |||||||||
| Capital Expenditure | (0.7) | (4.0) | (3.0) | (41.1) | (0.9) | (2.7) | (2.5) | (4.2) | (0.5) |
| Acquisitions | 0 | 0.4 | 0 | 0 | 1.9 | 0 | 0 | 0 | 0 |
| Purchases of Investments | (266.9) | (745.7) | (194.1) | (263.7) | 0 | 0 | 0 | (6.4) | (6.6) |
| Sales/Maturities of Investments | 570 | 504.4 | 327.0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Investing Activities | (1.8) | 0 | 0 | 0 | 0 | 0 | (1.2) | 0 | 0.1 |
| Investing Cash Flow | 300.6 | (245.0) | 129.8 | (304.8) | 0.9 | (2.7) | (3.8) | (10.5) | (7.0) |
| Financing Activities | |||||||||
| Net Debt Issuance | 250 | 0 | 0 | 449.1 | 0 | 0 | 0 | 0 | 0 |
| Stock Repurchased | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing Activities | (0.2) | 2.3 | (31.3) | 34.7 | 138.4 | 152.2 | 434.6 | 340.5 | 209.8 |
| Financing Cash Flow | 439.1 | 677.8 | 211.9 | 767.6 | 138.4 | 152.2 | 434.6 | 340.5 | 209.8 |
| Cash Position | |||||||||
| Net Change in Cash | 130.2 | (149.6) | 9.5 | 165.5 | (6.4) | 73.6 | 53.5 | 132.8 | 107.9 |
| Cash at Beginning | 102.5 | 252.1 | 242.6 | 77.1 | 83.5 | 9.9 | 264.2 | 131.5 | 23.6 |
| Cash at End | 232.8 | 102.5 | 252.1 | 242.6 | 77.1 | 83.5 | 317.7 | 264.2 | 131.5 |
| Free Cash Flow | (610.2) | (586.5) | (334.8) | (338.8) | (146.8) | (78.7) | (379.9) | (201.3) | (95.4) |
| Key Metrics | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | ||
|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||
| Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
| Gross Profit | (4.1) | 0 | 0 | 0 | 0 | 0 | 0 | ||
| Operating Income | (745.4) | (885.1) | (436.1) | (567.9) | (218.9) | (114.5) | (479.1) | ||
| Net Income | (738.8) | (846.4) | (408.2) | (570.3) | (213.8) | (118.7) | (528.8) | ||
| EPS (Diluted) | -6.86 | -9.28 | -5.73 | -12.75 | -5.97 | -3.31 | -10.91 | ||
| Balance Sheet | |||||||||
| Cash & Equivalents | 230.0 | 99.1 | 248.4 | 204.9 | 76.1 | 82.5 | 316.7 | 264.2 | 131.5 |
| Total Assets | 451.4 | 615.1 | 513.2 | 661.8 | 142.1 | 111.5 | 344.3 | 290.0 | 146.9 |
| Total Debt | 278.9 | 36.6 | 30.9 | 33.6 | 3.2 | 3.6 | 0 | 117.5 | 0 |
| Stockholders' Equity | 52.1 | 423.4 | 428.0 | 538.8 | 34.7 | 16.8 | (7.4) | 150.9 | 132.0 |
| Cash Flow | |||||||||
| Operating Cash Flow | (609.4) | (582.5) | (331.7) | (297.7) | (145.8) | (76.0) | (377.3) | (197.1) | (94.8) |
| Capital Expenditure | (0.7) | (4.0) | (3.0) | (41.1) | (0.9) | (2.7) | (2.5) | (4.2) | (0.5) |
| Free Cash Flow | (610.2) | (586.5) | (334.8) | (338.8) | (146.8) | (78.7) | (379.9) | (201.3) | (95.4) |