Biohaven Ltd.

NYSE:BHVN Stock Report

Market Cap: US$2.2b

Biohaven Management

Management criteria checks 1/4

Biohaven's CEO is Vlad Coric, appointed in May 2022, has a tenure of 4.17 years. total yearly compensation is $13.50M, comprised of 6.8% salary and 93.2% bonuses, including company stock and options. directly owns 2.56% of the company’s shares, worth $57.20M. The average tenure of the management team and the board of directors is 1.9 years and 3.8 years respectively.

Key information

Vlad Coric

Chief executive officer

US$13.5m

Total compensation

CEO salary percentage6.82%
CEO tenure4.2yrs
CEO ownership2.6%
Management average tenure1.9yrs
Board average tenure3.8yrs

Recent management updates

Recent updates

Seeking Alpha • Jul 13

Biohaven: Nice Pipeline Momentum, But Its Runway Is A Risk

Summary Biohaven’s pipeline is now more focused after having to narrow down its R&D efforts to other assets. Today, I think opakalim’s pivotal epilepsy readout is probably the most important near-term catalyst that could validate their pipeline. They also have interesting, albeit early, positive findings with BHV-1300 and BHV-1400 for their degrader platform. Lastly, I believe taldefgrobep may become differentiated as a weight loss asset because it helps with fat loss while also preserving lean mass. However, I admit the stock has already rerated since my previous article on them. Yet, given their pipeline’s broader potential, I still lean bullish on BHVN long term. Read the full article on Seeking Alpha
Analysis Article • Jun 21

Biohaven (BHVN) Stock Looks Rich After Pivotal Trial Plans Lift Shares

Biohaven (BHVN) drew investor attention after its stock rose 12.66% as the company outlined plans to start pivotal clinical studies for several cancer and autoimmune candidates in its pipeline. See our latest analysis for Biohaven. Looking beyond the latest jump, Biohaven’s share price return has been strong over shorter periods, with a 20.3% 7 day and 43.6% 30 day move. However, the 1 year total shareholder return declined 6.2%, which suggests recent momentum is rebuilding after a weaker...
Analysis Article • May 02

An Intrinsic Calculation For Biohaven Ltd. (NYSE:BHVN) Suggests It's 47% Undervalued

Key Insights Biohaven's estimated fair value is US$42.26 based on 2 Stage Free Cash Flow to Equity Current share price...
Seeking Alpha • Feb 28

Biohaven's Exciting Year Of Catalysts

Summary Following Pfizer's acquisition, Biohaven's valuation surged from $300M at $7/share to over $4B at $42/share under Vlad Coric's leadership. Despite the significant valuation increase, substantial upside remains due to Biohaven's promising later-stage clinical assets with key catalysts expected in 2025. The investment thesis hinges on the potential success of these clinical assets, which could drive further valuation growth. The current valuation rise is justified by the strategic leadership and promising pipeline, suggesting continued growth potential. Read the full article on Seeking Alpha
Seeking Alpha • Feb 11

Biohaven: Highly Priced Biotech With Broad Pipeline But No Revenues

Summary Biohaven's pipeline is broad with multiple late stage molecules. Analysis based on Biohaven's 01/2025 J.P. Morgan Healthcare Conference Highlights and Presentation, Q3 2024 Earnings Release, and  10-Q. Biohaven's lead product's NDA is under review by the FDA. Article concludes with a "Hold" rating based on its hefty market cap and uncertain prospects. Read the full article on Seeking Alpha
Seeking Alpha • Nov 29

Biohaven's Revenue Path: SCA And Obesity Therapies

Summary Biohaven’s pipeline progression includes Troriluzole for spinocerebellar ataxia [SCA], which has shown a 50-70% reduction in disease progression over three years. BHV-2100, a non-opioid migraine treatment, targets unmet needs in a market affecting 40 million U.S. patients and 1 billion globally. Taldefgrobep Alfa, under investigation for SMA and obesity, demonstrated subgroup-specific motor function improvements and favorable safety in Phase 3 trials. Despite a $250 million equity raise, BHVN's cash burn of $141.9 million per quarter poses financial sustainability risks, making commercialization critical. Therefore, BHVN's positive clinical progress, high cash burn, and frequent equity raises make it a speculative buy. Read the full article on Seeking Alpha
Seeking Alpha • Oct 11

Biohaven: A Complicated Tale

Summary Biohaven's stock has surged despite past setbacks, driven by promising data from its troriluzole trials for spinocerebellar ataxia and ongoing OCD studies. The company is advancing a diverse pipeline, including myostatin inhibitor taldefgrobep alfa for SMA and obesity, and Kv7 ion channel activator BHV-7000 for epilepsy. Biohaven's strategic capital raises, and positive clinical data have rallied its stock, but future dilution risks remain if trials disappoint. An updated analysis of Biohaven follows in the paragraphs below. Read the full article on Seeking Alpha
Seeking Alpha • Sep 23

Biohaven: Positive SCA Treatment Data Leads To Q4 2024 NDA Submission Catalyst

Summary Biohaven Ltd. reported positive results from a pivotal study using troriluzole for the treatment of patients with spinocerebellar ataxia; the Drug achieved 50% to 70% of slowing of disease progression over 3 years. With positive data on hand from the phase 3 study using troriluzole for patients with spinocerebellar ataxia, an NDA submission is planned for Q4 of 2024. Troriluzole is also being explored for patients with obsessive compulsive disorder in two phase 3 studies; Data from these studies are expected before the end of 2024 and the 1st half of 2025. Topline data from the phase 3 study using Taldefgrobep Alfa for SMA is expected 2nd half of 2024; the Drug is also expected to be initiated in a phase 2 study for obesity as well. Read the full article on Seeking Alpha
Seeking Alpha • Jul 26

Biohaven: Taldefgrobep Alfa Might Have A Place Beyond SMA Treatment

Summary Results from phase 3 RESILIENT study, using taldefgrobep alfa for the treatment of patients with spinal muscular atrophy, expected in the 2nd half of 2024. The global spinal muscular atrophy treatment market is projected to reach $8.4 billion by 2032. Preclinical model testing showed that myostatin inhibitor taldefgrobep alfa + GLP-1 inhibitor was able to show greater reductions in body weight and fat loss, compared to that of GLP-1 alone. It is expected that the global obesity treatment market size is expected to be worth $38 billion by 2032. Read the full article on Seeking Alpha
Seeking Alpha • May 18

Biohaven: Promising Pipeline With Troriluzole, Taldefgrobep Alfa, And BHV-7000 Leading The Charge

Summary Biohaven Ltd. is a spinout of Biohaven Pharmaceutical, focusing on developing drugs in the life sciences field. BHVN has three Phase 3 drug candidates: troriluzole for OCD, taldefgrobep alfa for SMA, and BHV-7000 for epilepsy and bipolar disorder. Also, the company has a diverse pipeline of drugs in various stages, including those targeting neurology, immunology, and oncology. Upcoming catalysts include FDA approval decisions and clinical trial results, which could significantly impact BHVN's stock performance. Despite the short cash runway, BHVN is a 'buy' due to its promising drug candidates and upcoming catalysts. Read the full article on Seeking Alpha
Analysis Article • Apr 06

We're Keeping An Eye On Biohaven's (NYSE:BHVN) Cash Burn Rate

We can readily understand why investors are attracted to unprofitable companies. By way of example, Biohaven...
Analysis Article • Mar 01

Calculating The Intrinsic Value Of Biohaven Ltd. (NYSE:BHVN)

Key Insights Using the 2 Stage Free Cash Flow to Equity, Biohaven fair value estimate is US$49.64 With US$48.14 share...
Seeking Alpha • Feb 28

Biohaven's Bounce Back: A Missed Call Turns Bullish (Rating Upgrade)

Summary Biohaven's stock rose 130% post "Sell" recommendation; overlooked assets like BHV-7000 suggest early growth stages remain. The company's pipeline, particularly their Kv7 activators and IgG degrader, show promise and have blockbuster potential in treating epilepsy and immune-mediated diseases. Financially, with a cash runway extended to 20.7 months post-offering, Biohaven shows robust short-term health. Upgrading BHVN to "Buy" due to pipeline promise and market potential, despite competition risks and high cash burn. Read the full article on Seeking Alpha
Seeking Alpha • Dec 08

Biohaven Ltd.: Too Far, Too Fast (Rating Downgrade)

Summary Today, we circle back on a promising biopharma concern called Biohaven Ltd., whose shares have had a significant rally in recent months. The company has a diverse pipeline of therapies for neurological and neuropsychiatric diseases, with a mixture of early and late-stage candidates. A portfolio review and analysis around Biohaven follow in the paragraphs below. Read the full article on Seeking Alpha
Analysis Article • Dec 04

Here's Why We're Watching Biohaven's (NYSE:BHVN) Cash Burn Situation

Just because a business does not make any money, does not mean that the stock will go down. For example, Biohaven...
Seeking Alpha • Sep 27

Biohaven: Soaring Share Price On New Data Could Be Too Good To Be True

Summary Biohaven's stock surged nearly 30% following updates on its preclinical asset, the IgA degrader BHV-1300. The company's stock has risen more than 270% since its spinout from parent company Biohaven Pharmaceutical. Biohaven's preclinical pipeline includes assets targeting a wide range of central nervous system conditions and autoimmune diseases. As intriguing as today's data was, it does not necessarily support the buy case for Biohaven. Arguably, the data may have been released in response to promising IgG removal data released by Immunovant earlier this week. Time will tell, but I'm on the sidelines. Read the full article on Seeking Alpha
Seeking Alpha • Aug 28

Biohaven's Valuation Challenge: Weighing Potential Against Setbacks

Summary Biohaven faces FDA rejection for troriluzole; explores further discussions and potential subgroup focus. Despite FDA setback, Biohaven maintains a strong cash position, diversified pipeline, and ongoing R&D efforts. Given current uncertainties and valuation, I recommend a "Sell" stance on Biohaven's stock. Read the full article on Seeking Alpha
Analysis Article • Jul 22

Here's Why We're Watching Biohaven's (NYSE:BHVN) Cash Burn Situation

Just because a business does not make any money, does not mean that the stock will go down. For example, biotech and...
Seeking Alpha • Jun 14

Biohaven: A Promising Investment In Innovative Neurological Therapies

Summary Biohaven offers a diverse portfolio of innovative drug development assets targeting various therapeutic areas, with a focus on neurodegenerative and neuroinflammatory conditions. The company's robust financials, diverse revenue streams, and recent performance results indicate a bright future and strong investment potential. Biohaven's innovative approaches and unique mechanisms of action set it apart from competitors, positioning the company as a compelling investment opportunity in the biopharmaceutical industry. Read the full article on Seeking Alpha

CEO Compensation Analysis

How has Vlad Coric's remuneration changed compared to Biohaven's earnings?
DateTotal CompensationSalaryCompany Earnings
Mar 31 2026n/an/a

-US$648m

Dec 31 2025US$14mUS$920k

-US$739m

Sep 30 2025n/an/a

-US$780m

Jun 30 2025n/an/a

-US$767m

Mar 31 2025n/an/a

-US$889m

Dec 31 2024US$10mUS$885k

-US$846m

Sep 30 2024n/an/a

-US$804m

Jun 30 2024n/an/a

-US$747m

Mar 31 2024n/an/a

-US$517m

Dec 31 2023US$7mn/a

-US$408m

Sep 30 2023n/an/a

-US$465m

Jun 30 2023n/an/a

-US$431m

Mar 31 2023n/an/a

-US$544m

Dec 31 2022US$7mUS$200k

-US$570m

Compensation vs Market: Vlad's total compensation ($USD13.50M) is above average for companies of similar size in the US market ($USD5.16M).

Compensation vs Earnings: Vlad's compensation has increased whilst the company is unprofitable.

CEO

Vlad Coric (55 yo)

4.2yrs
Tenure
US$13,500,438
Compensation

Dr. Vladimir Coric, also known as Vlad, MD, is Independent Non-Employee Director of Veradermics, Incorporated from September 2021. Dr. Coric is Independent Director of Royalty Pharma plc from April 8, 2025...

Leadership Team

NamePositionTenureCompensationOwnership
Vladimir Coric
Chairman & CEO4.2yrsUS$13.50m2.56%
$ 57.2m
Matthew Buten
Chief Financial Officerno dataUS$4.52m0.13%
$ 2.9m
Kimberly Gentile
Senior Vice President of Clinical Operationsno dataUS$3.96m0.066%
$ 1.5m
Bruce Car
Chief Innovation Officerno dataUS$4.77m0.045%
$ 1.0m
Deb Young
Senior Director of Regulatory Affairs & Operations3.5yrsno datano data
George Clark
VP & Chief Accounting Officerno datano data0.058%
$ 1.3m
John McGill
Chief Technology Officerless than a yearno datano data
Jennifer Porcelli
Vice President of Investor Relationsno datano datano data
Warren Volles
General Counsel & Chief Legal Officerno datano data0.16%
$ 3.7m
Clifford Bechtold
President & GM of Biohaven Ireland Chief Compliance Officerno datano datano data
John Tilton
Chief Commercial Officer of Rare Diseasesno datano datano data
Chris Barrett
Senior Vice President of Commercial Strategy & Common Diseaseno datano datano data
1.9yrs
Average Tenure
59yo
Average Age

Experienced Management: BHVN's management team is not considered experienced ( 1.9 years average tenure), which suggests a new team.

Board Members

NamePositionTenureCompensationOwnership
Vladimir Coric
Chairman & CEO4.2yrsUS$13.50m2.56%
$ 57.2m
Douglas Gray
Corporate Secretary & Directorno datano datano data
John Childs
Independent Director3.8yrsUS$555.94k6.56%
$ 146.8m
Julia Gregory
Independent Director3.8yrsUS$560.94k0.017%
$ 381.5k
Robert Hugin
Independent Director3.8yrsUS$552.94k0.0086%
$ 192.6k
Gregory Bailey
Independent Director3.8yrsUS$555.94k1.34%
$ 30.0m
Michael Heffernan
Lead Independent Director3.8yrsUS$597.94k0.010%
$ 225.5k
Richard B. Lipton
Member of Scientific Advisory Boardno datano datano data
John Krystal
Member of Scientific Advisory Boardno datano datano data
Irina Antonijevic
Director3.8yrsUS$542.94k0.0017%
$ 37.6k
Kishan Mehta
Director3.8yrsUS$535.94k0.015%
$ 336.7k
Gerard Sanacora
Member of Scientific Advisory Boardno datano datano data
3.8yrs
Average Tenure
66yo
Average Age

Experienced Board: BHVN's board of directors are considered experienced (3.8 years average tenure).

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/07/21 07:20
End of Day Share Price 2026/07/21 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Biohaven Ltd. is covered by 23 analysts. 16 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Brian SkorneyBaird
William PickeringBernstein
Dina RamadaneBofA Global Research