Not a good buy right now for an impatient trader: the tape is still bearish (negative/expanding MACD, bearish MA stack) and price is trading below the key pivot (12.456).
Near-term setup is a support-test, not a confirmed reversal: pre-market ~11.4 is sitting just above S1 (11.261); a breakdown opens room toward S2 (10.523).
Bullish positives (heavy insider buying + bullish options positioning) are constructive, but without a reversal trigger or Intellectia signals, the risk/reward is not compelling for an immediate entry.
Momentum: MACD histogram is -0.163 and negatively expanding → downside momentum is strengthening, not fading.
RSI: RSI(6) ~30.36 (borderline oversold/low) → a bounce is possible, but RSI alone is not a buy signal while MACD/MA trend remain bearish.
Key levels:
Resistance: Pivot 12.456, then R1 13.65.
Support: S1 11.261 (very close), then S2 10.523.
Interpretation for “buy now”: You’d want at least a reclaim/hold above ~12.46 to confirm reversal; at ~11.4 you’re still buying into a downtrend at support.
Options Data
Bullish
Open Interest Put-Call Ratio
Bullish
Option Volume Put-Call Ratio
Positioning/Sentiment: Put/Call ratios (OI 0.45, volume 0.36) are call-heavy → options market is leaning bullish/speculative.
Volatility: IV30 ~123.6 vs historical vol ~180.9; IV percentile ~77 → options are priced with elevated volatility (market expects big moves).
Flow intensity: Today’s volume (10,805) is ~91% of 30-day average; today’s OI vs avg ~123% → participation/positioning remains active.
Takeaway: Options sentiment is constructive, but it’s consistent with a high-vol biotech where direction can still be down; it’s not confirming a technical trend reversal.
Technical Summary
Sell
7
Buy
5
Positive Catalysts
Pipeline optionality: Market focus appears to be on upcoming epilepsy (focal onset seizures) data in 1H 2026, which could be a major re-rating event if positive.
Neutral/Negative Catalysts
Technical damage: Bearish MA structure + weakening MACD momentum suggests sellers still control the trend.
Event overhang / credibility: Recent clinical disappointment (BHV-7000 MDD miss) and prior regulatory setback (CRL referenced in analyst notes) have reduced confidence.
Catalyst timing mismatch for impatience: The next major potential catalyst cited by Street commentary centers around 1H 2026, which is not near-term.
No fresh news this week: Lack of new catalysts can allow the prevailing downtrend to persist.
Financial Performance
Latest quarter: 2025/Q3
Revenue: 0 (no YoY growth indicated).
Net income: -$173.4M (loss narrowed ~8.2% YoY, but still deeply negative).
EPS: -1.64 (worse by ~3.53% YoY).
Takeaway: Financials reflect a development-stage biotech profile—limited/zero revenue and ongoing large losses; improvements are not yet a clear growth trend.
Growth
Profitability
Efficiency
Analyst Ratings and Price Target Trends
Recent trend: Ratings/targets have been volatile and mixed.
Bearish/neutral moves: UBS downgraded to Neutral (PT $11); H.C. Wainwright downgraded to Neutral (PT $11) citing “fewer ways to win.”
Mixed-to-positive: Citi maintained Buy (PT $14) even after MDD miss; JPM kept Overweight but cut PT to $15; Morgan Stanley kept Overweight but cut PT.
Bullish standout: RBC upgrade to Outperform with PT $22, arguing risk profile improved and valuation discount is compelling.
Wall Street pros: Some believe worst-case risk is reduced and the setup into 2026 catalysts is attractive (RBC), with selective Buys intact (Citi, some Overweights).
Wall Street cons: Multiple setbacks, competitive disadvantage vs Xenon in Kv7 timeline/efficacy perceptions, and need for “clear wins” to re-establish confidence (UBS/Wainwright).
Wall Street analysts forecast BHVN stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for BHVN is 15.09 USD with a low forecast of 9 USD and a high forecast of 30 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
14 Analyst Rating
Wall Street analysts forecast BHVN stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for BHVN is 15.09 USD with a low forecast of 9 USD and a high forecast of 30 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
8 Buy
6 Hold
0 Sell
Moderate Buy
Current: 10.760
Low
9
Averages
15.09
High
30
Current: 10.760
Low
9
Averages
15.09
High
30
Goldman Sachs
NULL
to
Buy
initiated
$23
AI Analysis
2026-02-05
New
Reason
Goldman Sachs
Price Target
$23
AI Analysis
2026-02-05
New
initiated
NULL
to
Buy
Reason
Goldman Sachs initiated coverage of Biohaven with a Buy rating and $23 price target. The clinical-stage biotechnology company has an "extensive pipeline," notes the analyst, who views the opportunity for BHV-1400 in IgA nephropathy as "the central driver for the stock." The firm views the clinical data to-date as early and limited, but "compelling" for BHV-1400, whose potentially differentiated profile could allow for "significant market share" in a larger than $40B U.S. market.
RBC Capital
Sector Perform -> Outperform
upgrade
$9 -> $22
2026-01-21
Reason
RBC Capital
Price Target
$9 -> $22
2026-01-21
upgrade
Sector Perform -> Outperform
Reason
RBC Capital upgraded Biohaven to Outperform from Sector Perform with a price target of $22, up from $9. The stock's reward/risk is "more compelling" following Biohaven's recent data, the analyst tells investors in a research note. The firm believes the data "take the worst-case scenario off the table and changes the risk profile of a key upcoming catalyst." In addition, Biohaven's degrader updates highlight the platform's potential in both Graves disease and IgA Nephropathy, contends RBC. The firm says the company's improved financial position and valuation discount relative to the platform's opportunity "creates a compelling setup" into the second half of 2026 catalysts.
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