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Biohaven Ltd (BHVN) fair value: what the stock is really worth

As of Nov 10, 2026: fair value (intrinsic value) of Biohaven Ltd stock $7.24, price $15.11, that is 52.1% below the price, quality 29 out of 100. Rating: strongly overvalued. The value is an estimate: none of our valuation models currently carries, it draws on revenue and assets compared with similar companies. Updated daily.

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Healthcare US · ISIN VGG1110E1079

BL Biohaven Ltd logo Thin data Nov 10, 2026

Biohaven Ltd

BHVN · US
Very expensive, weak quality

Our calculation puts a fair price 52% below what the stock costs today.

Negative equity (buybacks among others)
Mixed vs. peers (2/5)
Fair value $7.24 · Strongly overvalued
Quality 29/100
Weak Growth
Negative free cash flow
Narrow moat 18/100 · thin data
Negative coverage
Thin data
Estimate
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

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Price vs Fair Value

$59.75 $6.16 Fair Value $7.24 Sep 2022 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 10, 2026.

How to read this chart

50‑month range $6.16 – $59.75 · fair‑value band $5.43 – $9.05 · the $15.11 price screens above the $7.24 fair value. As of Nov 10, 2026.

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Company profile

Biohaven Ltd., a biopharmaceutical company, focuses on the discovery, development, and commercialization of treatments for immunology, neuroscience, and oncology therapeutic areas worldwide.

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It develops BHV-1300, which is in Phase 2 clinical trial to treat Graves' disease and rheumatoid arthritis; BHV-1400 that is in Phase 2 clinical trial for treating IgA nephropathy; BHV-1600, which is in Phase 1 clinical trial for the treatment of peripartum cardiomyopathy; BHV-8000 that is in Phase 3 clinical trial for treating Parkinson's disease; Opakalim, which is in Phase 3 clinical trial for the treatment of focal epilepsy; BHV-2100 that is in Phase 2 clinical trial for the treatment of pain disorders; and BHV-2000, which is in Phase 2 clinical trial for treating obesity.

The company is also developing BHV-1510 that is in Phase 2 clinical trial for the treatment of advanced or metastatic epithelial tumors; and BHV-1530, which is in Phase 2 clinical trial for treating urothelial cancer and other tumors.

In addition, its preclinical product pipeline includes BHV-1310 for treating myasthenia gravis; BHV-1320 for treating immune mediated-diseases; BHV-1450 for treating Pemphigus, MuSK MG, and LGI-1 Encephalitis; BHV-1420 for treating membranous nephropathy; BHV-1440 for treating Graves' disease and TED; BHV-6500 for treating type 1 diabetes; BHV-1490 for treating IgM neuropathy and Waldenstrom's; BHV-8100 for treating neurodegenerative diseases; and BHV-1955 for treating tinnitus.

The company was formerly known as Biohaven Research Ltd. and changed its name to Biohaven Ltd. in September 2022. Biohaven Ltd. was incorporated in 2022 and is headquartered in New Haven, Connecticut.

Stock analysis

Biohaven Ltd (BHVN) currently trades at $15.11, while our estimate is $7.24, 52% below the price, so the stock looks overvalued today.

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Valuation

None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Scenario range: $5.43 (bear) to $9.05 (bull), the price of $15.11 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 29/100 (below-average quality), in the Healthcare sector.

Weak Growth: Revenue growth is weak, negative or inconsistent.

Biohaven Ltd reported revenue of $0 in FY2025 versus $463M in FY2021. Reported net income was −$739M in FY2025.

Key figures

Market cap $2.3B Mid · EPS (TTM) $−3.77 · Return on equity −799% · Return on assets (EBIT) −127% (5-year average) · Free cash flow −$610M · Net debt $54.7M.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 18 out of 100 (low confidence).

What moves the price

The share trades about 11% below its 52-week high and 94% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Healthcare peers we cover trades at −7% fair-value upside, at −52%, BHVN screens richer than that median.

Fair Value

Bear $5.43 Fair Value $7.24 Bull $9.05
Price $15.11 · Downside -52.1%
Estimate. None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Quality Score breakdown

Overall quality 29/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 0
How much profit the company makes from its sales and capital
Quality Growth 25
Are margins and returns getting better?
Cashflow 22
Do the profits arrive as real cash?
Financial strength 51
Debt, balance sheet and risk of trouble
Investment 100
Does it invest with discipline instead of growing at any price?
Low Volatility 0
How calm the share price moves, does not count
Price momentum 84
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 90
Distance to the 52-week high, does not count
New shares 0
Buys back shares or issues new ones?

Open the full quality analysis →

Insider trades

In the last 6 months, no officer or director bought or sold shares on the open market.

  • BuyGeorge C. ClarkVP, Chief Accounting Officer17,000 shares at $8.52$144,840Nov 17, 2025
  • BuyJohn W ChildsDirector3,333,333 shares at $7.50$25.0MNov 13, 2025
  • BuyVlad CoricChief Executive Officer, Director666,666 shares at $7.50$5.0MNov 13, 2025
  • BuyGregory BaileyDirector400,000 shares at $7.50$3.0MNov 13, 2025

Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.

Source: SEC Form 4, as of Nov 10, 2026. All filings at the SEC ↗

Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 0/100
Revenue growth is weak, negative or inconsistent.
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

BHVN screens overvalued: fair value 52% below the price. Compare with Vertex Pharmaceuticals Incorporated →

Recent news

News mood ⓘNews mood, the average tone of recent news (95 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation. Negative
Recent news coverage is more negative than average.

Compare Biohaven Ltd with another stock

Price, fair value, quality and upside side by side.

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Biotechnology · 849 stocks

Beats the industry median on 2/5 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 29 · Bottom 25%
Fair Value upside −52.1% · Bottom 25%
Profitability
Return on equity (12 months) Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
Return on assets −163.7% · Bottom 25%
Operating margin (12 months) 0.0% · Above median
Growth and dividend
Revenue growth (quarter YoY) 0.0% · Above median
Balance sheet
Debt / equity Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.

Valuation Multiplesvs Biotechnology median · lower = cheaper

P/B Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Biotechnology stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Regeneron Pharmaceuticals, Inc REGN $916.06 $1,275 +39% vs BHVN
Samsung Biologics Co 207940 1,468,000 KRW 1,661,000 KRW +13% vs BHVN
Vertex Pharmaceuticals Incorporated VRTX $547.89 $601.80 +10% vs BHVN
Genmab A/S GMAB kr 3,581 kr 3,880 +8% vs BHVN
argenx SE ARGX $971.55 $908.40 −7% vs BHVN
CSL Limited CSL A$201.68 A$181.40 −10% vs BHVN
Moderna, Inc MRNA $250.83 $158.70 −37% vs BHVN
BeOne Medicines AG 6160 HK$252.20 HK$152.80 −39% vs BHVN
Celltrion, Inc 068270 203,000 KRW 74,945 KRW −63% vs BHVN
Royalty Pharma plc RPRX $69.45 $19.01 −73% vs BHVN

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Biohaven Ltd: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Biohaven Ltd Fair Value". https://www.fairvalue-calculator.com/stock/BHVN

Frequently asked questions

Is Biohaven Ltd (BHVN) overvalued or undervalued?
As of Nov 10, 2026, our estimate of fair value is $7.24 versus a price of $15.11, about 52% lower (overvalued).
What is the fair value of BHVN?
Our estimate for Biohaven Ltd is $7.24 (as of Nov 10, 2026), built from audited fundamentals. The current price: $15.11.
What is the quality score of BHVN?
Biohaven Ltd has a Quality Score of 29/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Biohaven Ltd (BHVN)?
Our calculated price target is the estimate of $7.24 (as of Nov 10, 2026). Cautious scenario $5.43, optimistic scenario $9.05. It is an estimate from revenue and assets compared with similar companies, because none of our valuation models currently carries, not an analyst target.
What is the Biohaven Ltd stock forecast for 2026?
Our estimate puts fair value at $7.24, about 52% lower versus a price of $15.11 (overvalued). Cautious scenario $5.43, optimistic scenario $9.05. The calculation is refreshed regularly with new filings.
What is the intrinsic value of Biohaven Ltd (BHVN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Biohaven Ltd it is $7.24 per share (as of Nov 10, 2026), against a price of $15.11.
Is Biohaven Ltd stock overvalued or undervalued in 2026?
As of Nov 10, 2026, BHVN trades above its calculated fair value: price $15.11, fair value $7.24, a gap of about −52% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of BHVN?
No. The price is what the market pays today ($15.11); the fair value is what the company's own numbers justify ($7.24). For Biohaven Ltd the two are $7.87 per share apart. That gap is exactly why we show both numbers side by side.
How much is Biohaven Ltd worth?
The market values Biohaven Ltd at about $2.3B (market capitalisation, as of Nov 10, 2026). Per share that is $15.11; our models calculate a fair value of $7.24 per share.
What do the bullish and bearish scenarios say about BHVN?
Our models span a range for Biohaven Ltd: cautious scenario $5.43, base $7.24, optimistic $9.05 per share (as of Nov 10, 2026, price $15.11). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Biohaven Ltd (BHVN)?
Balance-sheet figures for Biohaven Ltd (as of Nov 10, 2026): negative equity, so no return on equity and no debt-to-equity ratio. They feed the Quality Score of 29/100, which measures business quality independently of the share price.
How far is BHVN from its 52-week high?
Biohaven Ltd trades at $15.11, about 11% below its 52-week high of $16.95 and 94% above the low of $7.79 (as of Nov 10, 2026). Distance from the high says nothing about value: that is what the fair value of $7.24 is for.
Which stocks are comparable to Biohaven Ltd?
From the same area (Healthcare) we also value Vertex Pharmaceuticals Incorporated, Moderna, Inc, Regeneron Pharmaceuticals, Inc, CSL Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Biohaven Ltd stock attractive at the current price?
The data as of Nov 10, 2026: price $15.11, calculated fair value $7.24 (−52%), Quality Score 29/100. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
Is it still worth investing in stocks now?
The global stock market currently sits 15.1% above its aggregate fair value. Biohaven Ltd itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Biohaven Ltd (BHVN)?
The closing price on Nov 10, 2026 was $15.11. Our estimate is $7.24, about 52% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Biohaven Ltd right now?
The price sits above even our optimistic bull case ($9.05). The favourable scenario is already priced in. Weak quality (29/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.

Key figures of Biohaven Ltd

How large is the market capitalisation of Biohaven Ltd (BHVN)?
The market capitalisation of Biohaven Ltd is $2.3B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What are the earnings per share of Biohaven Ltd (BHVN)?
Earnings per share at Biohaven Ltd are $−3.77. Earnings per share over the last twelve months: total profit spread across every single share.
What is the return on equity of Biohaven Ltd (BHVN)?
The return on equity (ROE) of Biohaven Ltd is −799% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Biohaven Ltd (BHVN)?
On an EBIT basis the return on assets of Biohaven Ltd is −127% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
How much free cash flow does Biohaven Ltd (BHVN) generate?
The free cash flow of Biohaven Ltd is −$610M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Biohaven Ltd (BHVN) carry?
The net debt of Biohaven Ltd is $54.7M (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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