NAS10030,808+1.00%S&P7,723+0.73%GOLD$4,160−0.06%BTC$85,503+0.87%VIX15.31−6.59%live tape · as of 05:02 UTC
The Screen · Healthcare · Biotechnology
Biohaven Ltd.
BHVN · the NYSE · USD · Market cap $2.1B · 274 employees
Biohaven Ltd., a biopharmaceutical company, focuses on the discovery, development, and commercialization of treatments for immunology, neuroscience, and oncology therapeutic areas worldwide.
FAIL · Does not pass the screen
14.22 USD
Screen close, 2026-09-21 · not a live quote Last reviewed 14 days ago
Screened 2026-09-21 · the tape above runs as of 05:02 UTC · two dates, stated on purpose · verdict and workings shown in full · never trimmed
PRICE · FAIR-VALUE RANGE1M3M6MYTD1Y3Y5Y
What this means: price 14.22 against the desk's fair-value range, base estimate 20.00, over the last year.
Positioning no disclosures inside 60 days, left as found
Options no verdict drawn today, left as found
Ethical does not pass the values gate
Price14.22 USD
Fair value20.00
Ethical score70.0/100
Our investment reviews on this name
2026-10-02Read Distribution14.22+0.0% to today
2026-08-23Read Markdown14.39-1.2% to today ✓
2026-07-02Read Markup11.28+26.1% to today ✓
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Biohaven Ltd. holds its Distribution at $14.22. The statistical read favours the buyers, held for 5 days.
As held on the ledger · 2026-09-21
Phase
Distribution · caution
Quantitative state
The statistical read favours the buyers, held for 5 days
Price at the screen
$14.22
Valuation
N/A trailing · -6.42 forward price to earnings
Values screen
FAIL· score 70.0
Beta
3.17
The Workings
Five Screens, Shown in Full
Does not pass. Debt ratio
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
63.04%
Below 33%
Interest-bearing debt is 63.0% of its assets, above the one-third ceiling the screen allows.
Fail
Interest-bearing cash
19.75%
Below 33%
Cash held in interest-bearing accounts and securities is 19.8% of assets, under the one-third limit.
Pass
Receivables
50.94%
Below 49%
Money owed to the company is 50.9% of assets, above the 49% limit.
Fail
Revenue purity
Excluded
Below 5%
of revenue comes from non-compliant sources, over the 5% line.
Fail
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Falls Short, in Plain English
Biohaven's business is in a permissible area, but its interest-bearing debt is about 63% of the company, well over the ~33% line, so it does not pass on the financial screens. Its receivables are also high.
Read as at 2026-10-04. It updates when the underlying figures move, and past reads are kept below.
Fair value range in USD, drawn from the 2026-09-21 screen. The gold marker is the market price at the same screen. A 40.6% margin of safety to the base estimate.
Third-party analyst targets: 15 covering, consensus Buy. The average target sits +41% from the screen price.
Reading the gap · Both our model and the analysts see meaningful upside from here.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-09-21 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Biotech Pipeline Lacks Numbers and Ethical Clarity
Imagine betting on a lab that burns cash on every trial with no profits in sight. Biohaven develops treatments for immunology and oncology yet posts zero margins and returns on equity of minus three hundred thirty three per cent. The forward multiple sits at minus seven point nine times while the share price of fifteen dollars forty four sits below our calculated fair value.
Analysts like the story and set a median target near twenty dollars. We pass outright. The ethical screen returns insufficient data because basic financial ratios are missing, so no verdict on governance or long term impact is possible.
Without those details the apparent margin of safety stays unusable. Funding cycles in early stage biotech add further opacity that no consensus rating can fix. Analysis, not advice.
The risks · The things to watch: it already moves more than the market on an average day; as a biotechnology name, trial and regulatory outcomes can move it sharply either way; it carries a real debt load, which raises the stakes if revenue slips.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
BHVN trades on the NYSE. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The framework has shifted from markdown to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 1.2% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it B. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 35%. Our forward projection puts the odds of a 10% gain over the next month near 24%. The street (17 analysts) rates it buy, with a mean price target of $22. Since the last review it its composite score rose.
2026-08-23Markdown · changed$14.39-6.8%Entry 5
The framework has shifted from markup to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 6.8% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it C. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 35%. Our forward projection puts the odds of a 10% gain over the next month near 24%. The street (17 analysts) rates it buy, with a mean price target of $22.
2026-07-23Markup$15.44+36.9%Entry 4
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 36.9% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it C. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 35%. Our forward projection puts the odds of a 10% gain over the next month near 24%. The street (17 analysts) rates it buy, with a mean price target of $22.
2026-07-18Markup$11.28+0.0%Entry 3
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it C. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 35%. Our forward projection puts the odds of a 10% gain over the next month near 24%. The street (17 analysts) rates it buy, with a mean price target of $22.
2026-07-03Markup$11.28+0.0%Entry 2
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns.
2026-07-02Markup$11.28Entry 1
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
