Biohaven Pharmaceutical Holding Company Ltd. (BHVN Quick QuoteBHVN - Free Report) shares rallied 8.5% in the last trading session to close at $71.35. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 16.4% loss over the past four weeks.

The company reported preliminary net product revenue of $43.8 million for Nurtec ODT (rimegepant) in the first quarter of 2021, while total prescriptions of Nurtec ODT as of Mar 31, 2021 were over 500,000, with over 30,000 unique prescribers. This might have been driving the rally.

Price and Consensus

This company is expected to post quarterly loss of $2.96 per share in its upcoming report, which represents a year-over-year change of -23.9%. Revenues are expected to be $39.61 million, up 3344.7% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

For Biohaven Pharmaceutical Holding Company Ltd., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on BHVN going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank 3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>