In a report released yesterday, Thomas Shrader from BTIG maintained a Buy rating on Biohaven Ltd. (BHVN – Research Report), with a price target of $37.00.
Thomas Shrader has given his Buy rating due to a combination of factors related to Biohaven Ltd.’s confidence and progress in its various programs. Most notably, Shrader focuses on the promising developments of the BHV-1300 program, which uses a unique therapeutic approach to drive targeted degradation of intracellular proteins. The early data from this program seemed promising and potentially indicative of its future success. Furthermore, the anticipated submission of an Investigational New Drug (IND) application for BHV-1300 by the end of 2023 is a strong positive signal for the company. This submission, if successful, could pave the way for further research and trials, particularly in the field of rheumatoid arthritis (RA), where the company intends to conduct a significant study.
Shrader also recognizes the potential of Biohaven’s other programs, particularly the BHV-7000 franchise, which is set to initiate pivotal trials for focal epilepsy and bipolar disorder. The company’s confidence in the broad applicability of BHV-7000 further strengthens its position. The forthcoming Phase 3 epilepsy study is also seen as a potential upside for Biohaven’s stock. Moreover, Shrader highlights the recent completion of enrollment for the P3 RESILIENT study in Spinal Muscular Atrophy (SMA) patients as an encouraging step. From a financial perspective, Shrader acknowledges the company’s high operating expenses and net loss, but believes that potential partnership deals with the aforementioned programs can help offset these costs.
Shrader covers the Healthcare sector, focusing on stocks such as Inmune Bio, Acumen Pharmaceuticals, and Aldeyra Therapeutics. According to TipRanks, Shrader has an average return of -3.6% and a 32.24% success rate on recommended stocks.
In another report released on November 15, Piper Sandler also maintained a Buy rating on the stock with a $36.00 price target.
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Biohaven Ltd. (BHVN) Company Description:
Biohaven Ltd is a commercial-stage biopharmaceutical company with a portfolio of innovative therapies to improve the lives of patients with debilitating neurological and neuropsychiatric diseases, including rare disorders. Biohaven’s Neuroinnovation portfolio includes FDA-approved Nurtec ODT (rimegepant) for the acute and preventive treatment of migraine (EMA-approved as Vydura (rimegepant) for the acute treatment of migraine with or without aura, and prophylaxis of episodic migraine.
Read More on BHVN:
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