Robert W. Baird analyst Brian Skorney maintained a Buy rating on Biohaven Ltd. (BHVN – Research Report) on January 8 and set a price target of $58.00.
Brian Skorney has given Biohaven Ltd. a Buy rating due to a combination of factors related to the company’s clinical progress and pipeline expansion. Biohaven has demonstrated noteworthy advancements in existing programs and has initiated new ones, venturing into multiple medical conditions such as major depressive disorder (MDD), neuropathic pain, and amyloid-related ARIA. The company’s move to initiate Phase 2/3 trials in conditions like focal epilepsy and borderline personality disorder (BPD), and the rapid progression from proof-of-concept to planned Phase 2 trials for MDD, indicates a robust development strategy. Additionally, the impending data from the BHV-1300 IgG human trials is seen as a significant catalyst for the company’s value in 2024.
Moreover, Skorney highlights the potential of Biohaven’s degrader platform, which is seen as a key value driver for the company. The planned release of the BHV-1300 IgG data and the goal to file four Investigational New Drug (IND) applications in 2024 showcase the platform’s rapid development and flexibility. Biohaven’s innovative degrader programs, such as BHV-1600 for β1-AR autoantibody-driven cardiac disease, aim to improve upon existing treatments significantly. The development of BHV-1310, an even more advanced IgG degrader, further solidifies the company’s position in the biopharmaceutical industry and contributes to the rationale behind the Buy rating.
According to TipRanks, Skorney is an analyst with an average return of -1.4% and a 45.72% success rate. Skorney covers the Healthcare sector, focusing on stocks such as Sarepta Therapeutics, Biogen, and RegenXBio.
In another report released on January 9, BTIG also maintained a Buy rating on the stock with a $59.00 price target.
See today’s best-performing stocks on TipRanks >>
TipRanks tracks over 100,000 company insiders, identifying the select few who excel in timing their transactions. By upgrading to TipRanks Premium, you will gain access to this exclusive data and discover crucial insights to guide your investment decisions. Begin your TipRanks Premium journey today.
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:
