Biohaven Ltd. (BHVN – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst on May 12. Analyst Marc Goodman from Leerink Partners maintained a Buy rating on the stock and has a $55.00 price target.
Marc Goodman has given his Buy rating due to a combination of factors including the recent financial report and the potential of Biohaven Ltd.’s pipeline programs. Despite the recent underperformance of Biohaven’s stock, which has been attributed to declining expectations for their degrader program announcement, Goodman remains optimistic. He acknowledges the anticipation surrounding the efficacy and safety of the new mechanism, which is expected to be comparable to FcRn inhibitors without liver toxicity, and also sees value in the Kv7 franchise as well as other minimally recognized programs. Goodman’s stance is to look beyond the stock’s short-term volatility and maintain patience with the company’s progress.
Moreover, Goodman’s confidence is bolstered by the management’s steadfast view on the expected IgG reduction capabilities of BHV-1300, as preliminary data aligns with non-clinical models. Although the investment community’s expectations for data disclosure may have outpaced the company’s timeline, Biohaven’s communication of a planned update that will provide safety and pharmacodynamic information supports Goodman’s recommendation. With comprehensive data expected in the latter half of 2024, he believes that now is an opportune time to invest in Biohaven Ltd., ahead of these key developments.
In another report released yesterday, H.C. Wainwright also assigned a Buy rating to the stock with a $59.00 price target.
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:
