Analysts Are Bullish on These Healthcare Stocks: Biohaven Pharmaceutical Holding Co Ltd (BHVN), Novan Inc (NOVN)


There’s a lot to be optimistic about in the Healthcare sector as 2 analysts just weighed in on Biohaven Pharmaceutical Holding Co Ltd (BHVN) and Novan Inc (NOVN) with bullish sentiments.

Biohaven Pharmaceutical Holding Co Ltd (BHVN)

Cantor Fitzgerald analyst Charles Duncan maintained a Buy rating on Biohaven Pharmaceutical Holding Co Ltd today and set a price target of $65. The company’s shares opened today at $40.61, close to its 52-week high of $44.28.

Duncan noted:

“We rate BHVN Overweight. For the next ~12 mos, we see Biohaven’s rimegepant in acute migraine as the key driver of shareholder value. Valuation Summary We use a discounted NPV revenue calculation that yields ~$47 for rime’ in acute migraine, and ~$18 for pipeline placeholders. The Disclosure Section may be found on pages 3 – 4.Valuation In valuing BHVN, we used a discounted NPV revenue calculation that yields ~$47 for rime’ in acute migraine and ~$18 for pipeline placeholders ($750M total NPV for rime’ in preventative migraine, ‘3500 in acute migraine and glutamate platform candidates).”

According to TipRanks.com, Duncan is a 1-star analyst with an average return of -1.2% and a 42.0% success rate. Duncan covers the Healthcare sector, focusing on stocks such as KalVista Pharmaceuticals Inc, ACADIA Pharmaceuticals Inc, and Corcept Therapeutics Inc.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Biohaven Pharmaceutical Holding Co Ltd with a $56 average price target, which is a 37.9% upside from current levels. In a report released today, Oppenheimer also maintained a Buy rating on the stock with a $63 price target.

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Novan Inc (NOVN)

In a report released today, Oren Livnat from H.C. Wainwright reiterated a Buy rating on Novan Inc, with a price target of $6. The company’s shares opened today at $1.43, close to its 52-week low of $1.29.

Livnat noted:

“Our $6 12-month target (from $8) is based on a probability of success (POS) weighted DCF. We assume SB206 (topical NO for molluscum) and SB204 (topical NO for acne) are approved in 2H21, and the company commercializes both products itself, and they achieve peak U.S. sales of $260M and $190M, respectively. We do not include any other pipeline contribution yet, or any potential ex-US partnership revenue. We project Novan profitability in 2023. Our DCF reflects a 12.5% WACC discount rate, and negative 4% terminal growth beyond 2028.”

According to TipRanks.com, Livnat is a 1-star analyst with an average return of -2.7% and a 44.9% success rate. Livnat covers the Healthcare sector, focusing on stocks such as Zynerba Pharmaceuticals, Pacira Pharmaceuticals, and Jazz Pharmaceuticals.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Novan Inc with a $6 average price target.

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