Biohaven Pharmaceutical Holding Co Ltd (BHVN) Gets a Buy Rating from Oppenheimer


Biohaven Pharmaceutical Holding Co Ltd (BHVN) received a Buy rating and a $63 price target from Oppenheimer analyst Esther Rajavelu today. The company’s shares opened today at $38.78.

Rajavelu noted:

“We are initiating coverage of BioHaven Pharmaceuticals (BHVN) with an Outperform rating and $63 price target. While the primary focus remains on the company’s migraine pipeline, the stock offers multiple value drivers that we believe are not reflected at current trading levels. Our Outperform thesis is partially based on BHVN’s under-the-radar glutamate platform with two late stage assets, as well as its CGRP receptor antagonist platform with rimegepant in the lead. We acknowledge the competitive market dynamics surrounding these mechanisms, but believe BHVN is pursuing indications in large therapeutic areas that can accommodate multiple players. We like the diversified portfolio and management’s clinical strategy, and note clarity on the commercial front could become important as BHVN’s pipeline nears regulatory milestones.”

According to TipRanks.com, Rajavelu is a 1-star analyst with an average return of -7.8% and a 44.4% success rate. Rajavelu covers the Healthcare sector, focusing on stocks such as Aerie Pharma, Teva Pharma, and KemPharm.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Biohaven Pharmaceutical Holding Co Ltd with a $52 average price target.

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The company has a one-year high of $44.28 and a one-year low of $16.50. Currently, Biohaven Pharmaceutical Holding Co Ltd has an average volume of 281.2K.

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Biohaven Pharmaceutical Holding Co. Ltd. is a clinical-stage biopharmaceutical company, which engages in the research and development of late-stage product candidates targeting neurological diseases, including rare disorders.

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