Biohaven Pharmaceutical Holding Co Ltd (BHVN) Receives a Buy from Cantor Fitzgerald


In a report released today, Charles Duncan from Cantor Fitzgerald maintained a Buy rating on Biohaven Pharmaceutical Holding Co Ltd (NYSE: BHVN), with a price target of $57. The company’s shares opened today at $37.23.

Duncan observed:

“We rate BHVN Overweight. For the next ~12 mos, we see Biohaven’s rimegepant in acute migraine as the key driver of shareholder value. Recent P3 data in acute treatment of EM demo’d favorable efficacy & safety relative to a likely competitor, & we see ongoing P3 w/ a rime’-ODT as another differentiator. Additionally, rime’ (as tablets) may be well-suited for the prevention market & durability seen in acute trials points to this upside potential. Finally, & acknowledging less clinical PoC as support, Biohaven’s glutamate pipeline presents multiple new clinical-stage oppy’s that we believe are currently underappreciated.”

According to TipRanks.com, Duncan is a 4-star analyst with an average return of 4.0% and a 51.6% 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 $51.60 average price target.

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Based on Biohaven Pharmaceutical Holding Co Ltd’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $39.27 million. In comparison, last year the company had a GAAP net loss of $42.92 million.

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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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