In a report released yesterday, Esther Rajavelu from Oppenheimer maintained a Buy rating on Biohaven Pharmaceutical Holding Co Ltd (BHVN), with a price target of $63. The company’s shares closed yesterday at $34.25.
Rajavelu said:
“BHVN reported 3Q earnings and provided an update on the clinical progress of key assets including rimegepant and troriluzole, and we note the quarter came in line with our expectations. Recall we recently launched coverage of BHVN with an Outperform rating and a $63 price target (on 11/12/18 at $38.92) partially based on under-the-radar troriluzole, as well as BHVN’s CGRP receptor antagonist platform with rimegepant in the lead. Management highlighted progress across its diversified pipeline of CNS assets, and timing of key catalysts remains in line with our expectations. We view the topline data from rimegepant long-term safety study for acute migraine treatment as the most important upcoming catalyst and anticipate a press release in 4Q18.”
According to TipRanks.com, Rajavelu is a 1-star analyst with an average return of -10.1% and a 9.1% success rate. Rajavelu covers the Healthcare sector, focusing on stocks such as Aerie Pharma, Teva Pharma, and KemPharm.
Currently, the analyst consensus on Biohaven Pharmaceutical Holding Co Ltd is a Strong Buy with an average price target of $53, which is a 54.7% upside from current levels. In a report issued on November 12, Leerink Partners also initiated coverage with a Buy rating on the stock with a $50 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 286.1K.
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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.
