Cantor Fitzgerald analyst Charles Duncan maintained a Buy rating on Biohaven Pharmaceutical Holding Co Ltd (NYSE: BHVN) today and set a price target of $57. The company’s shares opened today at $38.54.
“. This morning, Biohaven announced that it has submitted an IND for the intranasal form of BHV-3500, a second small molecule CGRP antagonist in its pipeline that is chemically distinct from its lead migraine drug, rimegepant. We believe this signals Biohaven’s conviction in the unmet need and this candidate as an even faster-acting potent small-molecule more appropriate for intranasal delivery, which can have greater appeal for migraine sufferers seeking fast-relief. Added to Biohaven’s portfolio of rime’ driven formulations, including tablet and ODT forms in late-stage development for both acute and preventative settings, we believe BHV-3500 adds longer-term value creation for the company.”
According to TipRanks.com, Duncan is a 3-star analyst with an average return of 3.2% and a 48.1% success rate. Duncan covers the Healthcare sector, focusing on stocks such as Deciphera Pharmaceuticals Inc, ACADIA Pharmaceuticals Inc, and Corcept Therapeutics Inc.
Biohaven Pharmaceutical Holding Co Ltd has an analyst consensus of Strong Buy, with a price target consensus of $49.33, representing a 28.0% upside. In a report released yesterday, Morgan Stanley also maintained a Buy rating on the stock with a $45 price target.
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 330.4K.
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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.