In a report released today, Charles Duncan from Cantor Fitzgerald reiterated a Buy rating on Biohaven Pharmaceutical Holding Co Ltd (BHVN), with a price target of $65. The company’s shares opened today at $36.15.
“. We reiterate our Overweight rating and raise our PT to $65 from $55 on shares of BHVN. This morning, Biohaven announced positive topline data from a P3 trial with the ODT formulation of rimegepant, demonstrating that the PK benefit of a faster Tmax translated to therapeutic benefit of more rapid onset for ODT rime’ vs the tablet. These results exceed our expectations because, although the PK set-up was positive, we had been concerned that the ability to differentiate clinically may have been a challenge. Therefore, our base case was the ODT version of rime’ was going to be simply a “convenience play”, not a “clinical efficacy play”.”
According to TipRanks.com, Duncan is a 1-star analyst with an average return of -0.8% and a 42.1% 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, implying a 54.9% upside from current levels. In a report issued on November 29, Piper Jaffray also reiterated a Buy rating on the stock.
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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 304.2K.
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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.