Biohaven Pharmaceutical Holding (BHVN) PT Raised to $144 at Mizuho Securities Following Review of Ex-Pfizer Collaboration

Mizuho Securities analyst Vamil Divan raised the price target on Biohaven Pharmaceutical Holding (NYSE: BHVN) to $144.00 (from $135.00) while maintaining a Buy rating after reviewing the details of the ex-US collaboration Biohaven announced with Pfizer.

The analyst commented, "We are updating our Biohaven model after reviewing the 8-K related to the ex-US collaboration Biohaven announced with Pfizer last week. We are making a number of model adjustments that are explained in more detail below and that increase our price target to $144 (from $135). As we mentioned last week (link), we believe the collaboration makes sense for both companies, given Biohaven has already displayed a strong ability to commercialize Nurtec in the US, while Pfizer's involvement should help maximize the ex-US opportunity that Biohaven would not have been able to capitalize on independently. We reiterate our Buy rating on Biohaven shares and expect upside from continued Nurtec outperformance and positive pipeline news flow."

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