Piper Sandler Reiterates Overweight Rating on Biohaven Pharmaceutical Holding (BHVN)

Piper Sandler analyst Christopher J. Raymond reiterated an Overweight rating and $76.00 price target on Biohaven Pharmaceutical Holding (NYSE: BHVN).

The analyst commented, "Remain OW rated on BHVN shares and are now layering the opportunity for troriluzole in SCA into our model, which takes our price target to $76. With multiple failed P3 trials and an FDA-issued RTF on this drug’s resume, we - and we believe the vast majority of investors – had written troriluzole off completely. With today’s surprisingly robust and overwhelmingly positive outcome (stat sig improvement over two natural history controls on primary endpoint at years 1, 2 and 3, plus stat-sig improvement across 9 secondary endpoints), and with positive signals that FDA is on board with this approach and NDA filing next quarter, we see no choice but to model this opportunity with launch next year and US revenue going to $250M by 2030. Staying consistent with our valuation method, we are now buyers to levels approaching $76."

For an analyst ratings summary and ratings history on Biohaven Pharmaceutical Holding click here. For more ratings news on Biohaven Pharmaceutical Holding click here.

Shares of Biohaven Pharmaceutical Holding closed at $40.39 yesterday.

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