Biohaven Ltd. ( (BHVN) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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Biohaven Ltd.’s stock has experienced a downturn following the FDA’s decision to extend the PDUFA date for troriluzole, a promising treatment for spinocerebellar ataxia, by three months. This extension is to ensure a thorough review of recent submissions, although no new concerns have been raised. Despite the drug’s fast-track and orphan drug designations, the company’s cash burn and recent financing activities have led RBC Capital to lower its price target from $61 to $54, while still maintaining an Outperform rating. Investors are looking forward to 2025, which is expected to be significant with several phase 3 programs on the horizon that could influence share prices.
More about Biohaven Ltd.
YTD Price Performance: -47.67%
Average Trading Volume: 1,617,737
Technical Sentiment Signal: Sell
Current Market Cap: $2.1B
For further insights into BHVN stock on TipRanks’ Stock Analysis page.
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