William Blair analyst Myles Minter has maintained their bullish stance on BHVN stock, giving a Buy rating today.
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Myles Minter has given his Buy rating due to a combination of factors that suggest potential for Biohaven Ltd.’s future growth despite recent setbacks. The company received a Complete Response Letter from the FDA for its drug Vyglxia, which was disappointing; however, Biohaven is taking strategic steps to address the issues raised, including restructuring to significantly reduce R&D costs and focusing on pipeline priorities.
Furthermore, the company has promising data updates expected in the coming years, such as the Phase II data of opakalim in depression. Although the stock experienced a decline following the FDA’s response, the long-term potential for disease-modifying treatments and the absence of liver toxicity in their trials present a compelling case for future success. Minter’s rating reflects confidence in Biohaven’s ability to navigate regulatory challenges and capitalize on its innovative pipeline.
According to TipRanks, Minter is a 5-star analyst with an average return of 29.1% and a 59.85% success rate. Minter covers the Healthcare sector, focusing on stocks such as Ionis Pharmaceuticals, Arcturus Therapeutics, and Biogen.
In another report released today, TD Cowen also maintained a Buy rating on the stock with a $15.00 price target.