Biohaven Ltd. (BHVN – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst on May 13. Analyst Marc Goodman from Leerink Partners reiterated a Buy rating on the stock and has a $60.00 price target.
Confident Investing Starts Here:
- Quickly and easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter
Marc Goodman has given his Buy rating due to a combination of factors that highlight Biohaven Ltd.’s promising outlook. The company has successfully completed a mid-cycle review meeting with the FDA for its troriluzole treatment in spinocerebellar ataxia (SCA), with regulatory inspections completed and timelines for potential approval reaffirmed. This progress is seen as positive, especially amidst investor concerns about potential changes in FDA leadership affecting the approval process.
Furthermore, Biohaven has maintained its projected timelines for the development of its Kv7 asset (BHV-7000) targeting major depressive disorder and focal onset seizures, with key readouts expected in the latter half of 2025 and the first half of 2026. The company’s financial position is robust, with approximately $518 million in cash, bolstered by a $250 million capital agreement with Oberland Capital. These factors contribute to a positive outlook, supporting the Buy rating.
In another report released yesterday, H.C. Wainwright also reiterated a Buy rating on the stock with a $54.00 price target.
Based on the recent corporate insider activity of 14 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of BHVN in relation to earlier this year.