Biohaven initiated with a Buy at BTIG

BTIG analyst Thomas Shrader initiated coverage of Biohaven with a Buy rating and $24 price target. Biohaven is a clinical-stage neuroscience drug development company with multiple ongoing clinical trials "that could be registrational or broadly de-risking," Shrader tells investors in a research note. The company has an "experienced team with a collection of assets that all ‘make sense’ coupled with a valuation significantly below stories with fewer promising irons in the fire," Shrader writes.