Biohaven initiated with a Buy at UBS

UBS initiated coverage of Biohaven with a Buy rating and $59 price target. Biohaven is a clinical stage biotech with a broad set of pipeline opportunities across multiple therapy areas, the analyst tells investors in a research note. The firm is bullish on the pipeline and believes Phase 1 BHV-1300 data in Q1 and the Phase 3 Spinal muscular atrophy readout in the second half of 2024 are positive catalysts with favorable risk/rewards.