Biohaven price target raised to $60 from $58 at Baird

Baird raised the firm’s price target on Biohaven to $60 from $58 and keeps an Outperform rating on the shares. Following Monday’s results for troriluzole in SCA vs. propensity-matched natural history, Baird sees a valuable additional leg, should the FDA find this approvable, and the firm remains bullish on Biohaven shares, the analyst tells investors in a research note. However, Baird notes an “uphill battle” given that Biohaven will have to convince the FDA that the propensity-matched analysis should be weighed more heavily than the placebo-controlled study, which showed minimal change at one year.