Biohaven Ltd. Receives ‘Buy’ Rating Due to Promising Pipeline and Favorable Regulatory Progress

Biohaven Ltd. (BHVN – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Douglas Tsao from H.C. Wainwright reiterated a Buy rating on the stock and has a $54.00 price target.

Douglas Tsao has given his Buy rating due to a combination of factors surrounding Biohaven Ltd.’s promising pipeline and regulatory progress. The company is advancing its drug troriluzole, which is in Phase 3 development for obsessive-compulsive disorder (OCD) and has completed a mid-cycle review for its New Drug Application (NDA) with the FDA for treating spinocerebellar ataxia (SCA). The absence of an FDA advisory committee meeting and the priority review status with a PDUFA action date expected in the third quarter of 2025 suggest a favorable regulatory outlook.
Additionally, Biohaven is making strides with its BHV-1300 program, targeting Graves’ disease, with significant reductions in IgG levels observed, which could be impactful in treating this condition. The company’s strategic focus on Graves’ disease, along with its ongoing development of BHV-7000 for major depressive disorder (MDD) and focal epilepsy, underscores a robust and diversified pipeline. These developments, coupled with the potential commercial launch of troriluzole in 2025, contribute to the positive outlook and Buy rating for Biohaven’s stock.

In another report released yesterday, Morgan Stanley also reiterated a Buy rating on the stock with a $63.00 price target.