Leerink Partners analyst Marc Goodman has maintained their bullish stance on BHVN stock, giving a Buy rating on February 11.
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Marc Goodman has given his Buy rating due to a combination of factors including the FDA’s acceptance of Biohaven Ltd.’s NDA for troriluzole in treating spinocerebellar ataxia, which represents a significant milestone for the company. The priority review granted by the FDA indicates a decision is anticipated within six months, showcasing the drug’s potential expedited path to approval.
Furthermore, the positive data from real-world evidence, showing a substantial slowing in disease progression, and the regulatory precedent for NDA approval based on such evidence, highlight the drug’s promise. In addition, the high unmet need in this therapeutic area, with no approved treatments currently available, enhances the opportunity for Biohaven. The stock’s recent rise reflects increased investor confidence, driven by the reduced risk associated with the NDA acceptance, making it a compelling investment prospect.
Goodman covers the Healthcare sector, focusing on stocks such as Biohaven Ltd., Axsome Therapeutics, and ACADIA Pharmaceuticals. According to TipRanks, Goodman has an average return of 6.1% and a 46.67% success rate on recommended stocks.
In another report released on February 11, Morgan Stanley also maintained a Buy rating on the stock with a $69.00 price target.