Morgan Stanley analyst Terence Flynn has maintained their bullish stance on BHVN stock, giving a Buy rating today.
Terence Flynn has given his Buy rating due to a combination of factors related to Biohaven Ltd.’s recent developments and future prospects. The company has shown promising results with its BHV-1300 IgG degrader, achieving significant reductions in total IgG levels in a Phase 1 study. This aligns with benchmarks set by similar treatments like ARGX’s Vyvgart, which is already approved for certain conditions. The safety profile of BHV-1300 is also favorable, with no serious adverse effects reported, which adds confidence to its potential success.
Furthermore, Biohaven Ltd. is planning to advance its pipeline with a Phase 2 trial for BHV-1300 in Graves’ disease by mid-2025 and has ongoing preclinical testing for BHV-1310. These strategic plans indicate a robust pipeline that could contribute significantly to the company’s future revenue. Despite mixed results from other parts of their pipeline, the positive developments and strategic direction for BHV-1300 and BHV-1310 underpin Flynn’s optimistic outlook on the stock.
According to TipRanks, Flynn is a 4-star analyst with an average return of 5.6% and a 54.89% success rate. Flynn covers the Healthcare sector, focusing on stocks such as BioNTech SE, Vertex Pharmaceuticals, and Gilead Sciences.