J.P. Morgan analyst Tessa Romero has maintained their bullish stance on BHVN stock, giving a Buy rating yesterday.
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Tessa Romero’s rating is based on several key factors that highlight the potential of Biohaven Ltd.’s stock. Despite the FDA’s extension of the PDUFA date for troriluzole in treating spinocerebellar ataxia (SCA), the company has shown resilience by successfully addressing all information requests from the FDA in a timely manner. This demonstrates Biohaven’s commitment to regulatory compliance and its ability to navigate complex approval processes.
Furthermore, the company’s management views the upcoming Advisory Committee meeting as a positive step, given the favorable benefit-risk profile of troriluzole. This optimism is supported by the promising results from pivotal studies, which form the basis of the New Drug Application. These factors, combined with Biohaven’s proactive engagement with regulatory bodies, underpin Tessa Romero’s Buy rating, suggesting confidence in the company’s strategic direction and potential for future growth.
Romero covers the Healthcare sector, focusing on stocks such as Cytokinetics, ACADIA Pharmaceuticals, and Dyne Therapeutics. According to TipRanks, Romero has an average return of 6.1% and a 38.16% success rate on recommended stocks.
In another report released yesterday, H.C. Wainwright also reiterated a Buy rating on the stock with a $54.00 price target.