Leerink Partners analyst Marc Goodman has maintained their bullish stance on BHVN stock, giving a Buy rating on April 28.
Marc Goodman has given his Buy rating due to a combination of factors that highlight Biohaven Ltd.’s strategic positioning and financial maneuvers. The company’s pursuit of the SCA opportunity for troriluzole in the EU, despite the challenges posed by the rigorous EMA review process and the current lack of OUS sales in the financial model, demonstrates a commitment to expanding its market presence. Goodman remains optimistic about the potential for US approval, which is a significant focus given the upcoming PDUFA date in the third quarter of 2025.
Additionally, the recent financing deal is a positive development, providing Biohaven with an initial $250 million upfront and the potential to secure up to $600 million in total. This non-dilutive financing is particularly advantageous in a challenging equity environment and alleviates some of the financial pressures associated with high cash burn. With $489 million in cash reported at the end of the fourth quarter of 2024, this financial boost strengthens Biohaven’s position and supports Goodman’s positive outlook on the stock.
Goodman covers the Healthcare sector, focusing on stocks such as Axsome Therapeutics, Biohaven Ltd., and Alkermes. According to TipRanks, Goodman has an average return of 0.9% and a 41.55% success rate on recommended stocks.
In another report released on April 28, Robert W. Baird also maintained a Buy rating on the stock with a $57.00 price target.