William Blair analyst Myles Minter has reiterated their bullish stance on BHVN stock, giving a Buy rating yesterday.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Myles Minter’s rating is based on Biohaven Ltd.’s promising and diverse pipeline, which was showcased at their recent R&D day. The company has several high-interest projects, including troriluzole for spinal cerebellar ataxia, targeted MoDE degraders, and BHV-7000, which have captured significant investor attention.
Despite some regulatory challenges, such as the FDA’s extension of the PDUFA date for troriluzole, Minter remains optimistic due to Biohaven’s ability to provide the requested data and the potential of troriluzole to become the first FDA-approved therapy for SCA. The clean safety profile of the drug and expected strong patient advocacy further support the Buy rating, as these factors could positively influence the upcoming advisory committee meeting.
In another report released yesterday, Bank of America Securities also maintained a Buy rating on the stock with a $50.00 price target.