Terence Flynn, an analyst from Morgan Stanley, maintained the Buy rating on Biohaven Ltd.. The associated price target was lowered to $26.00.
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Terence Flynn has given his Buy rating due to a combination of factors that highlight Biohaven Ltd.’s strategic adjustments and future potential. Despite the setback from the FDA’s Complete Response Letter regarding Troriluzole, Biohaven is proactively addressing the situation by engaging with the FDA to discuss the necessary evidence for future approval. This demonstrates the company’s commitment to overcoming regulatory hurdles and advancing its pipeline.
Additionally, Biohaven is optimizing its portfolio and reducing R&D expenses by approximately 60%, focusing on high-priority programs. The emphasis on promising candidates like Opakalim for epilepsy and depression, along with other key programs, positions the company for potential success. These strategic moves, coupled with anticipated data releases, provide a positive outlook for Biohaven’s future growth and justify the Buy rating.
Flynn covers the Healthcare sector, focusing on stocks such as Gilead Sciences, BioNTech SE, and Eli Lilly & Co. According to TipRanks, Flynn has an average return of 7.2% and a 59.38% success rate on recommended stocks.
In another report released yesterday, BTIG also maintained a Buy rating on the stock with a $16.00 price target.