Analyst Tyler Van Buren from TD Cowen maintained a Buy rating on Biohaven Ltd. and keeping the price target at $15.00.
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Tyler Van Buren has given his Buy rating due to a combination of factors, primarily focusing on Biohaven Ltd.’s strategic pipeline prioritization and cost management. The company has streamlined its efforts to concentrate on high-potential programs such as the Kv7, degrader, and myostatin initiatives, which are expected to yield significant results in the near future. By cutting R&D expenses by half, Biohaven aims to extend its financial runway and focus on assets with a higher probability of success.
Furthermore, the company’s commitment to reducing costs while maintaining personnel highlights its strategic approach to managing resources effectively. The emphasis on key programs like opakalim for epilepsy and depression, along with other promising platforms, underscores Biohaven’s potential for growth. The anticipated data from ongoing trials, particularly in major depressive disorder and epilepsy, further supports the optimistic outlook for the company’s future performance.
In another report released yesterday, H.C. Wainwright also maintained a Buy rating on the stock with a $30.00 price target.