Biohaven initiated with a Buy at Goldman Sachs

Goldman Sachs initiated coverage of Biohaven (BHVN) with a Buy rating and $23 price target The clinical-stage biotechnology company has an “extensive pipeline,” notes the analyst, who views the opportunity for BHV-1400 in IgA nephropathy as “the central driver for the stock.” The firm views the clinical data to-date as early and limited, but “compelling” for BHV-1400, whose potentially differentiated profile could allow for “significant market share” in a larger than $40B U.S. market.