Biohaven initiated with a Strong Buy at Raymond James

Raymond James initiated coverage of Biohaven (BHVN) with a Strong Buy rating and $75 price target Shares, down 60% year-to-date, have been unfairly punished after a string of “minor setbacks”, the analyst tells investors in a research note. Biohaven possesses what can fairly be described as one of biotech’s most diverse and deep pipelines, though the firm sees three key value drivers moving forward – Kv7 BHV-7000 for focal epilepsy, IgG degrader BHV-1300 for Graves’ disease, and troriluzole for spinocerebellar ataxia, the firm adds.