Citi lowered the firm’s price target on Biohaven (BHVN) to $14 from $28 and keeps a Buy rating on the shares. The firm cites the complete response letter in spinocerebellar ataxia for the target cut. Citi remains cautious into Biohaven’s upcoming Phase 3 depression data but says the recent equity raise alleviates a near-term financing overhang.
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