JPMorgan lowered the firm’s price target on Biohaven (BHVN) to $15 from $47 and keeps an Overweight rating on the shares. The firm finds it “prudent” for Biohaven to undertake cost optimization efforts and restructure its business priorities following the complete response letter for Vyglxia. This should help refocus investor attention on the company’s key value drivers, the analyst tells investors in a research note.
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