Biohaven price target lowered to $22 from $23 at RBC Capital

RBC Capital lowered the firm’s price target on Biohaven (BHVN) to $22 from $23 and keeps an Outperform rating on the shares. The company’s Q1 results indicate that programs are progressing as expected ahead of the company’s R&D Day, the analyst tells investors in a research note. Pivotal initiations for ‘1400 are taking slightly longer into mid-26, but the firm does not expect a major stock reaction and believes investors will rather focus on the incremental data updates in May, the firm added.