Piper Sandler lowered the firm’s price target on Biohaven (BHVN) to $30 from $75 and keeps an Overweight rating on the shares following the FDA’s complete response letter for troriluzole in spinocerebellar ataxia, citing RWE and natural history study issues. This follows a complex regulatory history with an initial RTF letter, followed by NDA acceptance in February based on statistical significance benefits from an FDA-guided RWE protocol. Piper views the FDA’s decision as a concerning instance of inconsistent guidance.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BHVN:
- Biohaven price target lowered to $16 from $33 at BTIG
- Hold Rating on Biohaven Ltd. Amid Liquidity Challenges and Uncertain Clinical Outcomes
- Biohaven downgraded to Market Perform from Outperform at Bernstein
- Biohaven downgraded to Neutral from Buy at BofA
- Morning News Wrap-Up: Wednesday’s Biggest Stock Market Stories!