In a report released today, Terence Flynn from Morgan Stanley maintained a Buy rating on Biohaven Ltd. (BHVN – Research Report), with a price target of $63.00.
Terence Flynn has given his Buy rating due to a combination of factors surrounding Biohaven Ltd.’s recent developments and future prospects. The company has shown promising progress with its BHV-1300 IgG degrader, achieving significant reductions in IgG levels, which is a positive indicator for its potential in treating autoimmune diseases. Furthermore, Biohaven is preparing for the FDA’s decision on Troriluzole for spinocerebellar ataxia (SCA), expected in the third quarter of 2025, which could be a significant catalyst for the stock.
Additionally, despite the setback with BHV-7000 in bipolar mania, the ongoing studies in major depressive disorder and epilepsy hold potential for future growth. The company’s strategic focus on advancing its pipeline, including the initiation of a Phase 2 trial for Taldefgrobep Alfa in obesity and plans for other indications, supports a positive outlook. These factors, combined with the company’s efforts to manage expenses and adjust its model to reflect current trends, contribute to Flynn’s optimistic view on Biohaven’s stock.
In another report released yesterday, Bernstein also maintained a Buy rating on the stock with a $57.00 price target.