Biohaven price target raised to $60 from $55 at Leerink

Leerink raised the firm’s price target on Biohaven to $60 from $55 and keeps an Outperform rating on the shares. The top-line readout this morning confirmed the firm’s view that the opportunity of troriluzole in spinal cerebellar ataxia, or SCA, is “interesting” and the firm continues to closely watch the development of this opportunity, which could be a significant upside for the stock if the drug is approved by the FDA, the analyst tells investors. After Biohaven reported positive real-world evidence data from a study designed during discussion with the FDA, the firm has added back this opportunity to its model with a 30% odds of success, the analyst noted.