Cantor reiterates $55 price target on Biohaven after R&D day

Cantor Fitzgerald analyst Charles Duncan reiterates an Overweight rating on Biohaven Pharmaceutical with a $55 price target after attending the company’s R&D day. The event was an opportunity to see the breadth of the company’s glutamate pipeline, which “is notably broad, but early,” Duncan tells investors in a research note. The analyst sees investor focus shifting toward troriluzole and the glutamate platform pending “interpretable, positive data” out of ongoing clinical trials in two indications in 2019.
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