Biohaven Pharmaceutical price target raised to $89 from $46 at Canaccord

Canaccord analyst Sumant Kulkarni raised his price target on Biohaven Pharmaceutical to $89 from $46 after Bloomberg said the company is exploring a sale. In a research note to investors, Kulkarni, who maintains a Buy rating, says he believes there is significant scarcity value associated with central nervous system-focused companies that have “ripe” pipeline assets, and continues to believe rimegepant, Biohaven’s migraine-focused lead product, could realize its potential more fully in the hands of a larger organization that is able to more effectively target primary care. He continues to like the Biohaven stock on a fundamental basis.
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