Jefferies started with a buy recommendation and a $57 target From Investing.com

Investing.com – Investment house Jefferies has increased its rating for Biohaven Pharmaceutical Holding (NYSE:) to “Buy” with a price target of $57.

Analyst Amy Li stresses that the current market capitalization of $3.6 billion does not fully reflect the potential of the company’s pipeline and that there is long-term upside potential. She points out that the IgG degrader BHV-1300 shows promise in the areas of immunology and inflammation, while BHV-7000 could be used in epilepsy, with additional potential in depressive disorders. In addition, the Phase 3 study in obsessive-compulsive disorder (OCD) could yield positive results. Other programs, such as taldefgrobep alfa, a myostatin inhibitor, offer additional opportunities.

At the same time, Li admits that there could be short-term turmoil related to upcoming trial data, especially for the treatment of spinal muscular atrophy (SMA) in the second half of 2024. She also acknowledges the company’s high capital consumption. Nevertheless, she recommends buying the stock.

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