Cantor Fitzgerald Believes Biohaven Pharmaceutical Holding Co Ltd (NYSE: BHVN) Still Has Room to Grow

By Jason Carr

In a report released today, Brandon Folkes from Cantor Fitzgerald maintained a Buy rating on Biohaven Pharmaceutical Holding Co Ltd (NYSE: BHVN), with a price target of $50. The company’s shares closed yesterday at $40.84, close to its 52-week high of $44.28.

Folkes wrote:

“: Following our meeting with CEO Vlad Coric and CFO Jim Engelhart earlier this week, we reaffirm our Overweight rating on BHVN stock, and are increasing our 12-month price target to $50, from $42, driven by multiple expansion. We think the Street’s focus on rimegepant acute oral CGRP data has led to an under-appreciation of Biohaven’s other opportunities to drive long term share holder value beyond current levels. The takeaways from our meeting are detailed below and underscore our belief BHVN shares remain undervalued at current levels.”

According to TipRanks.com, Folkes is a 1-star analyst with an average return of -0.7% and a 47.6% success rate. Folkes covers the Healthcare sector, focusing on stocks such as Opiant Pharmaceuticals Inc, Eagle Pharmaceuticals Inc, and Collegium Pharmaceutical.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Biohaven Pharmaceutical Holding Co Ltd with a $44.50 average price target, an 9.0% upside from current levels. In a report issued on July 1, Canaccord Genuity also maintained a Buy rating on the stock with a $40 price target.

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Based on Biohaven Pharmaceutical Holding Co Ltd’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $85.46 million. In comparison, last year the company had a GAAP net loss of $38.44 million.

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Biohaven Pharmaceutical Holding Co. Ltd. is a clinical-stage biopharmaceutical company, which engages in the research and development of late-stage product candidates targeting neurological diseases, including rare disorders.