Piper Jaffray analyst Tyler Van Buren recommends continuing to own shares of Biohaven Pharmaceutical ahead of give near-term pivotal data readouts. After hosting a dinner with management, the analyst has a "high level of confidence" in the impending Phase III rimegepant prevention and vazegepant acute readouts, and the ultimate approval of rimegepant in the acute setting in Q1. Moreover, the company's glutamate platform is "severely underappreciated," Van Buren tells investors in a research note. He believes Biohaven will likely soon have three viable CGRP products for the acute treatment and prevention of migraine. The analyst keeps an Overweight rating on the shares with a $100 price target.

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The deal size was i creased to $230M in common stock from $200M in common stock and the range was $40.50-$42.00. JPMorgan acted as sole book running manager for the offering.