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BHVN

Biohaven Pharmaceutical

$29.77

1.09 (3.80%)

16:17
05/15/18
05/15
16:17
05/15/18
16:17

Biohaven reports Q1 EPS ($2.32), may not compare to consensus ($1.14)

"In the first quarter of 2018, we continued our strong momentum across our CGRP receptor antagonist and glutamate modulator pipeline programs. The team's stellar performance and progress position us to expect a number of important data announcements and regulatory filings in 2018 and 2019," said Vlad Coric, M.D., CEO of Biohaven. "In our CGRP receptor antagonist platform, we announced positive data from both of our pivotal Phase 3 trials with rimegepant as an acute treatment for migraine, continued our long-term safety study of rimegepant and commenced a clinical trial of our Zydis(R) orally dissolving tablet formulation. We also progressed BHV-3500 toward the clinic for the acute treatment and prevention of migraine. And in our glutamate modulator programs, we continued to progress all three of our drug candidates across multiple indications. Ongoing studies continue with trigriluzole in spinocerebellar ataxia and OCD, while the Alzheimer's disease trial will begin in the second quarter of 2018. We were excited to initiate our expanded access program for sublingual BHV-0223 in ALS and remain on target to submit our NDA in the second half of 2018. Lastly, our oral, low-trapping NMDA antagonist, BHV-5000, is completing nonclinical and Phase 1 work to support later stage development. Our world-class team of clinical and commercial professionals remain dedicated and focused on achieving important milestones over the course of the year."

  • 12

    Jun

BHVN Biohaven Pharmaceutical
$29.77

1.09 (3.80%)

03/27/18
ADAM
03/27/18
NO CHANGE
Target $34
ADAM
Buy
Biohaven Pharmaceutical price target lowered to $34 from $39 at Canaccord
Canaccord analyst Sumant Kulkarni lowered his price target on Biohaven Pharmaceuticals to $34 from $39 following a Phase 3 readout on its acute migraine drug candidate. The analyst raised his probability of approval assumption, but he lowered his free cash flow based price target while noting his model excludes any value for BHV-3500, its additional migraine drug candidate. Kulkarni reiterated his Buy rating on Biohaven shares.
04/05/18
LEHM
04/05/18
DOWNGRADE
Target $25
LEHM
Equal Weight
Biohaven downgraded to Equal Weight from Overweight at Barclays
Barclays analyst Geoffrey Meacham downgraded Biohaven Pharmaceutical to Equal Weight and lowered his price target for the shares to $25 from $30. The analyst believes competitor data in migraine will limit the near-term upside in the shares.
04/05/18
LEHM
04/05/18
NO CHANGE
LEHM
Barclays upgrades Merck, downgrades Biogen and Pfizer in sector reassessment
Barclays analyst Geoff Meacham made some rating changes while reassessing the Biopharmaceutical sector. Biopharma sentiment has been negative since the start of 2018, despite a modest pick-up in deals and diminished rhetoric on drug pricing, Meacham tells investors in a research note titled "U.S. Biopharmaceuticals: Where to from here?" The analyst believes "more transformative" acquisitions, "clean" Phase 3 wins, and even a relatively strong Q1 earnings season could help "re-rate the sector" and get investors more engaged in the group. Ahead of the Q1 earnings season, Meacham upgraded Merck (MRK) to Overweight from Equal Weight and downgraded to Equal Weight from Overweight shares of Biogen (BIIB), Pfizer (PFE), Biohaven Pharmaceutical (BHVN) and Myovant Sciences (MYOV). The analyst also lowered his price target for Equal Weight-rated AbbVie (ABBV) to $102 from $120, for Equal Weight-rated Amgen (AMGN) to $180 from $180, for Overweight-rated Prothena (PRTA) to $50 from $70 and for Overweight-rated Incyte (INCY) to $135 from $165.
04/05/18
04/05/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Intel (INTC) downgraded to Hold from Buy at Stifel with analyst Kevin Cassidy citing the peaking server central processing unit cycle and valuation for the downgrade. 2. Johnson Controls (JCI) downgraded to Underperform from Sector Perform at RBC Capital with analyst Deane Dray citing the company's exposure to additional cash flow pressures in fiscal 2018, reduction in fiscal 2020 targets, and a market rotation toward "more defensive names." 3. Ryder (R) downgraded to Underweight from Neutral at JPMorgan with analyst Brian Ossenbeck saying he is making a "longer term call on 2019 expectations," which he believes are too high and embed "significant gains on residual values and used truck sales." 4. Ollie's Bargain Outlet (OLLI) downgraded to Neutral from Buy at BofA/Merrill with analyst Elizabeth Suzuki saying valuation is getting "richer," quarterly comps have been decelerating since 2015, and are now expected to be 1%-2% in 2018. 5. Biogen (BIIB), Pfizer (PFE), Biohaven (BHVN), and Myovant Sciences (MYOV) were downgraded to Equal Weight from Overweight at Barclays. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

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