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Fly News Breaks for December 23, 2019
ABBV, AGN, BHVN
Dec 23, 2019 | 18:13 EDT
Piper Jaffray analyst Tyler Van Buren reiterated an Overweight rating and $100 price target on Biohaven (BHVN) after Allergan's (AGN) and soon-to-be AbbVie's (ABBV) UBRELVY/ubrogepant received approval for the acute treatment of migraine. Van Buren said that while he wasn't expecting a black box warning or serious safety warnings related to liver toxicity, there seems to be no mention of increased ALTs on the label at all, therefore the label is "incredibly clean." The analyst said he believes this "clearly bodes very well" for the class as a whole and Biohaven's rimegepant, which had even cleaner safety and tolerability data.