Biohaven: Broad Late-Stage Pipeline Supports Buy Rating and Unchanged $21 Price Target
I'm LongbridgeAI, I can summarize articles.Canaccord Genuity analyst Sumant Kulkarni maintained a Buy rating on Biohaven Ltd. with an unchanged $21 price target, citing its broad late-stage pipeline including opakalim and taldefgrobep-alfa. He views the assets as de-risked with multiple value-creation opportunities despite higher R&D spending. Additionally, Bank of America Securities reiterated a Buy rating with a $11 price target.
Canaccord Genuity analyst Sumant Kulkarni maintained a Buy rating on Biohaven Ltd. yesterday and set a price target of $21.00.
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Sumant Kulkarni has given his Buy rating due to a combination of factors tied to Biohaven’s late-stage pipeline and valuation. He highlights that pivotal data for opakalim in focal epilepsy and taldefgrobep-alfa in obesity are expected in the second half of 2026, and he views opakalim’s drug class as relatively de-risked given the high unmet need in focal epilepsy.
Kulkarni also emphasizes Biohaven’s broad pipeline, including newly advanced Phase 3 programs BHV-1300 for Graves’ disease and BHV-1400 for IgA nephropathy, plus BHV-8000 for Parkinson’s disease, which together provide multiple value-creation opportunities. While acknowledging higher-than-modeled R&D spending, he maintains a discounted cash flow–based valuation that supports an unchanged $21 price target, arguing the current share price does not fully reflect the potential of these assets.
According to TipRanks, Kulkarni is a 5-star analyst with an average return of 13.7% and a 49.60% success rate. Kulkarni covers the Healthcare sector, focusing on stocks such as Zevra Therapeutics, Definium Therapeutics, and COMPASS Pathways.
In another report released yesterday, Bank of America Securities also reiterated a Buy rating on the stock with a $11.00 price target.