Why Biohaven Stock Crushed it on Monday
Biohaven stock rose over 10% on Monday after an analyst from Canaccord Genuity initiated coverage with a buy recommendation and a price target of $21 per share. The analyst is impressed with the company's drug opakalim, which is currently in phase 3 clinical testing for focal epilepsy.
Biohaven stock got a boost on Monday. An analyst from Canaccord Genuity initiated coverage with a buy recommendation and a price target of $21 per share. The analyst likes the company's drug opakalim, which targets epileptic seizures and is in phase 3 clinical testing. Opakalim is also being evaluated for inherited erythromelalgia, a condition that results in chronic pain. The analyst sees Biohaven as a sleeper play on this trial and believes now is an opportune time to buy the stock. The top-line readout is anticipated to occur in the second half of this year.
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