Biohaven price target raised to $68 from $55 at JPMorgan

JPMorgan raised the firm’s price target on Biohaven to $68 from $55 and keeps an Overweight rating on the shares. The firm updated its model following Biohaven’s updates last week around its troriluzole program in spinocerebellar ataxia. It is incorporating risk-adjusted revenue forecasts for spinocerebellar ataxia into the company’s model. Given the high unmet need in SCA and with the potential of a broad label encompassing all SCA genotypes, JPMorgan models peak revenues of $1.4B in 2040.