BofA starts Biohaven at purchase, cites “fast-follower” approach (NYSE:BHVN)

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BofA began protection of Biohaven (NYSE:BHVN) with a purchase ranking, citing its drug improvement applications for temper and autoimmune problems.
The funding financial institution mentioned it preferred Biohaven’s “’fast-follower’ approach of advancing drugs that rivals have been developing – allowing it to capitalize on an already de-risked clinical path.”
BofA added that whereas it noticed Biohaven’s (BHVN) efforts as “expansive,” it believed administration had a “track record of prudent capital allocation.”
The financial institution set its value goal for the inventory at $52.

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Source: Seekingalpha