Leerink Lowers Biohaven (BHVN) PT to $50 Following Q2 Report, Acknowledging Positive Pipeline Progress

Biohaven Ltd. (NYSE:BHVN) is one of the best small cap stocks with biggest upside potential. On August 12, Leerink lowered the firm’s price target on Biohaven to $50 from $60, while keeping an Outperform rating on the shares following the Q2 2025 earnings report and incremental updates on the pipeline.

Biohaven’s lead candidate, called VYGLXIA (troriluzole), is under review by the FDA for treating spinocerebellar ataxia/SCA, which is a rare, progressive, and fatal neurological disease. The firm also noted that the regulatory timeline for troriluzole in SCA was reaffirmed, with the PDUFA date still scheduled in Q4 this year, and the company is preparing for a potential commercial launch.

The company’s MoDE and TRAP degrader platforms are advancing, with BHV-1300 showing up to 87% IgG reductions in a Phase 1 study. Similarly, the TRAP degrader BHV-1400 demonstrated sustained reductions of over 80% in a key IgA Nephropathy biomarker.

Biohaven Ltd. (NYSE:BHVN) discovers, develops, and commercializes therapies for immunology, neuroscience, and oncology worldwide.

While we acknowledge the potential of BHVN as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.