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.

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

A pharmacist in a white coat with a range of drugs on shelves behind her.

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 to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than BHVN and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

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