Opinions
Jim Cramer - Mad Money
Biohaven Pharmaceutical
BHVN-N
DON'T BUY
Jul 31, 2023
$19.880
Stock price when the opinion was issued
Pharma & Healthcare
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COMMENT
They sell a super migraine pill he uses. It popped a year from around $25 to $100 in November, but since then it's pulled back to $72 today. It's a victim of the current rotation out of tech into cyclicals. That migraine pill is a steady seller and Biohaven also has a Parkinson's treatment in the pipeline as well as one for ALS. It could be worth buying into weakness.
Pharma & Healthcare
BUY
A favourite of his. It plunged from $139 to $121 today. Whoa. Yesterday morning, they reported a solid quarter, and partnered with Pfizer to sell their big migraine pill overseas. But BHVN pre-announced strong results in early October so the good news is baked into the stock. The Pfizer news may be seen as a negative, because many investors expected BHVN to be a takeover candidate.
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BUY
The new Biohaven began trading last October after Pfizer bought the old one only for its migraine drug. The new Biohaven is far more speculative because there are many drugs in the pipeline in early stages. They held an R&D day this week and shares soared. He has faith in their new drugs.
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Shares sold off last week after the FDA refused to review one of their drugs. Could be a buying opportunity, but the company is losing money.