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Why Biohaven Stock Crushed it on Monday

TheMotleyFool

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Why Biohaven Stock Crushed it on MondayPhoto, wide shot, wide-angle lens, Bank, Midday, harsh overhead sunlight, directional sunlightt, photo by Thomas Heaton: https://img.theapi.app/temp/094456a7-d529-4ef2-b536-c031f2afd618.png

Biohaven (NYSE: BHVN) stock got quite the shot in the arm as the trading week began. On Monday, an analyst initiated coverage of the clinical-stage biotech with a very bullish buy recommendation; not suprisingly, investors took this to heart and pushed the price of the shares up by more than 10% that trading session.

The person behind the initiation was Canaccord Genuity's Sumant Kulkami, who flagged Biohaven as a buy with a price target of $21 per share. That figure is significant, as it's more than double Biohaven's present level, even after the Monday price pop.

Image source: Getty Images.

Source Fool.com