Why Biohaven Stock Skyrocketed Again Today
Make it two days in a row of big gains for Biohaven Ltd. (NYSE: BHVN). Shares of the drugmaker skyrocketed 47.7% on Wednesday as of the market close. On Tuesday, Biohaven stock jumped nearly 14%.
The momentum is primarily due to the company's new beginning after being spun off from Biohaven Pharmaceutical. Pfizer (NYSE: PFE) closed on its acquisition of Biohaven Pharmaceutical on Monday, with Biohaven Ltd. created as a spin-off before the transaction finalized.
Today's move was almost certainly sparked in part by Biohaven CEO Vlad Coric's interview on CNBC Tuesday evening. The publicity from this TV appearance appears to have stirred investors' interest in the biotech stock.
Source Fool.com
