Biohaven’s stock price dropped by almost 20% in April as investors grew wary of the company ending preliminary earnings reports for its migraine drug Nurtec ODT. The change in reporting spurred many calls by anxious investors, and Biohaven has tried to assuage fears of low sales by noting it only planned to report preliminary earnings for the drug’s first year of launch. Analysts say that investors may be overly worried, as the drug is showing steady growth.
According to Angus Liu, “Nurtec has grown its scripts by 8% in the first quarter over the previous three months, analysts at SVB Securities said in a note last Thursday. Based on the number, the team increased its Nurtec sales estimate to $180 million in the first quarter of 2022 from a prior projection of $172 million. The analysts expect full-year sales of $926 million, a slight increase from their prior projection of $901 million.”
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(Source: Fierce Pharma, April 26th, 2022)