3 Reasons Why Biohaven Pharmaceuticals' Stock Is Taking Off

Shares of Biohaven Pharmaceutical (NYSE: BHVN) have nearly doubled since mid-March, including a jump of more than 11% since May 21, with the stock closing at $58.38 on Tuesday. Here are three reasons why investors are favoring the New Haven, Conn., commercial-stage biopharmaceutical company.

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The biggest driver of this year's share price rise was the debut of the company's acute migraine drug, Nurtec ODT (rimegepant). It was approved by the Food and Drug Administration on Feb. 27, and posted net revenues of $1.2 million in March. More than 6,000 prescriptions have already been written for the drug.

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Source Fool.com