Biohaven Ltd.’s Promising Outlook for Troriluzole in Spinocerebellar Ataxia Amidst FDA Decision

Analyst Marc Goodman of Leerink Partners reiterated a Buy rating on Biohaven Ltd. (BHVN – Research Report), with a price target of $60.00.

Marc Goodman gave his rating based on several factors related to Biohaven Ltd.’s potential in addressing spinocerebellar ataxia (SCA). The company is on the brink of a significant milestone with the anticipated FDA decision regarding the New Drug Application (NDA) for troriluzole in SCA. This development follows positive data outcomes showing a 50-70% slowing in disease progression, as evidenced by real-world data from study BHV4157-206-RWE.
Goodman’s optimism is also fueled by the regulatory landscape, where there is a precedent for NDA approval in similar cases, combined with the high unmet medical need due to the lack of approved treatments for SCA. The stock’s previous positive reaction, a 20% increase, suggests investor confidence and a positive market outlook should the FDA accept the NDA. In such a scenario, Goodman anticipates further stock appreciation, while acknowledging the potential risk should the FDA issue a refusal to file. This risk-reward balance underpins his Buy rating.