William Blair analyst Myles Minter has maintained their bullish stance on BHVN stock, giving a Buy rating today.
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Myles Minter’s rating is based on several promising developments at Biohaven Ltd. The company has shown evidence of opakalim’s (BHV-7000) activity in a single-patient compassionate use case involving a child with intractable epilepsy due to a Kv7 gene mutation. This transition from ezogabine to opakalim, despite being a single data point, suggests potential efficacy in treating conditions related to Kv7 gene mutations. Additionally, the extended-release formulation of opakalim has demonstrated a 0% somnolence rate in Phase I studies, which is encouraging for its CNS activity.
Furthermore, the PDUFA for VYGLXIA (troriluzole) for spinocerebellar ataxia (SCA) is on track for a fourth-quarter review in 2025, with priority review progressing smoothly. The completion of clinical trial inspections without observations or findings is a positive indicator. The FDA’s requests for additional data, including natural history and PK data, are being addressed by Biohaven, which could strengthen the application. These factors collectively contribute to Minter’s Buy rating for Biohaven Ltd.
In another report released today, TD Cowen also maintained a Buy rating on the stock with a $50.00 price target.