Biohaven price target raised to $27 from $24 at Goldman Sachs

Goldman Sachs raised the firm’s price target on Biohaven (BHVN) to $27 from $24 and keeps a Buy rating on the shares. Xenon (XENE) reported strong Phase 3 X-TOLE2 results for azetukalner in focal onset seizures, with the 25mg dose achieving a -53.2% median reduction in seizure frequency versus -10.4% for placebo and a safety profile generally consistent with expectations despite higher discontinuations at the top dose, the analyst tells investors in a research note. The data, along with management’s commentary around potential premium pricing versus existing branded therapies like Xcopri, are viewed positively for the broader Kv7 class, including Biohaven’s opakalim, Goldman says.