$BHVN

Biohaven Supported by Multiple Pipeline Catalysts, Cash Runway Into 2027, RBC Says

Biohaven (BHVN) could benefit from upcoming Kv7 results, later-stage degrader programs and other pipeline updates, while its current cash should support operations into 2027, RBC Capital Markets said in a note Monday.RBC expects the opakalim Kv7 pivotal study results in H2 to be the next major catalyst and sees a 50% chance of success, with a potential $1.2 billion longer-term opportunity, while Biohaven's degrader programs could become more important over time, representing an opportunity of more than $4 billion by 2035.Another attempt to revive troriluzole for spinocerebellar ataxia could lift investor expectations, although RBC sees approval as unlikely and Biohaven gave no new update on the program, according to the note.Obesity study results remain on track for H2, while upcoming oncology data and other programs could create additional partnership opportunities, the investment firm said.RBC kept the company's outperform rating and raised its price target to $23 from $22.Price: $14.08, Change: $-0.46, Percent Change: -3.16%

Update: BofA Securities Downgrades Biohaven to Underperform From Neutral, Trims Price Target to $11 From $12

(Updates with prior price target, analyst averages.)Biohaven (BHVN) has an average rating of overweight and mean price target of $21.56, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

BofA Securities Downgrades Biohaven to Underperform From Neutral, $11 Price Target

Biohaven's Troriluzole Could Drive Potential Upside if the Company Overcomes Regulatory Hurdles, RBC Says

Biohaven's (BHVN) troriluzole to treat neurodegenerative diseases could see up to a 100% upside if the company overcomes regulatory hurdles amid the US Food and Drug Administration's more sponsor-friendly stance, RBC Capital Markets said in a Thursday note.Considering shares as undervalued on epilepsy and degrader programs, the analysts said the drug candidate could make for an even more interesting setup for the stock.According to the note, factors that could support FDA leniency for troriluzole include its largely safe and well-tolerated data and design to target a rare disease with no approved treatments.RBC reiterated its outperform rating on the stock and adjusted its price target to $22 from $23.Price: $15.51, Change: $+0.55, Percent Change: +3.68%

Sector Update: Healthcare Stocks Decline Premarket Monday

Healthcare stocks were declining premarket Monday, with the State Street Health Care Select Sector SPDR ETF (XLV) down 0.6% and the iShares Biotechnology ETF (IBB) 0.1% lower.Humana (HUM) shares were up more than 4% after the company said it plans to reaffirm its full-year adjusted earnings guidance of at least $9 per share during upcoming meetings.GRAIL's (GRAL) stock was down more than 17% after the company said the NHS-Galleri trial of its Galleri multi-cancer early detection test missed its primary endpoint.Biohaven (BHVN) shares were up more than 1% after the company said it has initiated first-in-human dosing of BHV-8100, an experimental oral, brain-penetrant PKM2 modulator being developed for neurological, retinal and inflammatory diseases.