Biohaven's Kv7 Program Remains Key Stock Driver, UBS Says

MT Newswires Live09-18

Biohaven's (BHVN) stock performance is likely to remain focused on the outlook for its Kv7 program as the company navigates regulatory uncertainty around BHV-7000, while upcoming obesity data in H2 is expected to be a secondary catalyst, UBS Securities said in a note.

The firm said the largest potential driver of stock upside is Biohaven's degrader program in generalized dystonia and IgA nephropathy.

UBS remains confident the degraders could differentiate from competition, but noted that the primary completion dates are January 2028 for generalized dystonia and September 2028 for IgA nephropathy.

The firm also noted Biohaven's partial clinical hold on BHV-7000 requires additional nonclinical studies related to a metabolite observed in rodents and pauses enrollment in the RISE-2 study. The partial hold does not affect RISE-3, which is fully enrolled, with UBS expecting data in November.

UBS reiterated its neutral rating and $11 price target on Biohaven.

Price: 13.99, Change: +0.10, Percent Change: +0.72

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