JP Morgan launched Biohaven (New York Stock Exchange: BHVN) said lead candidate BHV-7000 has shown promise in several neurological indications and its pipeline is promising, saying it is off in the overweight assessment.
The company has a price target of $23 (up up to 70% based on Monday’s closing price).
The stock is 8% up in Wednesday afternoon trading.
Analyst Tessa Romero said she was particularly excited about BHV-7000 for focal seizures.Discussions with key opinion leaders indicate that there is a significant unmet medical need for this condition. Because it shows
Although clinical data are not yet available for BHV-7000, “Given its comparable mechanism of action to ezogabine as a Kv7 activator, we believe that it has already established a proof-of-concept for its assets in focal epilepsy.”
Looking ahead to the next 6-12 months, Romero said he expects an update of the Phase 1 study evaluating BHV-7000 in healthy volunteers earlier this year and a Phase 2/3 trial of BHV-7000 in focus. said he expects the start of Convulsive seizures in the second half.
Biohaven (BHVN) in its current form began trading in September 2022 as a spin-off of its former self as a condition for Pfizer (PFE) to acquire the “old” Biohaven.