Immunovant data positive for Biohaven, says Deutsche Bank

Deutsche Bank says Biohaven’s (BHVN) competitor Immunovant (IMVT) reported topline data for FcRn antibody batoclimab in myasthenia gravis and chronic inflammatory demyelinating polyneuropathy. Batoclimab’s results strengthen the argument for “lower is better” on immunoglobulin G reduction and translation to clinical benefits, boding well for Biohaven’s IgG degrader programs, the analyst tells investors in a research note. Deutsche says Biohaven’s program have shown in line to slightly better IgG reduction versus batoclimab. It sees a positive read-through from Immunovant’s data and keeps a Buy rating on Biohaven with a $60 price target.