Piper ‘incrementally positive’ on Biohaven shares after BHV-7000 data

After Biohaven presented preliminary safety and pharmacokinetic data from their Phase 1 healthy volunteer SAD/MAD study of BHV-7000, Piper Sandler analyst Christopher Raymond said he is "incrementally positive" on shares as he was "impressed" that the drug’s safety profile holds up at doses meaningfully higher than that of key competitor XEN1101. BHV-7000 having a wider therapeutic index and the ability to achieve higher efficacy with higher doses "could be the major differentiating feature" and these "promising but preliminary" data support the drug’s "potential best-in-class safety profile," according to Raymond, who has an Overweight rating and $21 price target on Biohaven shares.