RBC Capital starts Biohaven at Outperform, sees BHV-7000 with over $1B potential

RBC Capital initiated coverage of Biohaven with an Outperform rating and $62 price target. The firm is positive on the way the company identifies promising technologies and targets and then leverages its management expertise to optimize the development path based on competitor data to become a fast-follower in high-value therapeutic areas, the analyst tells investors in a research note. This playbook should also see to success in epilepsy, where RBC believes the market can support two winning Kv7 modulators, estimating BHV-7000 as having $1B+ potential, the firm added.