Aug. 11 at 2:34 PM
RBC Capital y'day⬆️
$BHVN's PT to
$23 from
$22 and reiterated Outperform after BHVN reported their 2Q26 earnings, with all programs largely on track.
$XENE $RAPP PRAX ABBV
ARWR - SRPT WVE
RBC Capital said -- Despite Kv7 being the near-term catalyst, investor focus has largely been on troriluzole's potential return (no concrete action in today's release), and looking further ahead to the degrader data given what we est. as a >
$4B oppt'y by 2035.
Still, we think the near-term Kv7 readout is more likely than not to succeed, and our work suggests there is room in the market for multiple agents in the class.
While spend remains somewhat elevated, we think the pipeline is attractive on a PoS adjusted basis, and we remain buyers into year-end. PT to
$23 on model updates.
