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Fly News Breaks for June 11, 2018
AGN, BHVN
Jun 11, 2018 | 11:43 EDT
Piper Jaffray analyst Tyler Van Buren says that while today's data for Allergan's (AGN) atogepant "are not bad," Biohaven's (BHVN) molecules are still best in class. Atogepant appears to be effective in preventing migraines for episodic patients and while the incidence of elevated liver enzymes was balanced between the arms, it is a risk that needs to be studied in larger and longer Phase III trials, Van Buren tells investors in a research note. Further, the analyst notes Allergan's data do not cure the observed imbalance in liver toxicity that was seen recently with ubrogepant, the direct competitor to Biohaven's rimegepant for acute migraine, in Phase III trials earlier this year. Van Buren keeps an Overweight rating on Biohaven with a $48 price target.
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