Biohaven Shares Hit $12.52 Pre-Market After Xenon Trial Shows 42.7% Seizure Drop
Biohaven shares climbed to $12.52 in premarket trading after xenon’s Phase 3 X-TOLE2 study reported a 42.7% median seizure reduction for azetukalner 25 mg. The stock trades 12.5% below its 20-day SMA and has dropped 64.95% over the past year, reflecting ongoing bearish pressure.
1. Xenon Phase 3 Seizure Study Results
X-TOLE2 met its primary endpoint with the 25 mg azetukalner cohort achieving a placebo-adjusted median focal onset seizure frequency reduction of 42.7%. This positive outcome underscores azetukalner’s potential as a KV7 potassium channel opener in epilepsy.
2. Biohaven’s Opakalim Pipeline
Biohaven is developing Opakalim (BHV-7000), a selective Kv7.2/7.3 activator, with two ongoing phase 3 trials for focal and generalized epilepsy and a phase 2 study in major depressive disorder, following a Phase 2 MDD trial that failed to meet its MADRS endpoint.
3. Stock Performance and Technical Indicators
Shares surged to $12.52 premarket before pulling back, trading 12.5% below their 20-day SMA and 16.7% under the 50-day SMA. The stock is down 64.95% year-to-date, with an RSI near neutral at 36.10 and a bearish MACD at -0.3294 versus its -0.1633 signal line.
4. Analyst Ratings and Targets
The consensus is a Buy rating with an average price target of $30.36. HC Wainwright lowered its target to $10.00 while RBC Capital raised its target to $23.00. The stock holds 3.09% weight in a major health care ETF.