Biohaven study had positive signal for obesity, says H.C. Wainwright

H.C. Wainwright analyst Douglas Tsao reiterates a Buy rating on Biohaven (BHVN) after taldefgrobep alfa missed in Phase 3 for spinal muscular atrophy. Perhaps the more important commercial finding from the study was the positive signal seen for taldefgrobep’s potential in treating obesity, the analyst tells investors in a research note. The firm says study subjects were analyzed for a change from baseline in body composition at week 48 and collectively showed a greater reduction in the percent change in total body fat mass in the taldefgrobep treated group compared to the placebo plus standard of care group. “The primary endpoint miss in SMA is disappointing, but it might not be the end of the road,” contends H.C. Wainwright. It reiterates a Buy rating on the shares with a $59 price target