Biohaven Completes RISE3 Trial Enrollment; Deutsche Bank Raises Price Target to $20

Biohaven Ltd. (NYSE:BHVN) announced on June 30 the completion of patient enrollment in the pivotal Phase 2/3 randomized, double-blind, placebo-controlled RISE3 trial evaluating opakalim for refractory focal epilepsy. Opakalim, the company's selective Kv7.2/7.3 channel activator, represents a novel therapeutic approach targeting neurological conditions such as epilepsy, with top-line results anticipated in the second half of 2026. One day prior, on June 29, the company initiated the first patient enrollment in the pivotal Phase 3 trial of BHV-1300 for Graves' disease, marking it as the first MoDE extracellular protein degrader designed to eliminate the IgG1 TSHR autoantibody driving the condition. On June 26, Deutsche Bank increased its price target for Biohaven shares to $20 from $15, maintaining a Buy rating, citing potential benefits from recent FDA reversals for its troriluzole program in spinocerebellar ataxia.

■Biohaven Ltd. (NYSE:BHVN) advances opakalim's clinical pipeline with RISE3 trial milestone.

■BHV-1300 introduces a groundbreaking protein degradation strategy for autoimmune disorders.

■Deutsche Bank's revised outlook underscores optimism around the company's diversified pipeline.

■Multi-therapeutic area focus positions Biohaven as a high-risk, high-reward biotech play amid regulatory shifts.

Markets are responding positively to Biohaven's clinical progress and analyst upgrades, reflecting renewed confidence in biotech equities following FDA-related uncertainties. The company's dual-track approach in neurology and immunology signals strategic resilience in a volatile sector.