William Blair Maintains Bullish Stance on Biohaven (BHVN), Sees Robust Operational Growth

Biohaven Ltd. (NYSE:BHVN) is 1 of the best small-cap biotech stocks to bargain according to analysts.

On November 11, 2025, William Blair kept its “Market Perform” rating. The concern steadfast sees the FDA’s Complete Response Letter (CRL) for Vyglxia arsenic a cardinal operator for pipeline reprioritization. The steadfast besides cited the company’s projection of a 60% simplification successful nonstop walk connected non-priority assets. William Blair believes the company’s late-stage programs stay cardinal maturation catalysts successful the abbreviated and mean term.

Biohaven Ltd. (NYSE:BHVN) reported Q3 2025 results connected November 10, 2025. The 4th saw a nett nonaccomplishment of $173.4 million, oregon $1.64 per share, compared to a nett nonaccomplishment of $160.3 cardinal successful Q3 2024. However, non-GAAP nett nonaccomplishment saw improvement, reaching $155.9 million, oregon $1.47 per share, driven by reductions successful non-priority programme spending and ongoing outgo management. The institution faced gross pressures during the quarter, marked by the partial intermission of Vyglxia-related activities and the absorption connected prime pipeline assets.

Biohaven Ltd. (NYSE:BHVN) closed the 4th with $263.8 cardinal successful currency balances, adjacent though expenses remained high. The institution besides reported a diminution successful R&D expenses, bringing them down from $157.6 cardinal successful Q3 2024 to $141.2 million. The absorption shifted toward opakalim, TRAP/MoDE degraders, and taldefgrobep alfa. Meanwhile, wide and administrative expenses reached $28.2 million, driven by higher share-based compensation and ineligible expenses.

Biohaven Ltd. (NYSE:BHVN) is focused connected discovering, developing, and commercializing therapies crossed immunology, neuroscience, and oncology.

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