Deutsche Bank Cuts Price Target on XenoPort (XNPT), Horizant Continues to be Sluggish.
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Price: $6.75 +4.33%
Rating Summary:
4 Buy, 3 Hold, 0 Sell
Rating Trend:
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Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
Rating Summary:
4 Buy, 3 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
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Deutsche Bank is reaffirming its Buy rating on shares of XenoPort (NASDAQ: XNPT) following the release of its Q4 results. The firm also is lowering its price target from $10 to $7.
The company reported a smaller operating loss than the firm was forecasting due to lower than expected operating expenses. Deutsche notes the launch of Horizant continues to be sluggish.
An analyst at Deutsche comments, "Mgmt could not comment on the status of the dispute or predict how GSK will respond or if litigation might be initiated be either company. While we still believe that Horizant could ultimately become a significant drug, XNPT will have to resolve the issues with GSK or find another partner. Hence, it likely will take even more time for the product to gain traction. As such, we are further reducing our 2012-2013 Horizant US end-market sales to $15M and $50M from $40M and $122M."
The firm reduced its FY12 and FY13 EPS estimates from ($1.12) and ($1.14) to ($1.79) and ($1.26).
For an analyst ratings summary and ratings history on XenoPort click here. For more ratings news on XenoPort click here.
Shares of XenoPort closed at $4.28 yesterday, with a 52 week range of $3.46-$11.34.
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The company reported a smaller operating loss than the firm was forecasting due to lower than expected operating expenses. Deutsche notes the launch of Horizant continues to be sluggish.
An analyst at Deutsche comments, "Mgmt could not comment on the status of the dispute or predict how GSK will respond or if litigation might be initiated be either company. While we still believe that Horizant could ultimately become a significant drug, XNPT will have to resolve the issues with GSK or find another partner. Hence, it likely will take even more time for the product to gain traction. As such, we are further reducing our 2012-2013 Horizant US end-market sales to $15M and $50M from $40M and $122M."
The firm reduced its FY12 and FY13 EPS estimates from ($1.12) and ($1.14) to ($1.79) and ($1.26).
For an analyst ratings summary and ratings history on XenoPort click here. For more ratings news on XenoPort click here.
Shares of XenoPort closed at $4.28 yesterday, with a 52 week range of $3.46-$11.34.
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