Credit Suisse Starts XenoPort (XNPT) at Underperform

Credit Suisse initiates coverage on XenoPort (NASDAQ: XNPT) with a Underperform rating and a price target of $4.00.

Analyst Alethia Young commented, "We are sceptical that Horizant sales meaningfully pick up to a level that is more than what the company is spending on selling the drug. Our doc checks noted generics as big competitors. We also think it will be hard for the company to find an appropriate partner for their psoriasis drug based on its risk-benefit profile. We give the company credit for significant Horizant sales growth with 56% in 2016 and a 25% CAGR from 2015-2020. We also assign 35% success to a partnership in psoriasis but still see downside risk at these levels."

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.

You May Also Be Interested In

• Raymond James Starts SpyGlass Pharma (SGP) at Outperform
• New Street Research Upgrades Micron Technology (MU) to Buy
• Freedom Broker Upgrades Lifeway Foods (LWAY) to Buy