Wells Fargo Starts XenoPort (XNPT) at Outperform; Multiple Catalysts for Near-Term Appreciation

Wells Fargo initiates coverage on XenoPort (NASDAQ: XNPT) with an Outperform. PT range $7-9.

Analyst, Brian Abrahams, said, "We are most enthusiastic about the prospects of XP23829, XNPT's prodrug of the active ingredient in BIIB's BG-12, and expect
increasing enthusiasm over the drug's long-term prospects to drive share upside. While the opportunity for marketed agent Horizant and phase III candidate arbaclofen placarbil (AP) may be more modest, we believe their combined future revenue streams put a floor in valuation near where the shares currently trade."

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 $5.17 yesterday.

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