Xenon Pharmaceuticals (XENE) PT Raised to $25 at Needham & Company

March 2, 2021 8:09 AM EST
Get Alerts XENE Hot Sheet
Price: $19.63 -1.85%

Rating Summary:
    9 Buy, 0 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 17 | Down: 13 | New: 41
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Needham & Company analyst Serge Belanger raised the price target on Xenon Pharmaceuticals (NASDAQ: XENE) to $25.00 (from $22.00) while maintaining a Buy rating.

The analyst commented, "XENE had previously provided a comprehensive corporate update, and recently announced plans to evaluate XEN1101 as a treatment for depression, thus the 4Q20 update mostly served to highlight upcoming catalysts. The promise of XENE's neurology pipeline continues to grow as it now consists of five different molecules (incl. partnered programs) that should all be in clinical development across a total of 7-8 trials during 2021. The readout of the ph 2b X-TOLE trial in 3Q21 remains XENE's most important catalyst given XEN1101's significant opportunity in the large adult focal epilepsy market. Additional XEN007 results from the exploratory trial in children with CAE are also expected in 2H21. We maintain our Buy rating, and are increasing our $PT to $25 (from $22) ahead of key catalysts in 2H21."



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