In a report released today, Douglas Tsao from H.C. Wainwright reiterated a Buy rating on Xenon (XENE – Research Report), with a price target of $53.00.
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Douglas Tsao’s rating is based on several compelling factors regarding Xenon Pharmaceuticals’ lead candidate, azetukalner. The drug has shown promising results in Phase 2 trials for refractory focal epilepsy, with a significant reduction in seizure frequency and a potential mood stabilization effect. This dual benefit could position azetukalner as a preferred treatment option, especially considering the common comorbidity of mood disorders in epilepsy patients.
Additionally, azetukalner’s rapid onset and durability, along with its favorable safety and tolerability profile, enhance its market potential as a second-line therapy. The drug’s ability to offer mood benefits without the titration requirements of other anti-seizure medications could make it an attractive alternative to existing treatments. These factors collectively support Tsao’s optimistic outlook and Buy rating for Xenon’s stock.
In another report released on June 13, RBC Capital also maintained a Buy rating on the stock with a $57.00 price target.