Analyst Douglas Tsao from H.C. Wainwright maintained a Buy rating on Xenon (XENE – Research Report) and keeping the price target at $53.00.
Douglas Tsao has given his Buy rating due to a combination of factors that highlight Xenon’s promising prospects. The company’s focus on leveraging azetukalner’s versatility, particularly in treating bipolar I and II depression, is a key aspect of this positive outlook. The scientific data supporting the Kv7 mechanism in bipolar depression, along with existing clinical data in major depressive disorder (MDD), suggests a strong potential for efficacy in this new indication.
Furthermore, the ongoing progress of azetukalner in Phase 3 studies for focal onset seizures (FOS) and primary generalized tonic-clonic seizures (PGTCS) adds to the optimism. The drug’s demonstrated ability to achieve seizure freedom in a significant number of patients, coupled with its mood stabilization effects, positions it as a potentially groundbreaking treatment. The low discontinuation rates due to adverse effects in previous studies further support its favorable profile, making Xenon a compelling investment opportunity.
Based on the recent corporate insider activity of 11 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of XENE in relation to earlier this year.