Needham analyst Serge Belanger has maintained their bullish stance on XENE stock, giving a Buy rating today.
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Serge Belanger has given his Buy rating due to a combination of factors tied to Xenon’s lead asset, azetukalner, which delivered stronger-than-anticipated Phase 3 results in focal onset seizures. The 25 mg and 15 mg doses produced placebo-adjusted reductions in seizure frequency that not only surpassed prior Phase 2b data, but also outperformed the typical efficacy range seen with currently marketed anti-seizure medications.
These robust data support azetukalner’s potential as a blockbuster epilepsy therapy and significantly reduce development risk across additional central nervous system indications such as major depressive disorder and cognitive-behavioral disorders. Reflecting this improved risk-reward profile and higher projected peak sales driven by greater anticipated market penetration, Belanger reaffirmed his Buy rating and raised his price target to $80 from $58.