Xenon, the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Serge Belanger from Needham maintained a Buy rating on the stock and has a $55.00 price target.
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Serge Belanger has given his Buy rating due to a combination of factors related to Xenon’s promising developments in their clinical trials. The completion of enrollment for the Phase 3 X-TOLE2 trial, which is evaluating the efficacy of azetukalner (XEN1101) in treating focal onset epilepsy, is a significant milestone. The trial is on schedule to deliver results in early 2026, which will be crucial for a New Drug Application filing anticipated around mid-2026.
Additionally, Xenon is entering a period rich with data and catalysts, which could further enhance its market position. The potential competition from BioHaven Pharmaceuticals’ Kv7 channel modulator, BHV-7000, is also being closely monitored, with results expected from their trials in the latter half of 2025 and the first half of 2026. This competitive landscape, combined with Xenon’s strategic progress, supports the Buy rating and the price target of $55.