In a report released on August 11, Marc Goodman from Leerink Partners reiterated a Buy rating on Xenon, with a price target of $50.00.
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Marc Goodman has given his Buy rating due to a combination of factors that highlight Xenon’s promising outlook. The company has successfully completed patient recruitment for the X-TOLE2 study, which is a significant milestone, and they are on track to release top-line data in early 2026. This progress is expected to be well-received by investors, potentially driving the stock price higher.
Additionally, Xenon is expanding its research into neuropsychiatric conditions with ongoing studies in major depressive disorder and a newly initiated study in bipolar depression. The company’s financial health is robust, with approximately $625 million in cash, which is projected to support operations until 2027. The strong Phase 2b data for azetukalner and its unique mechanism further bolster confidence in the company’s future prospects, making it a compelling investment opportunity.
In another report released on August 12, H.C. Wainwright also reiterated a Buy rating on the stock with a $53.00 price target.
XENE’s price has also changed moderately for the past six months – from $38.390 to $34.110, which is a -11.15% drop .