Wells Fargo analyst Mohit Bansal lowered the firm’s price target on Xenon Pharmaceuticals (XENE) to $47 from $50 and keeps an Overweight rating on the shares. After enrollment completion was pushed back from the second half of 2024 and now top-line data pushed to early 2026, the firm can see investor concerns around X-TOLE2 program and lack of catalyst this year. Though not statistical significant, Mt. Sinai data was reassuring for MDD activity, Wells adds.
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