RBC Capital analyst Brian Abrahams lowered the firm’s price target on Xenon Pharmaceuticals (XENE) to $55 from $58 and keeps an Outperform rating on the shares. The slight timeline slippage for the company’s first phase 3 azetukalner epilepsy data to early-2026 from the second half of 2025 is slightly disappointing, but the firm still sees a favorable setup going in given solid phase 2 data, good historical translatability, and key opinion leader / survey work as well as the recent branded drug launch precedents that suggest a meaningful $1.2B revenue opportunity, the analyst tells investors in a research note.
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