Stifel lowered the firm’s price target on Xenon Pharmaceuticals (XENE) to $60 from $62 and keeps a Buy rating on the shares following Q1 earnings. Xenon announced a slight delay to Phase 3 azetukalner topline data, as completion of enrollment is expected in the “next few months,” pushing the readout to early 2026 from the second half of 2025. While this delay is “disappointing and could pressure the stock modestly,” a few months “isn’t a big deal in the grand scheme of things,” says the analyst, who still thinks azetukalner is a “blockbuster potential drug” with a high possibility of success in epilepsy and optionality elsewhere.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on XENE:
- Xenon Pharmaceuticals price target lowered to $55 from $58 at RBC Capital
- Xenon Pharmaceuticals price target lowered to $47 from $50 at Wells Fargo
- Confident Buy Rating for Xenon Amid X-TOLE2 Study Delays and Promising Azetukalner Results
- Xenon Pharmaceuticals Advances Clinical Programs Amid Financial Loss
- Xenon Pharmaceuticals: Strong Buy Rating Amid Promising Clinical Trials and Financial Stability
Looking for a trading platform? Check out TipRanks' Best Online Brokers guide, and find the ideal broker for your trades.
Report an Issue