Xenon Pharmaceuticals price target raised to $75 from $52 at Goldman Sachs

Goldman Sachs raised the firm’s price target on Xenon Pharmaceuticals (XENE) to $75 from $52 and keeps a Buy rating on the shares. Following positive Phase 3 X-TOLE2 results, Xenon emphasized azetukalner’s potential for premium pricing, broad physician adoption across specialists and general neurologists due to its novel mechanism and ease of use, and plans to file an NDA in Q3 with a potential U.S. launch by late 2027 or early 2028, the analyst tells investors in a research note. Management believes strong efficacy, even among heavily refractory patients, and possible mood benefits position the drug well for commercialization, with EU and rest of world timelines dependent on the ongoing X-TOLE3 study, the firm says.