Wells Fargo Assumes Xenon Pharmaceuticals (XENE) at Overweight

Wells Fargo analyst Benjamin Burnett assumes coverage on Xenon Pharmaceuticals (NASDAQ: XENE) with a Overweight rating and a price target of $48.00.

The analyst comments: "We are assuming coverage of XENE at Overweight, as we think azetukalner is likely to succeed in X-TOLE2 given strong Ph2 data. We like that the 10mg dose worked in Ph2, implying some room for efficacy pullback (or placebo out-performance) in Ph3.
XENE expects the readout of its Ph3 X-TOLE2 study involving lead asset, azetukalner, in Focal Onset Seizures (FOS) in early 2026. We think consensus leans positive, and that many resonate with the strength of the Ph2. However, discontinuations were notable in Ph2, and we also think expectations were softened somewhat by the longer than expected Ph3 enrollment timeline."

For an analyst ratings summary and ratings history on Xenon Pharmaceuticals click here. For more ratings news on Xenon Pharmaceuticals click here.

Shares of Xenon Pharmaceuticals closed at $39.30 yesterday.

You May Also Be Interested In

• Berenberg Starts Alm Brand A/S (ALMB:DC) at Hold
• KeyBanc Downgrades Apple (AAPL) to Underweight
• TD Cowen Assumes MTY Food Group Inc. (MTY:CN) (MTYFF) at Hold