Monday, October 24, 2016 3:56:26 AM
Since early August, three analyst firms have reiterated or initiated Buy ratings on this small biotech concern based in Canada. Price targets proffered range from $13 to $20 a share. Guggenheim is the most optimistic on Xenon with a $20 price target. Its analyst noted three reasons to be positive on the firm.
"1. XEN801 addresses an unmet need within the, large, ~$3.7B acne market and could present a novel mechanism of action to treat acne. The three mechanisms of action most commonly used to treat acne have been available for over 30 years. That said, innovative therapies launched over the past few decades have resulted in significant sales. This gives us confidence that XEN801 sales could exceed consensus expectations if it is approved.
2. The pain market needs safer drugs, outside of opioids, which XENE's Nav1.7 blockers could address. The government and the FDA's desire to reduce the abuse of opioids supports the development of novel pain drugs such as XENE's Nav1.7 blockers. We believe XENE and its partners for these drugs are well positioned to benefit from initiatives to move the market away from opioids.
3. There is a free call option on XENE's approved drug, Glybera, and other pipeline assets such as TV-45070 and Nav1.6, among others. Some of these assets could be monetized through partnerships"
Phase II readouts for XEN801 for the treatment of acne is due out inthe first quarter of 2017 and a Phase II readout for TV-45070 against Postherpetic neuralgia should hit in the first half of 2017. The company has just a $125 million market capitalization, positive analyst support and a couple of definable upcoming catalysts. One has to like Xenon's risk/reward profile over the next few quarters.
Recent XENE News
- Xenon Showcases Azetukalner Data at 15th European Epilepsy Congress • GlobeNewswire Inc. • 09/09/2024 12:30:00 PM
- Xenon Expands Leadership Team with Matthew D. Ronsheim, Ph.D. as Chief Operating Officer • GlobeNewswire Inc. • 08/12/2024 12:30:00 PM
- Form S-3ASR - Automatic shelf registration statement of securities of well-known seasoned issuers • Edgar (US Regulatory) • 08/09/2024 08:57:10 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 08/08/2024 08:36:43 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/08/2024 08:08:08 PM
- Xenon Reports Q2 2024 Financial Results and Business Update • GlobeNewswire Inc. • 08/08/2024 08:01:00 PM
- Xenon to Report Q2 2024 Financial Results on August 8, 2024 • GlobeNewswire Inc. • 08/01/2024 08:01:00 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 07/13/2024 01:44:44 AM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 06/12/2024 09:32:33 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/05/2024 09:42:40 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/05/2024 09:42:24 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/05/2024 09:42:11 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/05/2024 09:41:52 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 06/05/2024 09:30:44 PM
- Form S-8 - Securities to be offered to employees in employee benefit plans • Edgar (US Regulatory) • 06/05/2024 08:22:18 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 06/05/2024 08:12:34 PM
- Xenon Pharmaceuticals to Present at the Goldman Sachs 45th Annual Global Healthcare Conference • GlobeNewswire Inc. • 06/05/2024 08:01:00 PM
- Xenon Pharmaceuticals Presents Data from Phase 2 X-NOVA Clinical Trial of Azetukalner in Major Depressive Disorder at the American Society of Clinical Psychopharmacology 2024 Annual Meeting • GlobeNewswire Inc. • 05/28/2024 12:30:00 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 05/09/2024 08:35:48 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/09/2024 08:09:29 PM
- Xenon Pharmaceuticals Reports First Quarter 2024 Financial Results and Provides Corporate Update • GlobeNewswire Inc. • 05/09/2024 08:01:00 PM
- Xenon Pharmaceuticals to Present at the BofA Securities Health Care Conference 2024 • GlobeNewswire Inc. • 05/08/2024 08:01:00 PM
- Xenon Pharmaceuticals to Present at the 2024 RBC Capital Markets Global Healthcare Conference • GlobeNewswire Inc. • 05/07/2024 08:01:00 PM
- Xenon Pharmaceuticals Announces Conference Call and Webcast to Discuss First Quarter 2024 Financial Results and Provide Corporate Update • GlobeNewswire Inc. • 05/02/2024 08:01:00 PM
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