Xenon Pharmaceuticals price target raised to $58 from $56 at RBC Capital

RBC Capital raised the firm’s price target on Xenon Pharmaceuticals (XENE) to $58 from $56 and keeps an Outperform rating on the shares after its Q4 results. The company’s Azutekalner studies in focal epilepsy remain on track for what the firm continues to see as a highly likely to succeed readout in the second half of the year and what can unlock a $1B+ opportunity in epilepsy, the analyst tells investors in a research note. Additional investigator MDD data is also imminent in the first half of 2025, which could highlight potential expansion opportunities as well as underscore the drug’s mood benefits, RBC adds.