Baird analyst Brian Skorney initiated coverage of Xenon Pharmaceuticals with an Outperform rating and $63 price target. The company’s XEN1101 is a rare asset that has shown consistency in neuropsychiatric indications. and offers some of the best anti-seizure data in a well tolerated convenient daily pill, the analyst tells investors in a research note. The firm says that as an epilepsy drug, it is a “pretty low risk $1B-plus drug.”
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