Guggenheim raised the firm’s price target on Xenon Pharmaceuticals to $62 from $49 and keeps a Buy rating on the shares. The firm updated its model to reflect reported financial results and added the Major Depressive Disorder, or MDD, indication to its valuation after the company noted it has scheduled the “end-of-Phase 2” meeting with the FDA in April to support the initiation of a XEN1101 Phase 3 program in MDD.
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