Wedbush Reiterates OP Rating, $23 PT On XNPT

Wedbush is reiterating its OP rating and $23 PT on shares of XenoPort, Inc.

. XenoPort closed Wednesday at $6.38. “Our price target of $23/share is derived from a sum of the parts valuation,” Wedbush writes. “We do not include the potential for ex-U.S. royalties for any products, the $290 million in sale-based milestones for XP-13512, or the remaining pre-commercialization milestones.”