UPDATE: Deutsche Bank Reiterates Buy Rating, Raises PT on XenoPort
In a report published Friday, Deutsche Bank reiterated its Buy rating on XenoPort (NASDAQ: XNPT), and raised its price target from $10.00 to $12.00.
Deutsche Bank noted, “Maintain Buy following positive initial clinical data for XP'829. XenoPort's transporter technology platform potentially offers a deep pipeline of opportunities, including XP'986 for spasticity, XP'829 (“BG12” like compound), and recently launched Regnite (Astellas) in Japan, etc. Hence, we continue to view XenoPort as an attractive investment opportunity despite the ongoing dispute over Horizant with GSK.”
XenoPort closed on Thursday at $11.15.
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