UPDATE: Morgan Stanley Downgrades XenoPort on Recent Failures
In a report published on Tuesday, Morgan Stanley analyst David Friedman downgraded XenoPort (NASDAQ: XNPT) from Equal-Weight to Underweight and lowered the price target on the company from $3 to $2.
In the report, Morgan Stanley stated, "We are downgrading to UW post the recent Ph 3 AP failure. We do not believe Horizant sales will accelerate, and view ‘829 as a) early stage, b) likely a long time from the market, and c) not clearly differentiated in a competitive MS market."
XenoPort closed at $5.51 on Monday.
Latest Ratings for XNPT
| Date | Firm | Action | From | To |
|---|---|---|---|---|
| Jan 2016 | Credit Suisse | Maintains | Underperform | |
| Jan 2016 | Credit Suisse | Initiates Coverage on | Underperform | |
| Jan 2015 | Jefferies | Maintains | Buy |
View More Analyst Ratings for XNPT
View the Latest Analyst Ratings
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