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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

Jan 2016Credit SuisseMaintainsUnderperform
Jan 2016Credit SuisseInitiates Coverage onUnderperform
Jan 2015JefferiesMaintainsBuy

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