Morgan Stanley (MS) Analysts Begin Coverage on Xenoport Inc. (XNPT)
Friday, August 26, 2021 1:35 PM



Equities research analysts at Morgan Stanley (NYSE: MS) initiated coverage on shares of Xenoport Inc. (NASDAQ: XNPT) in a research note to investors on Friday. The analysts set an "equal weight" rating and a $7.00 price target on the stock.

Separately, analysts at Zacks Investment Research downgraded shares of Xenoport Inc. from an "outperform" rating to a "neutral" rating in a research note to investors on Thursday, August 11st.

Shares of Xenoport Inc. traded up 0.15% during mid-day trading on Monday, hitting $6.90. Xenoport Inc. has a 52 week low of $5.63 and a 52 week high of $11.34. The stock's 50-day moving average is $7.15 and its 200-day moving average is $7.32. The company has a market cap of $244.5 million.

Xenoport Inc. last announced its quarterly results on Wednesday, August 3rd. The company reported $0.55 earnings per share (EPS) for the previous quarter, beating the Thomson Reuters consensus estimate of ($0.23) EPS by $0.78. The company’s quarterly revenue was up 7380.0% on a year-over-year basis. On average, analysts predict that Xenoport Inc. will post $-0.28 EPS next quarter.

XenoPort, Inc. is a biopharmaceutical company focused on developing and commercializing a portfolio of internally discovered product candidates, which utilizes the body’s natural nutrient transport mechanisms to improve the therapeutic benefits of existing drugs. The product candidates referred to as Transported Prodrugs are created by modifying the chemical structure of marketed drugs, referred to as parent drugs, and are designed to correct limitations in the oral absorption, distribution and/or metabolism of the parent drug. The product candidate, XP13512 (gabapentin enacarbil), is licensed to Astellas Pharma Inc. in Japan and five Asian countries and to Glaxo Group Limited (GSK), in the United States and all other regions globally. Horizant has completed the Phase II clinical trials for management of post-herpetic neuralgia (PHN) in the United States, and is being evaluated as a prophylactic therapy for migraine headaches in a Phase II b clinical trial.

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