Deutsche Bank Reiterates Hold On XenoPort (XNPT)

Deutsche Bank is reiterating its Hold rating and $8 price target on shares of XenoPort XNPT. In a note to clients, Deutsche Bank writes, "While XenoPort and partner GSK now have an FDA action date for Horizant and a sound strategy for obtaining final approval, we continue to think that the approvability of this drug remains murky in light of concerns expressed in the complete response letter (CRL) last February. Moreover, XNPT's other two earlier-stage, development programs (‘986, ‘279) still contain a fair degree of clinical risk. Hence, we maintain our Hold rating on XNPT shares." Shares of XNPT gained 1 cent yesterday to close at $7.40.