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FDA approval Biotech News.

|Includes:GlaxoSmithKline (GSK), XNPT

 

Wedbush Reiterates OP Rating, $23 PT On XNPT


By BenzingaStaffL
April 07, 2011 7:49 AM
Wedbush is reiterating its OP rating and $23 PT on shares of XenoPort, Inc. (NASDAQ: XNPT).

XenoPort closed Wednesday at $6.38.

“Our price target of $23/share is derived from a sum of the parts valuation,” Wedbush writes. “We do not include the potential for ex-U.S. royalties for any products, the $290 million in sale-based milestones for XP-13512, or the remaining pre-commercialization milestones.”

Stocks: GSK, XNPT