Today’s most important initiations

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Wells Fargo initiated coverage on Xenon Pharmaceuticals (XENE) with an Overweight rating and a price target of $50.00, as it sees an upside with depression (MDD) data in 2023 for this otherwise de-risked epilepsy company. Shares surged more than 4% today.

Morgan Stanley resumed coverage on Unity Software (U) with an Equalweight rating and a price target of $27.50, as it sees a balanced risk-reward from here. According to the analysts, strong continued momentum in the Create graphics engine business seems likely to be offset by Operate/advertising weakness in the near term.

Jefferies assumed coverage on NIO (NIO) with a Buy rating and a price target of $11.27.

By Davit Kirakosyan

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