Jefferies analyst Maury Raycroft reiterated a Buy rating on Xenon (NASDAQ: XENE) today and set a price target of $16. The company’s shares opened today at $12.05, close to its 52-week high of $12.15.
According to TipRanks.com, Raycroft is a 5-star analyst with an average return of 27.2% and a 59.3% success rate. Raycroft covers the Healthcare sector, focusing on stocks such as Karyopharm Therapeutics, Atara Biotherapeutics, and Intellia Therapeutics.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Xenon with a $15.50 average price target, which is a 28.6% upside from current levels. In a report issued on August 7, Stifel Nicolaus also reiterated a Buy rating on the stock with a $15 price target.
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Based on Xenon’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $7.8 million. In comparison, last year the company had a GAAP net loss of $7.38 million.
Based on the recent corporate insider activity of 23 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of XENE in relation to earlier this year. Most recently, in June 2018, Michael Tarnow, a Director at XENE bought 12,345 shares for a total of $42,353.
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Xenon Pharmaceuticals, Inc. is a biopharmaceutical company. It engages in discovering and developing a pipeline of differentiated therapeutics.
