In a report released today, Serge Belanger from Needham maintained a Buy rating on Xenon (XENE), with a price target of $22.00. The company’s shares closed last Friday at $10.97.
According to TipRanks.com, Belanger is a 2-star analyst with an average return of 0.6% and a 40.6% success rate. Belanger covers the Healthcare sector, focusing on stocks such as Amphastar Pharmaceuticals, Collegium Pharmaceutical, and KalVista Pharmaceuticals.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Xenon with a $23.00 average price target.
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The company has a one-year high of $18.45 and a one-year low of $7.00. Currently, Xenon has an average volume of 104.5K.
Based on the recent corporate insider activity of 27 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. Last month, Gary Patou, a Director at XENE bought 2,057 shares for a total of $7,734.
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Xenon Pharmaceuticals, Inc. engages in discovering and developing therapeutics to improve the lives of patients with neurological disorders. It focuses on the treatment of epilepsy. Its products include XEN496, XEN1101, XEN901, and XEN007. The company was founded by Simon Neil Pimstone, Johannes J. P. Kastelein, and Michael R. Hayden on November 5, 1996 and is headquartered in Burnaby, Canada.
