Wedbush Initiates a Buy Rating on Xenon (XENE)

Xenon (XENEResearch Report) received a Buy rating and a $23.00 price target from Wedbush analyst Laura Chico on March 24. The company’s shares closed last Monday at $11.25.

According to TipRanks.com, Chico is a 1-star analyst with an average return of -7.0% and a 40.9% success rate. Chico covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co, Ultragenyx Pharmaceutical, and Denali Therapeutics.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Xenon with a $23.67 average price target, a 103.7% upside from current levels. In a report issued on March 10, Stifel Nicolaus also maintained a Buy rating on the stock with a $23.00 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 284.3K.

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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.