Xenon (XENE) Receives a Buy from Leerink Partners

Leerink Partners analyst Marc Goodman maintained a Buy rating on Xenon (XENEResearch Report) today and set a price target of $28.00. The company’s shares closed last Monday at $17.92.

According to TipRanks.com, Goodman is a 4-star analyst with an average return of 5.9% and a 49.8% success rate. Goodman covers the Healthcare sector, focusing on stocks such as GW Pharma, Alkermes, and Biogen.

Xenon has an analyst consensus of Moderate Buy, with a price target consensus of $26.50, representing a 39.0% upside. In a report issued on February 23, Needham also maintained a Buy rating on the stock with a $22.00 price target.

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Based on Xenon’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $6.55 million and GAAP net loss of $8.86 million. In comparison, last year the company earned revenue of $3.5 million and had a GAAP net loss of $8.87 million.

Based on the recent corporate insider activity of 24 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, Michael R. Hayden, a Director at XENE bought 46,296 shares for a total of $134,258.

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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.