William Blair Believes Xenon (NASDAQ: XENE) Won’t Stop Here

By Ryan Adsit

William Blair analyst Tim Lugo maintained a Buy rating on Xenon (XENEResearch Report) on February 25. The company’s shares closed last Thursday at $19.77, close to its 52-week high of $20.73.

According to TipRanks.com, Lugo is a 5-star analyst with an average return of 20.8% and a 50.0% success rate. Lugo covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co, Collegium Pharmaceutical, and BioMarin Pharmaceutical.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Xenon with a $26.50 average price target, a 29.0% upside from current levels. 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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Xenon’s market cap is currently $653.9M and has a P/E ratio of -20.30. The company has a Price to Book ratio of 3.60.

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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.