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Wells Fargo reiterates its buy rating on Xenon
Businessinsider
2h ago
Ai Focus
Bank of America analyst Benjamin Burnett maintained a 'Buy' rating on Xenon on October 16, setting a target price of $64. The article also mentioned that Wall Street's consensus rating for the stock is 'Strong Buy', with an average target price of $70.54; the company's GAAP net loss for the quarter ending June 30 was $110.74 million.
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Bank of America analyst Benjamin Burnett maintained a “buy” rating on Xenon on October 16th, setting a target price of $64.00. The company’s stock closed at $33.49 last Friday.

Burnett mainly covers the healthcare sector, with a focus on stocks including Liquidia Technologies, United Therapeutics, and Ultragenyx Pharmaceutical. According to the data from TipRanks, the average return rate of Burnett is -8.2%, and the success rate of its recommended stocks is 32.31%.

Currently, analysts have a consensus rating of "strong buy" for Xenon, with an average target price of $70.54, representing a potential upside of 110.63% from the current level. According to a report released on October 12th, Bank of America Securities also maintains a "buy" rating for the stock, with a target price of $77.00.

According to the latest financial report for the quarter ending June 30th as per Xenon, the company reported a quarterly net loss of $110.74 million for GAAP. In contrast, during the same period last year, the net loss was $84.71 million for GAAP.

Based on the trading activities of 27 company insiders recently, their sentiment towards this stock is generally positive. This indicates that in the past quarter, there has been an increase in the number of insiders purchasing XENE shares compared to earlier this year. Earlier this month, XENE's Chief Financial Officer Thomas Patrick Kelly purchased 15,000 shares for a total amount of $559,650.00.

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