Nexalin Technology (NXL, Financial) has achieved a significant milestone with its Gen-2 neurostimulation device by securing approval from the Institutional Review Board (IRB) in Brazil. This approval paves the way for a clinical trial that will investigate the device's effectiveness in treating anxiety disorders and chronic insomnia.
The research will take place at the Instituto de Psiquiatria do Hospital das Clinicas da Faculdade de Medicina da Universidade de Sao Paulo. This institution is recognized as one of the leading psychiatric research centers in Latin America, enhancing the credibility and significance of the study.
This development is a strategic step for Nexalin Technology as it seeks to expand the use of its neurostimulation device in international markets, potentially offering a new solution for individuals suffering from these mental health conditions.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 1 analysts, the average target price for Nexalin Technology Inc (NXL, Financial) is $5.00 with a high estimate of $5.00 and a low estimate of $5.00. The average target implies an upside of 185.71% from the current price of $1.75. More detailed estimate data can be found on the Nexalin Technology Inc (NXL) Forecast page.
Based on the consensus recommendation from 1 brokerage firms, Nexalin Technology Inc's (NXL, Financial) average brokerage recommendation is currently 2.0, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
