Deutsche Bank Aktiengesellschaft Begins Coverage on Xenon Pharmaceuticals (NASDAQ:XENE)

Deutsche Bank Aktiengesellschaft initiated coverage on shares of Xenon Pharmaceuticals (NASDAQ:XENE - Free Report) in a research report released on Tuesday, MarketBeat.com reports. The firm issued a buy rating and a $67.00 price target on the biopharmaceutical company's stock.

A number of other brokerages also recently weighed in on XENE. Needham & Company LLC restated a "buy" rating and set a $60.00 target price on shares of Xenon Pharmaceuticals in a report on Wednesday, November 13th. HC Wainwright restated a "buy" rating and set a $53.00 target price on shares of Xenon Pharmaceuticals in a report on Thursday, December 12th. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Xenon Pharmaceuticals has a consensus rating of "Buy" and an average target price of $57.38.

Xenon Pharmaceuticals Trading Down 0.6 %

Shares of NASDAQ XENE traded down $0.25 during midday trading on Tuesday, reaching $39.01. The company's stock had a trading volume of 290,445 shares, compared to its average volume of 405,471. Xenon Pharmaceuticals has a fifty-two week low of $35.53 and a fifty-two week high of $50.99. The stock has a market capitalization of $2.97 billion, a price-to-earnings ratio of -13.85 and a beta of 1.20. The stock has a 50 day simple moving average of $39.74 and a 200-day simple moving average of $40.55.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last issued its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.81) earnings per share for the quarter, topping analysts' consensus estimates of ($0.82) by $0.01. During the same quarter last year, the company earned ($0.73) EPS. As a group, equities analysts anticipate that Xenon Pharmaceuticals will post -3.13 EPS for the current year.

Insider Transactions at Xenon Pharmaceuticals

In other news, CFO Sherry Aulin sold 18,709 shares of the company's stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $41.21, for a total value of $770,997.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Ian Mortimer sold 22,468 shares of the company's stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $40.20, for a total value of $903,213.60. Following the completion of the transaction, the chief executive officer now directly owns 31,302 shares of the company's stock, valued at $1,258,340.40. This represents a 41.79 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 62,383 shares of company stock valued at $2,535,891. 5.52% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Aquatic Capital Management LLC acquired a new stake in Xenon Pharmaceuticals during the 4th quarter valued at approximately $324,000. Lord Abbett & CO. LLC raised its holdings in Xenon Pharmaceuticals by 12.1% during the 4th quarter. Lord Abbett & CO. LLC now owns 194,971 shares of the biopharmaceutical company's stock worth $7,643,000 after purchasing an additional 20,986 shares during the last quarter. Voya Investment Management LLC raised its holdings in Xenon Pharmaceuticals by 32.3% during the 4th quarter. Voya Investment Management LLC now owns 62,415 shares of the biopharmaceutical company's stock worth $2,447,000 after purchasing an additional 15,250 shares during the last quarter. Eversept Partners LP bought a new position in Xenon Pharmaceuticals during the 4th quarter worth approximately $6,097,000. Finally, J. Safra Sarasin Holding AG bought a new position in Xenon Pharmaceuticals during the 4th quarter worth approximately $697,000. Institutional investors and hedge funds own 95.45% of the company's stock.

Xenon Pharmaceuticals Company Profile

Xenon Pharmaceuticals Inc, a neuroscience-focused biopharmaceutical company, engages in the development of therapeutics to treat patients with neurological disorders in Canada. Its clinical development pipeline includes XEN1101, a novel and potent Kv7 potassium channel opener, which is in Phase 3 clinical trials for the treatment of epilepsy and other neurological disorders.