Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report)'s stock had its "buy" rating reaffirmed by HC Wainwright in a research note issued on Thursday,Benzinga reports. They presently have a $53.00 price target on the biopharmaceutical company's stock. HC Wainwright's price target would indicate a potential upside of 34.35% from the stock's current price.
Several other equities analysts have also weighed in on the company. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $55.00 price objective on shares of Xenon Pharmaceuticals in a research note on Tuesday, September 3rd. William Blair upgraded shares of Xenon Pharmaceuticals to a "strong-buy" rating in a report on Friday, August 30th. Raymond James reiterated an "outperform" rating and set a $50.00 price objective on shares of Xenon Pharmaceuticals in a research note on Thursday, October 10th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $60.00 target price on shares of Xenon Pharmaceuticals in a research note on Wednesday, November 13th. Ten equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $56.90.
View Our Latest Analysis on Xenon Pharmaceuticals
Xenon Pharmaceuticals Price Performance
NASDAQ:XENE traded down $3.52 during trading hours on Thursday, reaching $39.45. 429,957 shares of the company were exchanged, compared to its average volume of 387,716. The firm has a market cap of $3.01 billion, a price-to-earnings ratio of -15.24 and a beta of 1.19. The stock has a 50 day simple moving average of $41.93 and a 200 day simple moving average of $40.41. Xenon Pharmaceuticals has a 52-week low of $35.53 and a 52-week high of $50.99.
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 the consensus estimate of ($0.82) by $0.01. During the same period in the previous year, the business earned ($0.73) earnings per share. On average, analysts predict that Xenon Pharmaceuticals will post -3.1 EPS for the current fiscal year.
Insiders Place Their Bets
In other Xenon Pharmaceuticals news, Director Gary Patou sold 4,891 shares of the firm's stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $41.08, for a total transaction of $200,922.28. Following the completion of the sale, the director now owns 23,573 shares in the company, valued at $968,378.84. This trade represents a 17.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 5.52% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Xenon Pharmaceuticals
Several institutional investors and hedge funds have recently made changes to their positions in XENE. FMR LLC increased its stake in shares of Xenon Pharmaceuticals by 2.2% in the third quarter. FMR LLC now owns 6,917,684 shares of the biopharmaceutical company's stock worth $272,349,000 after buying an additional 149,511 shares during the last quarter. Driehaus Capital Management LLC boosted its stake in Xenon Pharmaceuticals by 2.3% during the 2nd quarter. Driehaus Capital Management LLC now owns 4,419,472 shares of the biopharmaceutical company's stock valued at $172,315,000 after acquiring an additional 97,732 shares during the last quarter. Wellington Management Group LLP grew its holdings in Xenon Pharmaceuticals by 0.4% during the 3rd quarter. Wellington Management Group LLP now owns 3,843,447 shares of the biopharmaceutical company's stock worth $151,317,000 after acquiring an additional 15,226 shares in the last quarter. Braidwell LP increased its position in shares of Xenon Pharmaceuticals by 5.7% in the 3rd quarter. Braidwell LP now owns 2,707,255 shares of the biopharmaceutical company's stock worth $106,585,000 after purchasing an additional 146,682 shares during the last quarter. Finally, Janus Henderson Group PLC raised its stake in shares of Xenon Pharmaceuticals by 144.2% in the 3rd quarter. Janus Henderson Group PLC now owns 2,552,392 shares of the biopharmaceutical company's stock valued at $100,506,000 after purchasing an additional 1,507,135 shares in the last quarter. 95.45% of the stock is currently owned by hedge funds and other institutional investors.
Xenon Pharmaceuticals Company Profile
(
Get Free Report)
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.
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