Xenon Pharmaceuticals (NASDAQ:XENE) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of Xenon Pharmaceuticals (NASDAQ:XENE - Free Report) from a sell rating to a hold rating in a report published on Thursday.

Several other analysts also recently issued reports on the company. William Blair restated an "outperform" rating on shares of Xenon Pharmaceuticals in a report on Friday, February 28th. The Goldman Sachs Group reduced their price target on shares of Xenon Pharmaceuticals from $60.00 to $52.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Deutsche Bank Aktiengesellschaft began coverage on shares of Xenon Pharmaceuticals in a research note on Tuesday, February 11th. They set a "buy" rating and a $67.00 target price on the stock. HC Wainwright reiterated a "buy" rating and set a $53.00 price target on shares of Xenon Pharmaceuticals in a report on Monday, February 24th. Finally, Royal Bank of Canada restated an "outperform" rating on shares of Xenon Pharmaceuticals in a research report on Friday, February 28th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $56.78.

Xenon Pharmaceuticals Stock Up 0.4 %

XENE traded up $0.16 during trading on Thursday, reaching $37.78. The stock had a trading volume of 263,646 shares, compared to its average volume of 443,806. Xenon Pharmaceuticals has a 1-year low of $26.74 and a 1-year high of $46.00. The firm has a market capitalization of $2.89 billion, a price-to-earnings ratio of -13.38 and a beta of 1.21. The stock has a 50 day moving average of $34.80 and a two-hundred day moving average of $38.66.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($0.84) earnings per share for the quarter, beating the consensus estimate of ($0.89) by $0.05. On average, research analysts forecast that Xenon Pharmaceuticals will post -3.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of XENE. Prudential Financial Inc. grew its holdings in Xenon Pharmaceuticals by 177.7% in the 4th quarter. Prudential Financial Inc. now owns 39,000 shares of the biopharmaceutical company's stock valued at $1,529,000 after buying an additional 24,956 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Xenon Pharmaceuticals by 1,263.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 976,783 shares of the biopharmaceutical company's stock valued at $38,456,000 after purchasing an additional 905,129 shares during the last quarter. Barclays PLC boosted its holdings in Xenon Pharmaceuticals by 1,275.5% in the 3rd quarter. Barclays PLC now owns 14,993 shares of the biopharmaceutical company's stock valued at $590,000 after purchasing an additional 13,903 shares during the period. Assenagon Asset Management S.A. grew its position in Xenon Pharmaceuticals by 12.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 238,522 shares of the biopharmaceutical company's stock worth $9,350,000 after purchasing an additional 26,235 shares during the last quarter. Finally, State Street Corp increased its holdings in shares of Xenon Pharmaceuticals by 13.2% during the 3rd quarter. State Street Corp now owns 279,513 shares of the biopharmaceutical company's stock worth $11,004,000 after purchasing an additional 32,701 shares during the period. 95.45% of the stock is currently owned by institutional investors and hedge funds.

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.