Bloom Burton Upgrades Xenon Pharmaceuticals (NASDAQ:XENE) to "Strong-Buy"

Key Points

• Bloom Burton has upgraded Xenon Pharmaceuticals (NASDAQ:XENE) to a "strong-buy" rating as of Tuesday, indicating increased investor confidence in the company's performance.
• The firm has also projected significant losses for the company, estimating earnings of ($4.89) EPS for FY2026 and ($4.65) EPS for FY2027.
• Currently, Xenon Pharmaceuticals has an average rating of "Moderate Buy" among analysts, with a consensus price target set at $53.30.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) was upgraded by research analysts at Bloom Burton to a "strong-buy" rating in a research report issued to clients and investors on Tuesday,Zacks.com reports. Bloom Burton also issued estimates for Xenon Pharmaceuticals' FY2026 earnings at ($4.89) EPS and FY2027 earnings at ($4.65) EPS.

Several other research analysts have also recently issued reports on the company. William Blair reaffirmed an "outperform" rating on shares of Xenon Pharmaceuticals in a research report on Tuesday. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Xenon Pharmaceuticals in a research report on Saturday, September 27th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $55.00 target price on shares of Xenon Pharmaceuticals in a research report on Tuesday, September 2nd. Wells Fargo & Company initiated coverage on Xenon Pharmaceuticals in a research report on Wednesday, September 3rd. They issued an "overweight" rating and a $48.00 price objective on the stock. Finally, Chardan Capital reissued a "buy" rating and issued a $55.00 price objective on shares of Xenon Pharmaceuticals in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Xenon Pharmaceuticals presently has an average rating of "Moderate Buy" and a consensus price target of $53.30.

Xenon Pharmaceuticals Stock Down 1.0%

Shares of NASDAQ:XENE opened at $39.16 on Tuesday. The stock has a market cap of $3.02 billion, a price-to-earnings ratio of -11.03 and a beta of 1.14. Xenon Pharmaceuticals has a 12-month low of $26.74 and a 12-month high of $46.00. The business's 50 day moving average is $37.06 and its 200 day moving average is $34.12.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last announced its earnings results on Monday, August 11th. The biopharmaceutical company reported ($1.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.03) by ($0.04). During the same quarter in the prior year, the firm earned ($0.75) earnings per share. As a group, equities research analysts expect that Xenon Pharmaceuticals will post -3.1 earnings per share for the current year.

Insider Activity

In other Xenon Pharmaceuticals news, CEO Ian Mortimer sold 25,000 shares of the business's stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $40.16, for a total value of $1,004,000.00. Following the sale, the chief executive officer directly owned 31,302 shares in the company, valued at $1,257,088.32. The trade was a 44.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 4.07% of the stock is currently owned by insiders.

Institutional Trading of Xenon Pharmaceuticals

Several hedge funds have recently made changes to their positions in the company. Harbor Capital Advisors Inc. raised its stake in shares of Xenon Pharmaceuticals by 13.6% during the 1st quarter. Harbor Capital Advisors Inc. now owns 56,591 shares of the biopharmaceutical company's stock valued at $1,899,000 after purchasing an additional 6,773 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of Xenon Pharmaceuticals by 1.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 241,206 shares of the biopharmaceutical company's stock valued at $8,092,000 after purchasing an additional 2,684 shares during the period. GF Fund Management CO. LTD. raised its stake in shares of Xenon Pharmaceuticals by 21.9% during the 1st quarter. GF Fund Management CO. LTD. now owns 1,952 shares of the biopharmaceutical company's stock valued at $65,000 after purchasing an additional 351 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Xenon Pharmaceuticals by 439.0% during the 1st quarter. Bank of New York Mellon Corp now owns 251,147 shares of the biopharmaceutical company's stock valued at $8,426,000 after purchasing an additional 204,550 shares during the period. Finally, Mutual of America Capital Management LLC bought a new stake in shares of Xenon Pharmaceuticals during the 1st quarter valued at $1,636,000. 95.45% of the stock is currently owned by institutional investors.

About Xenon Pharmaceuticals

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.