Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report)'s stock had its "buy" rating reiterated by equities researchers at Needham & Company LLC in a research report issued to clients and investors on Friday, Benzinga reports. They presently have a $62.00 target price on the biopharmaceutical company's stock. Needham & Company LLC's price objective points to a potential upside of 52.94% from the company's previous close.
A number of other brokerages also recently commented on XENE. Royal Bank of Canada reduced their price objective on Xenon Pharmaceuticals from $56.00 to $55.00 and set an "outperform" rating for the company in a research report on Friday, March 1st. Wedbush cut their target price on Xenon Pharmaceuticals from $51.00 to $50.00 and set an "outperform" rating on the stock in a research note on Friday. Citigroup decreased their target price on Xenon Pharmaceuticals from $62.00 to $60.00 and set a "buy" rating on the stock in a report on Friday. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $65.00 target price on shares of Xenon Pharmaceuticals in a research report on Wednesday, April 10th. One research analyst has rated the stock with a sell rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $59.11.
View Our Latest Analysis on Xenon Pharmaceuticals
Xenon Pharmaceuticals Stock Down 4.6 %
Shares of XENE stock traded down $1.95 during mid-day trading on Friday, hitting $40.54. 527,882 shares of the company's stock were exchanged, compared to its average volume of 390,433. Xenon Pharmaceuticals has a fifty-two week low of $27.99 and a fifty-two week high of $50.99. The stock has a market cap of $3.06 billion, a price-to-earnings ratio of -14.90 and a beta of 1.19. The stock has a 50-day simple moving average of $42.87 and a two-hundred day simple moving average of $41.52.
Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last released its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.62) EPS for the quarter, topping the consensus estimate of ($0.69) by $0.07. The firm had revenue of $1.00 million for the quarter. During the same period in the prior year, the company earned ($0.63) EPS. The business's revenue was up .0% on a year-over-year basis. As a group, analysts anticipate that Xenon Pharmaceuticals will post -3.04 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other news, EVP Sherrington Robin sold 7,137 shares of the company's stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $46.28, for a total transaction of $330,300.36. Following the completion of the transaction, the executive vice president now directly owns 8,398 shares of the company's stock, valued at approximately $388,659.44. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Xenon Pharmaceuticals news, Director Steven Gannon sold 13,000 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $46.28, for a total transaction of $601,640.00. Following the completion of the sale, the director now directly owns 2,000 shares of the company's stock, valued at approximately $92,560. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Sherrington Robin sold 7,137 shares of the firm's stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $46.28, for a total value of $330,300.36. Following the completion of the transaction, the executive vice president now directly owns 8,398 shares of the company's stock, valued at $388,659.44. The disclosure for this sale can be found here. 5.43% of the stock is owned by company insiders.
Institutional Investors Weigh In On Xenon Pharmaceuticals
A number of large investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC boosted its holdings in Xenon Pharmaceuticals by 414.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,014 shares of the biopharmaceutical company's stock valued at $47,000 after acquiring an additional 817 shares during the last quarter. Parallel Advisors LLC grew its position in shares of Xenon Pharmaceuticals by 51.2% during the fourth quarter. Parallel Advisors LLC now owns 1,125 shares of the biopharmaceutical company's stock worth $52,000 after acquiring an additional 381 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in Xenon Pharmaceuticals by 98.2% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,651 shares of the biopharmaceutical company's stock worth $56,000 after buying an additional 818 shares in the last quarter. PNC Financial Services Group Inc. bought a new position in Xenon Pharmaceuticals in the 4th quarter valued at about $91,000. Finally, 17 Capital Partners LLC bought a new stake in Xenon Pharmaceuticals during the first quarter worth approximately $122,000. Institutional investors and hedge funds own 95.45% of the company's stock.
Xenon Pharmaceuticals Company Profile
(
Get Free Report)
Xenon Pharmaceuticals Inc, a clinical-stage biopharmaceutical company, engages in developing therapeutics to treat patients with neurological disorders in Canada. Its clinical development pipeline includes XEN496, a Kv7 potassium channel opener that is Phase III clinical trials for the treatment of KCNQ2 developmental and epileptic encephalopathy; and XEN1101, a Kv7 potassium channel opener, which is in Phase II clinical trial for the treatment of epilepsy and other neurological disorders.
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