Xenon Pharmaceuticals (NASDAQ:XENE - Free Report) had its price objective cut by Royal Bank Of Canada from $57.00 to $55.00 in a research note released on Tuesday,Benzinga reports. They currently have an outperform rating on the biopharmaceutical company's stock.
A number of other brokerages have also commented on XENE. Wedbush boosted their price target on shares of Xenon Pharmaceuticals from $42.00 to $43.00 and gave the company an "outperform" rating in a research note on Tuesday. Needham & Company LLC reduced their target price on shares of Xenon Pharmaceuticals from $60.00 to $55.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. Wells Fargo & Company reduced their target price on shares of Xenon Pharmaceuticals from $50.00 to $47.00 and set an "overweight" rating for the company in a research note on Tuesday, May 13th. Evercore ISI began coverage on shares of Xenon Pharmaceuticals in a research note on Wednesday, May 14th. They issued an "outperform" rating and a $55.00 target price for the company. Finally, HC Wainwright reiterated a "buy" rating and issued a $53.00 target price on shares of Xenon Pharmaceuticals in a research note on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $53.20.
Check Out Our Latest Research Report on XENE
Xenon Pharmaceuticals Stock Up 0.7%
XENE stock traded up $0.27 during midday trading on Tuesday, reaching $38.23. 820,100 shares of the company's stock traded hands, compared to its average volume of 1,051,328. The company has a market cap of $2.95 billion, a price-to-earnings ratio of -10.77 and a beta of 1.16. The firm's fifty day moving average price is $32.59 and its 200-day moving average price is $34.06. Xenon Pharmaceuticals has a 52 week low of $26.74 and a 52 week high of $46.00.
Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last announced its quarterly earnings results on Monday, August 11th. The biopharmaceutical company reported ($1.07) EPS for the quarter, missing analysts' consensus estimates of ($1.03) by ($0.04). During the same quarter last year, the company posted ($0.75) EPS. Analysts forecast that Xenon Pharmaceuticals will post -3.1 earnings per share for the current year.
Hedge Funds Weigh In On Xenon Pharmaceuticals
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Farther Finance Advisors LLC purchased a new position in shares of Xenon Pharmaceuticals in the 2nd quarter worth about $25,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Xenon Pharmaceuticals in the 1st quarter worth about $30,000. Elevation Point Wealth Partners LLC purchased a new position in shares of Xenon Pharmaceuticals in the 2nd quarter worth about $32,000. GF Fund Management CO. LTD. purchased a new position in shares of Xenon Pharmaceuticals in the 4th quarter worth about $63,000. Finally, Quarry LP purchased a new position in shares of Xenon Pharmaceuticals in the 4th quarter worth about $78,000. 95.45% of the stock is owned by hedge funds and other institutional investors.
About Xenon Pharmaceuticals
(
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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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