Xenon Pharmaceuticals (NASDAQ:XENE) Given New $43.00 Price Target at Wedbush

Key Points

• Wedbush has raised its price target on Xenon Pharmaceuticals from $42.00 to $43.00, indicating a potential upside of 17.57% from the current price, with an "outperform" rating.
• Multiple research firms have adjusted their ratings, with Goldman Sachs lowering its target from $60.00 to $52.00, while Chardan Capital reissued a "buy" rating with a $55.00 target.
• Xenon Pharmaceuticals reported a quarterly EPS of ($1.07), missing analysts' expectations, and has an average rating of "Moderate Buy" with a target price of $53.20 based on recent analyses.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) had its target price upped by research analysts at Wedbush from $42.00 to $43.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an "outperform" rating on the biopharmaceutical company's stock. Wedbush's target price indicates a potential upside of 17.57% from the company's current price.

Several other research firms have also recently issued reports on XENE. The Goldman Sachs Group lowered their price objective 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. Wells Fargo & Company lowered their price target on Xenon Pharmaceuticals from $50.00 to $47.00 and set an "overweight" rating for the company in a report on Tuesday, May 13th. Chardan Capital reissued a "buy" rating and issued a $55.00 price objective on shares of Xenon Pharmaceuticals in a research note on Tuesday, May 13th. William Blair restated an "outperform" rating on shares of Xenon Pharmaceuticals in a report on Monday, May 5th. Finally, Royal Bank Of Canada decreased their target price on Xenon Pharmaceuticals from $58.00 to $55.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. One analyst has rated the stock with a sell rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Xenon Pharmaceuticals presently has an average rating of "Moderate Buy" and an average target price of $53.20.

Xenon Pharmaceuticals Stock Up 7.2%

Shares of Xenon Pharmaceuticals stock opened at $36.58 on Tuesday. The stock's fifty day moving average is $32.06 and its two-hundred day moving average is $34.05. Xenon Pharmaceuticals has a 52 week low of $26.74 and a 52 week high of $46.00. The company has a market capitalization of $2.81 billion, a PE ratio of -11.32 and a beta of 1.16.

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

Institutional Investors Weigh In On Xenon Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in XENE. Farther Finance Advisors LLC purchased a new stake in shares of Xenon Pharmaceuticals during the second quarter valued at about $25,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Xenon Pharmaceuticals during the 1st quarter worth approximately $30,000. GF Fund Management CO. LTD. bought a new position in shares of Xenon Pharmaceuticals during the 4th quarter worth approximately $63,000. Quarry LP purchased a new stake in Xenon Pharmaceuticals during the fourth quarter valued at approximately $78,000. Finally, Amalgamated Bank acquired a new stake in Xenon Pharmaceuticals in the second quarter valued at approximately $81,000. Institutional investors own 95.45% of the company's stock.

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.

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