Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) was downgraded by equities researchers at StockNews.com from a "hold" rating to a "sell" rating in a research note issued to investors on Wednesday.
Other equities research analysts have also issued reports about the stock. Evercore ISI assumed coverage on shares of Xenon Pharmaceuticals in a research note on Wednesday, May 14th. They set an "outperform" rating and a $55.00 price target on the stock. Royal Bank of Canada dropped their price objective on shares of Xenon Pharmaceuticals from $58.00 to $55.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. Wells Fargo & Company dropped their price objective on shares of Xenon Pharmaceuticals from $50.00 to $47.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 13th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Xenon Pharmaceuticals in a research note on Tuesday, February 11th. They issued a "buy" rating and a $67.00 price objective on the stock. Finally, William Blair restated an "outperform" rating on shares of Xenon Pharmaceuticals in a research note on Monday, May 5th. One investment analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $54.82.
Read Our Latest Research Report on XENE
Xenon Pharmaceuticals Price Performance
Shares of NASDAQ:XENE opened at $31.43 on Wednesday. The company's fifty day moving average price is $33.93 and its 200 day moving average price is $37.79. Xenon Pharmaceuticals has a 12 month low of $26.74 and a 12 month high of $46.00. The firm has a market capitalization of $2.41 billion, a P/E ratio of -11.15 and a beta of 1.21.
Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The biopharmaceutical company reported ($0.83) EPS for the quarter, topping the consensus estimate of ($0.90) by $0.07. The company had revenue of $7.50 million for the quarter, compared to analyst estimates of $1.64 million. During the same quarter in the prior year, the business earned ($0.62) earnings per share. On average, sell-side analysts anticipate that Xenon Pharmaceuticals will post -3.1 EPS for the current year.
Institutional Trading of Xenon Pharmaceuticals
Several hedge funds and other institutional investors have recently made changes to their positions in XENE. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Xenon Pharmaceuticals in the first quarter valued at about $30,000. GF Fund Management CO. LTD. purchased a new stake in shares of Xenon Pharmaceuticals in the fourth quarter valued at about $63,000. Quarry LP purchased a new stake in shares of Xenon Pharmaceuticals in the fourth quarter valued at about $78,000. Blue Trust Inc. grew its position in Xenon Pharmaceuticals by 140.3% during the fourth quarter. Blue Trust Inc. now owns 2,422 shares of the biopharmaceutical company's stock worth $95,000 after buying an additional 1,414 shares during the period. Finally, Avior Wealth Management LLC acquired a new position in Xenon Pharmaceuticals during the fourth quarter worth about $101,000. Hedge funds and other institutional investors own 95.45% of the company's stock.
Xenon Pharmaceuticals Company Profile
(
Get Free Report)
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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