StockNews.com upgraded shares of Xenon Pharmaceuticals (NASDAQ:XENE - Free Report) from a sell rating to a hold rating in a research report released on Thursday.
Several other research analysts also recently weighed in on XENE. Royal Bank of Canada reissued an "outperform" rating on shares of Xenon Pharmaceuticals in a research note on Friday, February 28th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Xenon Pharmaceuticals in a research note on Tuesday, February 11th. They issued a "buy" rating and a $67.00 target price for the company. HC Wainwright reissued a "buy" rating and issued a $53.00 target price on shares of Xenon Pharmaceuticals in a research note on Monday, February 24th. William Blair reaffirmed an "outperform" rating on shares of Xenon Pharmaceuticals in a research note on Friday, February 28th. Finally, The Goldman Sachs Group dropped 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 note on Thursday, April 17th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat.com, Xenon Pharmaceuticals currently has a consensus rating of "Moderate Buy" and an average target price of $56.78.
Read Our Latest Report on Xenon Pharmaceuticals
Xenon Pharmaceuticals Stock Performance
Xenon Pharmaceuticals stock traded up $0.53 during midday trading on Thursday, reaching $38.37. 944,054 shares of the company were exchanged, compared to its average volume of 445,962. The firm's 50-day simple moving average is $34.77 and its 200-day simple moving average is $38.64. Xenon Pharmaceuticals has a 1 year low of $26.74 and a 1 year high of $46.00. The company has a market capitalization of $2.94 billion, a price-to-earnings ratio of -13.61 and a beta of 1.21.
Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last announced its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.84) earnings per share for the quarter, beating the consensus estimate of ($0.89) by $0.05. On average, analysts forecast that Xenon Pharmaceuticals will post -3.1 EPS for the current fiscal year.
Hedge Funds Weigh In On Xenon Pharmaceuticals
A number of institutional investors and hedge funds have recently bought and sold shares of XENE. State Street Corp boosted its holdings in Xenon Pharmaceuticals by 13.2% in the 3rd quarter. State Street Corp now owns 279,513 shares of the biopharmaceutical company's stock worth $11,004,000 after acquiring an additional 32,701 shares during the period. Barclays PLC boosted its holdings in Xenon Pharmaceuticals by 1,275.5% in the 3rd quarter. Barclays PLC now owns 14,993 shares of the biopharmaceutical company's stock worth $590,000 after acquiring an additional 13,903 shares during the period. JPMorgan Chase & Co. boosted its holdings in Xenon Pharmaceuticals by 1,263.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 976,783 shares of the biopharmaceutical company's stock worth $38,456,000 after acquiring an additional 905,129 shares during the period. Harbor Capital Advisors Inc. boosted its holdings in Xenon Pharmaceuticals by 3.7% in the 4th quarter. Harbor Capital Advisors Inc. now owns 49,818 shares of the biopharmaceutical company's stock worth $1,953,000 after acquiring an additional 1,755 shares during the period. Finally, Elmwood Wealth Management Inc. boosted its holdings in Xenon Pharmaceuticals by 44.7% in the 4th quarter. Elmwood Wealth Management Inc. now owns 11,007 shares of the biopharmaceutical company's stock worth $431,000 after acquiring an additional 3,400 shares during the period. Hedge funds and other institutional investors own 95.45% of the company's stock.
Xenon Pharmaceuticals Company Profile
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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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