Xenon Pharmaceuticals' (XENE) Buy Rating Reaffirmed at Chardan Capital

Key Points

• Analysts at Chardan Capital have reiterated a "buy" rating for Xenon Pharmaceuticals (XENE), setting a price target of $55.00, suggesting a potential upside of 52.82% from its current price.
• Xenon Pharmaceuticals' stock experienced a significant increase of 5.5%, closing at $35.99, driven by higher trading volume compared to average levels.
• Despite the positive outlook from some analysts, one research firm downgraded Xenon's rating to sell, highlighting mixed sentiments within the market regarding the company's performance.

Chardan Capital reiterated their buy rating on shares of Xenon Pharmaceuticals (NASDAQ:XENE - Free Report) in a research report report published on Tuesday,Benzinga reports. Chardan Capital currently has a $55.00 price objective on the biopharmaceutical company's stock.

Several other research firms have also recently weighed in on XENE. Wedbush raised their target price on shares of Xenon Pharmaceuticals from $42.00 to $43.00 and gave the company an "outperform" rating in a research note on Tuesday, August 12th. The Goldman Sachs Group decreased their price target on Xenon Pharmaceuticals from $60.00 to $52.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Wall Street Zen downgraded shares of Xenon Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. William Blair restated an "outperform" rating on shares of Xenon Pharmaceuticals in a report on Monday, May 5th. Finally, Royal Bank Of Canada reduced their price objective on Xenon Pharmaceuticals from $57.00 to $55.00 and set an "outperform" rating on the stock in a report on Tuesday, August 12th. One research analyst has rated the stock with a sell rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $53.20.

Xenon Pharmaceuticals Price Performance

XENE traded up $0.27 during trading on Tuesday, hitting $38.23. 820,100 shares of the stock traded hands, compared to its average volume of 1,039,957. The firm has a 50-day moving average of $32.59 and a 200 day moving average of $33.97. 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 $2.95 billion, a P/E ratio of -10.77 and a beta of 1.16.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last issued its quarterly 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 prior year, the firm earned ($0.75) EPS. As a group, equities analysts predict that Xenon Pharmaceuticals will post -3.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Driehaus Capital Management LLC raised its stake in shares of Xenon Pharmaceuticals by 1.4% in the 1st quarter. Driehaus Capital Management LLC now owns 4,584,859 shares of the biopharmaceutical company's stock worth $153,822,000 after buying an additional 64,264 shares in the last quarter. Wellington Management Group LLP increased its stake in Xenon Pharmaceuticals by 0.3% in the 1st quarter. Wellington Management Group LLP now owns 3,789,197 shares of the biopharmaceutical company's stock valued at $127,128,000 after buying an additional 11,586 shares during the period. Braidwell LP raised its holdings in shares of Xenon Pharmaceuticals by 33.0% during the second quarter. Braidwell LP now owns 3,605,029 shares of the biopharmaceutical company's stock worth $112,837,000 after acquiring an additional 895,154 shares in the last quarter. Commodore Capital LP grew its stake in shares of Xenon Pharmaceuticals by 30.1% in the 2nd quarter. Commodore Capital LP now owns 3,025,000 shares of the biopharmaceutical company's stock valued at $94,682,000 after buying an additional 700,000 shares in the last quarter. Finally, Janus Henderson Group PLC raised its holdings in shares of Xenon Pharmaceuticals by 12.3% during the 4th quarter. Janus Henderson Group PLC now owns 2,866,755 shares of the biopharmaceutical company's stock valued at $112,425,000 after purchasing an additional 314,363 shares in the last quarter. 95.45% of the stock is currently owned by institutional investors.

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.