Xenon Pharmaceuticals' (XENE) "Buy" Rating Reiterated 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.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report)'s stock had its "buy" rating reaffirmed by analysts at Chardan Capital in a note issued to investors on Tuesday,Benzinga reports. They presently have a $55.00 price target on the biopharmaceutical company's stock. Chardan Capital's price target would suggest a potential upside of 52.82% from the company's current price.

XENE has been the topic of a number of other reports. Wedbush boosted their target price on Xenon Pharmaceuticals from $42.00 to $43.00 and gave the stock an "outperform" rating in a research report on Tuesday. The Goldman Sachs Group decreased their target price on Xenon Pharmaceuticals from $60.00 to $52.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Wall Street Zen cut Xenon Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Royal Bank Of Canada lowered their price objective on Xenon Pharmaceuticals from $57.00 to $55.00 and set an "outperform" rating for the company in a research note on Tuesday. Finally, Evercore ISI began coverage on Xenon Pharmaceuticals in a report on Wednesday, May 14th. They issued an "outperform" rating and a $55.00 target price for the company. 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.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $53.20.

Xenon Pharmaceuticals Stock Up 5.5%

Shares of Xenon Pharmaceuticals stock traded up $1.88 on Tuesday, reaching $35.99. The company's stock had a trading volume of 1,992,126 shares, compared to its average volume of 896,078. The company has a market capitalization of $2.76 billion, a price-to-earnings ratio of -11.14 and a beta of 1.16. The firm's fifty day simple moving average is $32.06 and its two-hundred day simple moving average is $34.05. 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 posted its 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 period last year, the company earned ($0.75) earnings per share. As a group, research analysts predict that Xenon Pharmaceuticals will post -3.1 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of XENE. Northern Trust Corp grew its holdings in Xenon Pharmaceuticals by 51.6% in the fourth quarter. Northern Trust Corp now owns 65,783 shares of the biopharmaceutical company's stock valued at $2,579,000 after purchasing an additional 22,377 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of Xenon Pharmaceuticals by 39.1% in the fourth quarter. Ameriprise Financial Inc. now owns 92,350 shares of the biopharmaceutical company's stock worth $3,620,000 after acquiring an additional 25,967 shares during the last quarter. Mutual of America Capital Management LLC acquired a new stake in shares of Xenon Pharmaceuticals in the first quarter worth approximately $1,636,000. Bank of New York Mellon Corp boosted its stake in shares of Xenon Pharmaceuticals by 439.0% in the first quarter. Bank of New York Mellon Corp now owns 251,147 shares of the biopharmaceutical company's stock worth $8,426,000 after acquiring an additional 204,550 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Xenon Pharmaceuticals by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 69,529 shares of the biopharmaceutical company's stock worth $2,726,000 after acquiring an additional 720 shares during the last quarter. 95.45% of the stock is currently owned by hedge funds and other 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.

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