William Blair Reiterates Outperform Rating for Xenon Pharmaceuticals (NASDAQ:XENE)

William Blair reiterated their outperform rating on shares of Xenon Pharmaceuticals (NASDAQ:XENE - Free Report) in a report published on Monday,RTT News reports.

XENE has been the subject of several other reports. StockNews.com cut Xenon Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Friday, May 2nd. Deutsche Bank Aktiengesellschaft began coverage on Xenon Pharmaceuticals in a report on Tuesday, February 11th. They issued a "buy" rating and a $67.00 price target for the company. HC Wainwright reaffirmed a "buy" rating and issued a $53.00 price objective on shares of Xenon Pharmaceuticals in a research note on Monday, February 24th. The Goldman Sachs Group reduced their target price on shares of Xenon Pharmaceuticals from $60.00 to $52.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Finally, Royal Bank of Canada reiterated an "outperform" rating on shares of Xenon Pharmaceuticals in a report on Friday, February 28th. One analyst has rated the stock with a sell rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $56.60.

Xenon Pharmaceuticals Trading Down 1.3 %

NASDAQ XENE traded down $0.47 on Monday, reaching $34.86. 99,585 shares of the company were exchanged, compared to its average volume of 462,545. Xenon Pharmaceuticals has a fifty-two week low of $26.74 and a fifty-two week high of $46.00. The stock has a market capitalization of $2.67 billion, a P/E ratio of -12.36 and a beta of 1.21. The business's fifty day moving average price is $34.62 and its 200 day moving average price is $38.44.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($0.84) EPS for the quarter, topping the consensus estimate of ($0.89) by $0.05. Equities research analysts forecast that Xenon Pharmaceuticals will post -3.1 earnings per share for the current year.

Institutional Investors Weigh In On Xenon Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Prudential Financial Inc. raised its holdings in shares of Xenon Pharmaceuticals by 177.7% during the fourth quarter. Prudential Financial Inc. now owns 39,000 shares of the biopharmaceutical company's stock worth $1,529,000 after acquiring an additional 24,956 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Xenon Pharmaceuticals by 1,263.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 976,783 shares of the biopharmaceutical company's stock valued at $38,456,000 after purchasing an additional 905,129 shares during the last quarter. Barclays PLC raised its holdings in Xenon Pharmaceuticals by 1,275.5% during the third quarter. Barclays PLC now owns 14,993 shares of the biopharmaceutical company's stock valued at $590,000 after buying an additional 13,903 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Xenon Pharmaceuticals by 12.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 238,522 shares of the biopharmaceutical company's stock valued at $9,350,000 after acquiring an additional 26,235 shares in the last quarter. Finally, Avior Wealth Management LLC acquired a new stake in shares of Xenon Pharmaceuticals in the fourth quarter worth $101,000. Hedge funds and other institutional investors own 95.45% of the company's stock.

About Xenon Pharmaceuticals

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.