Xenon Pharmaceuticals (NASDAQ:XENE) Given New $48.00 Price Target at Wells Fargo & Company

by · The Cerbat Gem

Xenon Pharmaceuticals (NASDAQ:XENE – Get Free Report) had its target price upped by equities research analysts at Wells Fargo & Company from $44.00 to $48.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the biopharmaceutical company’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 9.48% from the stock’s current price.

XENE has been the topic of several other reports. Chardan Capital upgraded Xenon Pharmaceuticals to a “strong-buy” rating in a research note on Wednesday, November 19th. Cantor Fitzgerald restated an “overweight” rating and set a $55.00 target price on shares of Xenon Pharmaceuticals in a research report on Tuesday, November 4th. Royal Bank Of Canada boosted their price target on Xenon Pharmaceuticals from $55.00 to $58.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 4th. Needham & Company LLC reaffirmed a “buy” rating and set a $55.00 price target on shares of Xenon Pharmaceuticals in a research note on Tuesday, November 4th. Finally, William Blair reissued an “outperform” rating on shares of Xenon Pharmaceuticals in a research note on Tuesday, October 7th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Xenon Pharmaceuticals has an average rating of “Buy” and an average price target of $54.64.

Get Our Latest Analysis on XENE

Xenon Pharmaceuticals Stock Performance

Shares of XENE traded up $0.41 during midday trading on Thursday, hitting $43.85. 412,809 shares of the stock were exchanged, compared to its average volume of 850,700. Xenon Pharmaceuticals has a 52-week low of $26.74 and a 52-week high of $46.60. The stock has a fifty day simple moving average of $41.50 and a 200 day simple moving average of $36.74. The firm has a market cap of $3.39 billion, a P/E ratio of -11.27 and a beta of 1.03.

Xenon Pharmaceuticals (NASDAQ:XENE – Get Free Report) last announced its quarterly earnings data on Monday, November 3rd. The biopharmaceutical company reported ($1.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.16) by $0.01. Xenon Pharmaceuticals’s revenue for the quarter was up .0% on a year-over-year basis. During the same period last year, the firm earned ($0.81) earnings per share. As a group, equities research analysts forecast that Xenon Pharmaceuticals will post -3.1 EPS for the current fiscal year.

Insider Activity

In other Xenon Pharmaceuticals news, CEO Ian Mortimer sold 10,830 shares of the business’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $45.73, for a total transaction of $495,255.90. Following the completion of the sale, the chief executive officer directly owned 6,000 shares in the company, valued at $274,380. The trade was a 64.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders sold 50,302 shares of company stock worth $2,150,928. 4.07% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Xenon Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd acquired a new position in shares of Xenon Pharmaceuticals during the first quarter valued at $30,000. Fox Run Management L.L.C. increased its position in shares of Xenon Pharmaceuticals by 31.9% in the first quarter. Fox Run Management L.L.C. now owns 11,372 shares of the biopharmaceutical company’s stock worth $382,000 after acquiring an additional 2,751 shares in the last quarter. Aberdeen Group plc raised its holdings in shares of Xenon Pharmaceuticals by 42.4% during the first quarter. Aberdeen Group plc now owns 404,154 shares of the biopharmaceutical company’s stock valued at $13,559,000 after acquiring an additional 120,255 shares during the period. Wellington Management Group LLP boosted 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 worth $127,128,000 after purchasing an additional 11,586 shares during the period. Finally, EntryPoint Capital LLC purchased a new position in Xenon Pharmaceuticals during the 1st quarter worth approximately $298,000. 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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