Wedbush Issues Pessimistic Forecast for Xenon Pharmaceuticals (NASDAQ:XENE) Stock Price

by · The Markets Daily

Xenon Pharmaceuticals (NASDAQ:XENE – Get Free Report) had its price objective dropped by analysts at Wedbush from $64.00 to $63.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has an “outperform” rating on the biopharmaceutical company’s stock. Wedbush’s price target points to a potential upside of 14.07% from the company’s current price.

XENE has been the topic of several other research reports. HC Wainwright increased their price target on shares of Xenon Pharmaceuticals from $53.00 to $74.00 and gave the stock a “buy” rating in a research report on Tuesday, March 10th. Stifel Nicolaus set a $66.00 price objective on shares of Xenon Pharmaceuticals in a research report on Tuesday, February 10th. JPMorgan Chase & Co. raised their target price on Xenon Pharmaceuticals from $60.00 to $62.00 and gave the company an “overweight” rating in a report on Friday, January 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Xenon Pharmaceuticals in a research note on Friday, January 9th. Finally, Wolfe Research started coverage on Xenon Pharmaceuticals in a report on Monday, February 23rd. They set an “outperform” rating and a $60.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Xenon Pharmaceuticals currently has an average rating of “Buy” and a consensus target price of $71.88.

View Our Latest Research Report on XENE

Xenon Pharmaceuticals Stock Down 4.6%

XENE stock opened at $55.23 on Monday. Xenon Pharmaceuticals has a 52 week low of $26.74 and a 52 week high of $63.95. The business has a 50-day simple moving average of $43.71 and a 200 day simple moving average of $41.96. The company has a market cap of $4.59 billion, a PE ratio of -12.67 and a beta of 0.91.

Xenon Pharmaceuticals (NASDAQ:XENE – Get Free Report) last announced its quarterly earnings data on Thursday, February 26th. The biopharmaceutical company reported ($1.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.20) by ($0.11). During the same period in the previous year, the business posted ($0.84) EPS. On average, analysts anticipate that Xenon Pharmaceuticals will post -3.1 EPS for the current fiscal year.

Insider Activity at Xenon Pharmaceuticals

In other Xenon Pharmaceuticals news, insider Christopher John Kenney sold 2,771 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $60.11, for a total value of $166,564.81. Following the sale, the insider owned 4,729 shares in the company, valued at $284,260.19. This trade represents a 36.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Andrea Difabio sold 2,607 shares of the business’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $60.11, for a total transaction of $156,706.77. Following the sale, the insider directly owned 4,893 shares in the company, valued at approximately $294,118.23. The trade was a 34.76% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 336,707 shares of company stock valued at $19,622,565 in the last quarter. Insiders own 4.07% of the company’s stock.

Institutional Investors Weigh In On Xenon Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of XENE. Goldman Sachs Group Inc. raised its position in Xenon Pharmaceuticals by 7.9% in the first quarter. Goldman Sachs Group Inc. now owns 442,732 shares of the biopharmaceutical company’s stock valued at $14,854,000 after purchasing an additional 32,486 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Xenon Pharmaceuticals by 73.6% during the second quarter. Bank of New York Mellon Corp now owns 436,020 shares of the biopharmaceutical company’s stock worth $13,647,000 after purchasing an additional 184,873 shares during the last quarter. ProShare Advisors LLC acquired a new position in shares of Xenon Pharmaceuticals in the second quarter valued at approximately $577,000. Geode Capital Management LLC increased its stake in shares of Xenon Pharmaceuticals by 1,294.2% in the second quarter. Geode Capital Management LLC now owns 970,343 shares of the biopharmaceutical company’s stock valued at $30,369,000 after buying an additional 900,746 shares during the period. Finally, Police & Firemen s Retirement System of New Jersey bought a new position in Xenon Pharmaceuticals in the 2nd quarter valued at approximately $543,000. Institutional investors own 95.45% of the company’s stock.

Xenon Pharmaceuticals Company Profile

(Get Free Report)

Xenon Pharmaceuticals Inc is a clinical‐stage biopharmaceutical company dedicated to discovering and developing novel, small‐molecule drugs targeting ion channels in the central and peripheral nervous system. The company’s research focus centers on neurological and pain disorders—including epilepsy, migraine, and neuropathic pain—by modulating key ion‐channel proteins to restore normal neuronal function. Xenon’s scientific platform draws upon advances in ion‐channel biology and structure‐based drug design to identify and optimize therapeutic candidates with the potential for improved safety and efficacy profiles compared with existing treatments.

The company’s pipeline comprises multiple preclinical and clinical programs.

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