Xenon Pharmaceuticals (NASDAQ:XENE) PT Lowered to $50.00 at Wedbush

Xenon Pharmaceuticals (NASDAQ:XENE) had its target price cut by analysts at Wedbush from $51.00 to $50.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the biopharmaceutical company’s stock. Wedbush’s price objective points to a potential upside of 17.67% from the company’s previous close.

A number of other research analysts have also issued reports on XENE. Cantor Fitzgerald reissued an “overweight” rating and issued a $65.00 target price on shares of Xenon Pharmaceuticals in a report on Wednesday, April 10th. Needham & Company LLC reissued a “buy” rating and issued a $62.00 price objective on shares of Xenon Pharmaceuticals in a research note on Friday, April 12th. Finally, Royal Bank of Canada cut their target price on Xenon Pharmaceuticals from $56.00 to $55.00 and set an “outperform” rating for the company in a research note on Friday, March 1st. One equities research analyst has rated the stock with a sell rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $59.33.

Xenon Pharmaceuticals Price Performance

XENE stock opened at $42.49 on Friday. The company has a market cap of $3.21 billion, a price-to-earnings ratio of -15.62 and a beta of 1.19. The company has a fifty day moving average price of $42.87 and a 200 day moving average price of $41.52. Xenon Pharmaceuticals has a 12 month low of $27.99 and a 12 month high of $50.99.

Xenon Pharmaceuticals (NASDAQ:XENE) last announced its earnings results on Thursday, February 29th. The biopharmaceutical company reported ($0.64) earnings per share for the quarter, topping the consensus estimate of ($0.76) by $0.12. Xenon Pharmaceuticals’s quarterly revenue was up .0% on a year-over-year basis. During the same quarter last year, the company posted ($0.57) EPS. As a group, analysts anticipate that Xenon Pharmaceuticals will post -3.04 earnings per share for the current year.

Insider Buying and Selling at Xenon Pharmaceuticals

In other news, EVP Sherrington Robin sold 7,137 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $46.28, for a total value of $330,300.36. Following the completion of the transaction, the executive vice president now directly owns 8,398 shares of the company’s stock, valued at $388,659.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Xenon Pharmaceuticals news, Director Steven Gannon sold 13,000 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $46.28, for a total value of $601,640.00. Following the completion of the transaction, the director now directly owns 2,000 shares in the company, valued at approximately $92,560. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Sherrington Robin sold 7,137 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $46.28, for a total value of $330,300.36. Following the sale, the executive vice president now owns 8,398 shares in the company, valued at approximately $388,659.44. The disclosure for this sale can be found here. 5.43% of the stock is owned by insiders.

Hedge Funds Weigh In On Xenon Pharmaceuticals

Several large investors have recently added to or reduced their stakes in XENE. Avoro Capital Advisors LLC increased its stake in shares of Xenon Pharmaceuticals by 15.6% during the 4th quarter. Avoro Capital Advisors LLC now owns 5,666,666 shares of the biopharmaceutical company’s stock valued at $261,007,000 after acquiring an additional 766,666 shares during the last quarter. Wellington Management Group LLP increased its position in Xenon Pharmaceuticals by 140.9% during the fourth quarter. Wellington Management Group LLP now owns 4,162,654 shares of the biopharmaceutical company’s stock worth $191,732,000 after purchasing an additional 2,434,546 shares during the last quarter. Capital World Investors raised its stake in Xenon Pharmaceuticals by 17.9% during the fourth quarter. Capital World Investors now owns 2,681,537 shares of the biopharmaceutical company’s stock worth $123,512,000 after purchasing an additional 406,563 shares during the period. Capital International Investors boosted its holdings in shares of Xenon Pharmaceuticals by 0.4% in the 4th quarter. Capital International Investors now owns 2,455,683 shares of the biopharmaceutical company’s stock valued at $113,109,000 after purchasing an additional 8,863 shares during the last quarter. Finally, Commodore Capital LP boosted its holdings in shares of Xenon Pharmaceuticals by 17.5% in the 4th quarter. Commodore Capital LP now owns 2,167,793 shares of the biopharmaceutical company’s stock valued at $99,849,000 after purchasing an additional 322,793 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 clinical-stage biopharmaceutical company, engages in developing therapeutics to treat patients with neurological disorders in Canada. Its clinical development pipeline includes XEN496, a Kv7 potassium channel opener that is Phase III clinical trials for the treatment of KCNQ2 developmental and epileptic encephalopathy; and XEN1101, a Kv7 potassium channel opener, which is in Phase II clinical trial for the treatment of epilepsy and other neurological disorders.