HC Wainwright Reaffirms Buy Rating for Xenon Pharmaceuticals (NASDAQ:XENE)

Xenon Pharmaceuticals (NASDAQ:XENE)‘s stock had its “buy” rating reissued by stock analysts at HC Wainwright in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $53.00 price objective on the biopharmaceutical company’s stock. HC Wainwright’s target price would indicate a potential upside of 26.95% from the stock’s previous close.

A number of other brokerages have also weighed in on XENE. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $55.00 price target on shares of Xenon Pharmaceuticals in a research note on Tuesday, September 3rd. Wedbush cut their price objective on shares of Xenon Pharmaceuticals from $50.00 to $49.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. Raymond James reiterated an “outperform” rating and set a $50.00 target price on shares of Xenon Pharmaceuticals in a report on Thursday, October 10th. Needham & Company LLC restated a “buy” rating and issued a $60.00 price target on shares of Xenon Pharmaceuticals in a report on Wednesday. Finally, William Blair raised Xenon Pharmaceuticals to a “strong-buy” rating in a research report on Friday, August 30th. Eleven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Xenon Pharmaceuticals presently has a consensus rating of “Buy” and an average target price of $57.45.

Xenon Pharmaceuticals Stock Down 0.5 %

XENE opened at $41.75 on Wednesday. The stock has a market cap of $3.16 billion, a P/E ratio of -14.91 and a beta of 1.25. Xenon Pharmaceuticals has a 12 month low of $28.10 and a 12 month high of $50.99. The company has a fifty day simple moving average of $41.14 and a 200 day simple moving average of $40.35.

Xenon Pharmaceuticals (NASDAQ:XENE) last announced its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.81) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.82) by $0.01. During the same period in the prior year, the company earned ($0.73) earnings per share. On average, equities research analysts expect that Xenon Pharmaceuticals will post -3.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Xenon Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Xenon Pharmaceuticals by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,740 shares of the biopharmaceutical company’s stock valued at $106,000 after buying an additional 487 shares in the last quarter. California State Teachers Retirement System grew its position in shares of Xenon Pharmaceuticals by 0.9% in the 1st quarter. California State Teachers Retirement System now owns 56,477 shares of the biopharmaceutical company’s stock valued at $2,431,000 after acquiring an additional 490 shares during the period. Advisors Asset Management Inc. increased its stake in shares of Xenon Pharmaceuticals by 3.8% during the 3rd quarter. Advisors Asset Management Inc. now owns 13,592 shares of the biopharmaceutical company’s stock worth $535,000 after purchasing an additional 493 shares during the last quarter. ProShare Advisors LLC raised its holdings in shares of Xenon Pharmaceuticals by 12.0% in the 1st quarter. ProShare Advisors LLC now owns 5,286 shares of the biopharmaceutical company’s stock valued at $228,000 after purchasing an additional 565 shares during the period. Finally, Blue Trust Inc. lifted its stake in Xenon Pharmaceuticals by 174.7% in the 3rd quarter. Blue Trust Inc. now owns 1,008 shares of the biopharmaceutical company’s stock valued at $39,000 after purchasing an additional 641 shares during the last quarter. Institutional investors own 95.45% of the company’s stock.

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.