Xenon Pharmaceuticals’ (XENE) Buy Rating Reiterated at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Xenon Pharmaceuticals (NASDAQ:XENE) in a report issued on Thursday,Benzinga reports. HC Wainwright currently has a $53.00 price objective on the biopharmaceutical company’s stock.

Several other analysts have also issued reports on the stock. Raymond James reiterated an “outperform” rating and issued a $50.00 target price on shares of Xenon Pharmaceuticals in a research note on Thursday, October 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $60.00 price target on shares of Xenon Pharmaceuticals in a research report on Wednesday, November 13th. Royal Bank of Canada restated an “outperform” rating and issued a $55.00 price objective on shares of Xenon Pharmaceuticals in a research note on Tuesday, September 3rd. Finally, William Blair raised shares of Xenon Pharmaceuticals to a “strong-buy” rating in a report on Friday, August 30th. Ten equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Xenon Pharmaceuticals currently has an average rating of “Buy” and a consensus price target of $56.90.

Xenon Pharmaceuticals Price Performance

NASDAQ:XENE opened at $40.05 on Thursday. Xenon Pharmaceuticals has a one year low of $35.53 and a one year high of $50.99. The firm has a 50-day moving average of $41.91 and a 200-day moving average of $40.41.

Xenon Pharmaceuticals (NASDAQ:XENE) last released its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.81) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.82) by $0.01. During the same period last year, the company posted ($0.73) EPS. As a group, sell-side analysts expect that Xenon Pharmaceuticals will post -3.1 EPS for the current year.

Insiders Place Their Bets

In related news, Director Gary Patou sold 4,891 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $41.08, for a total transaction of $200,922.28. Following the sale, the director now owns 23,573 shares of the company’s stock, valued at approximately $968,378.84. This represents a 17.18 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 5.52% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of XENE. Loomis Sayles & Co. L P increased its holdings in shares of Xenon Pharmaceuticals by 7.1% in the third quarter. Loomis Sayles & Co. L P now owns 707,222 shares of the biopharmaceutical company’s stock worth $27,843,000 after purchasing an additional 46,964 shares during the period. Vestal Point Capital LP increased its stake in Xenon Pharmaceuticals by 57.1% in the 3rd quarter. Vestal Point Capital LP now owns 825,000 shares of the biopharmaceutical company’s stock worth $32,480,000 after acquiring an additional 300,000 shares during the last quarter. Driehaus Capital Management LLC increased its stake in Xenon Pharmaceuticals by 2.3% in the 2nd quarter. Driehaus Capital Management LLC now owns 4,419,472 shares of the biopharmaceutical company’s stock worth $172,315,000 after acquiring an additional 97,732 shares during the last quarter. Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of Xenon Pharmaceuticals in the 2nd quarter valued at about $1,574,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of Xenon Pharmaceuticals by 4.3% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 439,074 shares of the biopharmaceutical company’s stock valued at $17,287,000 after acquiring an additional 17,953 shares during the last quarter. 95.45% of the stock is owned by institutional investors.

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.