Needham & Company LLC Lowers Xenon Pharmaceuticals (NASDAQ:XENE) Price Target to $55.00

Xenon Pharmaceuticals (NASDAQ:XENE) had its price objective decreased by stock analysts at Needham & Company LLC from $60.00 to $55.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. Needham & Company LLC’s price target indicates a potential upside of 84.94% from the stock’s previous close.

A number of other analysts have also recently weighed in on the company. Deutsche Bank Aktiengesellschaft initiated coverage on Xenon Pharmaceuticals in a research report on Tuesday, February 11th. They issued a “buy” rating and a $67.00 price target for the company. Chardan Capital initiated coverage on Xenon Pharmaceuticals in a research report on Wednesday, May 7th. They issued a “buy” rating and a $55.00 price target for the company. The Goldman Sachs Group reduced their price target on Xenon Pharmaceuticals from $60.00 to $52.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. HC Wainwright reaffirmed a “buy” rating and issued a $53.00 price target on shares of Xenon Pharmaceuticals in a research report on Monday, February 24th. Finally, StockNews.com cut Xenon Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday, May 2nd. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $54.82.

Xenon Pharmaceuticals Trading Up 0.5%

XENE opened at $29.74 on Tuesday. The stock has a market cap of $2.28 billion, a price-to-earnings ratio of -10.55 and a beta of 1.21. Xenon Pharmaceuticals has a 1 year low of $26.74 and a 1 year high of $46.00. The stock has a fifty day moving average price of $34.28 and a 200 day moving average price of $38.12.

Xenon Pharmaceuticals (NASDAQ:XENE) last released its quarterly earnings data on Monday, May 12th. The biopharmaceutical company reported ($0.83) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.90) by $0.07. The firm had revenue of $7.50 million for the quarter, compared to analyst estimates of $1.64 million. During the same period in the previous year, the business posted ($0.62) EPS. As a group, sell-side analysts forecast that Xenon Pharmaceuticals will post -3.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Xenon Pharmaceuticals

A number of institutional investors have recently made changes to their positions in the business. GF Fund Management CO. LTD. increased its stake in shares of Xenon Pharmaceuticals by 21.9% in the first quarter. GF Fund Management CO. LTD. now owns 1,952 shares of the biopharmaceutical company’s stock worth $65,000 after purchasing an additional 351 shares during the period. Natixis Advisors LLC increased its stake in Xenon Pharmaceuticals by 1.9% during the first quarter. Natixis Advisors LLC now owns 24,010 shares of the biopharmaceutical company’s stock valued at $806,000 after acquiring an additional 456 shares during the period. Occudo Quantitative Strategies LP increased its stake in Xenon Pharmaceuticals by 5.8% during the fourth quarter. Occudo Quantitative Strategies LP now owns 11,441 shares of the biopharmaceutical company’s stock valued at $448,000 after acquiring an additional 630 shares during the period. Geode Capital Management LLC increased its stake in Xenon Pharmaceuticals by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 69,529 shares of the biopharmaceutical company’s stock valued at $2,726,000 after acquiring an additional 720 shares during the period. Finally, KBC Group NV increased its stake in Xenon Pharmaceuticals by 39.8% during the fourth quarter. KBC Group NV now owns 2,742 shares of the biopharmaceutical company’s stock valued at $107,000 after acquiring an additional 780 shares during the period. 95.45% of the stock is currently owned by institutional investors.

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.