Xenon Pharmaceuticals (NASDAQ:XENE) Given Outperform Rating at Royal Bank Of Canada

Royal Bank Of Canada reiterated their outperform rating on shares of Xenon Pharmaceuticals (NASDAQ:XENE) in a report issued on Tuesday,Benzinga reports. The firm currently has a $55.00 price objective on the biopharmaceutical company’s stock.

XENE has been the topic of a number of other research reports. Wedbush increased their price objective on shares of Xenon Pharmaceuticals from $42.00 to $43.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 12th. William Blair reiterated an “outperform” rating on shares of Xenon Pharmaceuticals in a research note on Monday, May 5th. Wells Fargo & Company cut their price objective on shares of Xenon Pharmaceuticals from $50.00 to $47.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 13th. Needham & Company LLC cut their price objective on shares of Xenon Pharmaceuticals from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Tuesday, May 13th. Finally, Chardan Capital reiterated a “buy” rating and issued a $55.00 price objective on shares of Xenon Pharmaceuticals in a research note on Tuesday, August 12th. Eleven equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $53.20.

Xenon Pharmaceuticals Trading Up 1.5%

Shares of Xenon Pharmaceuticals stock opened at $39.30 on Tuesday. Xenon Pharmaceuticals has a 12-month low of $26.74 and a 12-month high of $46.00. The firm has a market capitalization of $3.03 billion, a price-to-earnings ratio of -11.07 and a beta of 1.17. The firm’s 50 day simple moving average is $34.11 and its two-hundred day simple moving average is $33.93.

Xenon Pharmaceuticals (NASDAQ:XENE) last issued its quarterly earnings results on Monday, August 11th. The biopharmaceutical company reported ($1.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.03) by ($0.04). During the same quarter last year, the business posted ($0.75) EPS. On average, sell-side analysts predict that Xenon Pharmaceuticals will post -3.1 EPS for the current fiscal year.

Institutional Trading of Xenon Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC purchased a new stake in Xenon Pharmaceuticals during the second quarter worth $25,000. Caitong International Asset Management Co. Ltd purchased a new position in Xenon Pharmaceuticals during the first quarter valued at $30,000. Elevation Point Wealth Partners LLC purchased a new position in Xenon Pharmaceuticals during the second quarter valued at $32,000. L1 Capital Pty Ltd purchased a new position in Xenon Pharmaceuticals during the second quarter valued at $41,000. Finally, GF Fund Management CO. LTD. purchased a new position in Xenon Pharmaceuticals during the fourth quarter valued at $63,000. 95.45% of the stock is owned by hedge funds and other 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.