Xenon Pharmaceuticals (NASDAQ:XENE) Given “Buy” Rating at Chardan Capital

Chardan Capital reiterated their buy rating on shares of Xenon Pharmaceuticals (NASDAQ:XENE) in a research note published on Tuesday morning,Benzinga reports. Chardan Capital currently has a $55.00 price objective on the biopharmaceutical company’s stock.

A number of other analysts have also recently weighed in on the company. Weiss Ratings restated a “sell (e+)” rating on shares of Xenon Pharmaceuticals in a research note on Saturday, September 27th. Wedbush raised their price target on Xenon Pharmaceuticals from $42.00 to $43.00 and gave the company an “outperform” rating in a research note on Tuesday, August 12th. Wells Fargo & Company assumed coverage on Xenon Pharmaceuticals in a research note on Wednesday, September 3rd. They issued an “overweight” rating and a $48.00 price target on the stock. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $55.00 price target on shares of Xenon Pharmaceuticals in a research note on Tuesday, September 2nd. Eleven equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $53.30.

Xenon Pharmaceuticals Trading Down 1.0%

Shares of NASDAQ XENE opened at $39.16 on Tuesday. The stock has a market cap of $3.02 billion, a P/E ratio of -11.03 and a beta of 1.14. Xenon Pharmaceuticals has a 12-month low of $26.74 and a 12-month high of $46.00. The business’s fifty day simple moving average is $37.06 and its 200-day simple moving average is $34.12.

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

Insider Activity

In other Xenon Pharmaceuticals news, CEO Ian Mortimer sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $40.16, for a total transaction of $1,004,000.00. Following the transaction, the chief executive officer owned 31,302 shares of the company’s stock, valued at approximately $1,257,088.32. This trade represents a 44.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 4.07% of the company’s stock.

Hedge Funds Weigh In On Xenon Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Farther Finance Advisors LLC purchased a new position in shares of Xenon Pharmaceuticals during the second quarter worth about $25,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Xenon Pharmaceuticals during the first quarter worth about $30,000. Elevation Point Wealth Partners LLC purchased a new position in shares of Xenon Pharmaceuticals during the second quarter worth about $32,000. Osaic Holdings Inc. grew its holdings in shares of Xenon Pharmaceuticals by 541.4% during the second quarter. Osaic Holdings Inc. now owns 1,225 shares of the biopharmaceutical company’s stock worth $40,000 after buying an additional 1,034 shares during the last quarter. Finally, L1 Capital Pty Ltd purchased a new position in shares of Xenon Pharmaceuticals during the second quarter worth about $41,000. Hedge funds and other institutional investors own 95.45% of the company’s stock.

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.