Xenon Pharmaceuticals’ (XENE) Outperform Rating Reaffirmed at William Blair

William Blair reissued their outperform rating on shares of Xenon Pharmaceuticals (NASDAQ:XENE) in a research note published on Tuesday morning,RTT News reports.

XENE has been the topic of a number of other research reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Xenon Pharmaceuticals in a report on Saturday, September 27th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $55.00 price objective on shares of Xenon Pharmaceuticals in a report on Tuesday, September 2nd. Wells Fargo & Company initiated coverage on Xenon Pharmaceuticals in a report on Wednesday, September 3rd. They set an “overweight” rating and a $48.00 price objective on the stock. Wedbush upped their price objective on Xenon Pharmaceuticals from $42.00 to $43.00 and gave the stock an “outperform” rating in a report on Tuesday, August 12th. Finally, Chardan Capital reaffirmed a “buy” rating and set a $55.00 price objective on shares of Xenon Pharmaceuticals in a report on Tuesday. Eleven investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $53.30.

Xenon Pharmaceuticals Stock Down 1.0%

XENE stock opened at $39.16 on Tuesday. The business has a 50 day moving average price of $37.06 and a 200 day moving average price of $34.12. The stock has a market cap of $3.02 billion, a price-to-earnings ratio of -11.03 and a beta of 1.14. Xenon Pharmaceuticals has a fifty-two week low of $26.74 and a fifty-two week high of $46.00.

Xenon Pharmaceuticals (NASDAQ:XENE) last issued its quarterly earnings data on Monday, August 11th. The biopharmaceutical company reported ($1.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.03) by ($0.04). During the same quarter in the prior year, the firm posted ($0.75) earnings per share. As a group, sell-side analysts anticipate that Xenon Pharmaceuticals will post -3.1 EPS for the current year.

Insiders Place Their Bets

In other Xenon Pharmaceuticals news, CEO Ian Mortimer sold 25,000 shares of the company’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 completion of the sale, the chief executive officer directly owned 31,302 shares in the company, valued at $1,257,088.32. This represents a 44.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 4.07% of the company’s stock.

Institutional Investors Weigh In On Xenon Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Holocene Advisors LP acquired a new stake in shares of Xenon Pharmaceuticals in the second quarter valued at about $56,637,000. Geode Capital Management LLC grew its stake in shares of Xenon Pharmaceuticals by 1,294.2% in the second quarter. Geode Capital Management LLC now owns 970,343 shares of the biopharmaceutical company’s stock valued at $30,369,000 after buying an additional 900,746 shares in the last quarter. Braidwell LP grew its stake in shares of Xenon Pharmaceuticals by 33.0% in the second quarter. Braidwell LP now owns 3,605,029 shares of the biopharmaceutical company’s stock valued at $112,837,000 after buying an additional 895,154 shares in the last quarter. Vestal Point Capital LP grew its stake in shares of Xenon Pharmaceuticals by 53.8% in the second quarter. Vestal Point Capital LP now owns 2,000,000 shares of the biopharmaceutical company’s stock valued at $62,600,000 after buying an additional 700,000 shares in the last quarter. Finally, Commodore Capital LP grew its stake in shares of Xenon Pharmaceuticals by 30.1% in the second quarter. Commodore Capital LP now owns 3,025,000 shares of the biopharmaceutical company’s stock valued at $94,682,000 after buying an additional 700,000 shares in the last quarter. 95.45% of the stock is currently owned by institutional investors and hedge funds.

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.