Xenon Pharmaceuticals (NASDAQ:XENE) Price Target Raised to $58.00 at Royal Bank Of Canada

Xenon Pharmaceuticals (NASDAQ:XENE) had its price target increased by Royal Bank Of Canada from $55.00 to $58.00 in a research note released on Tuesday morning, Marketbeat.com reports. The firm currently has an outperform rating on the biopharmaceutical company’s stock.

Other analysts have also issued reports about the stock. Bloom Burton upgraded shares of Xenon Pharmaceuticals to a “strong-buy” rating in a research note on Tuesday, October 7th. Chardan Capital restated a “buy” rating and set a $55.00 target price on shares of Xenon Pharmaceuticals in a research note on Tuesday, October 7th. Wedbush upped their target price 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. Wells Fargo & Company restated an “overweight” rating and set a $44.00 target price (down from $48.00) on shares of Xenon Pharmaceuticals in a research note on Tuesday. Finally, William Blair restated an “outperform” rating on shares of Xenon Pharmaceuticals in a research note on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $53.70.

Xenon Pharmaceuticals Price Performance

Shares of NASDAQ:XENE opened at $39.09 on Tuesday. The firm has a market capitalization of $3.01 billion, a PE ratio of -11.01 and a beta of 1.14. The firm’s 50-day moving average is $39.41 and its two-hundred day moving average is $35.41. Xenon Pharmaceuticals has a 1 year low of $26.74 and a 1 year high of $46.00.

Xenon Pharmaceuticals (NASDAQ:XENE) last issued its quarterly earnings results on Monday, November 3rd. The biopharmaceutical company reported ($1.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.16) by $0.01. Xenon Pharmaceuticals’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.81) EPS. Analysts expect that Xenon Pharmaceuticals will post -3.1 EPS for the current fiscal year.

Insider Buying and Selling at Xenon Pharmaceuticals

In other news, CEO Ian Mortimer sold 25,000 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $40.16, for a total value of $1,004,000.00. Following the completion of the sale, the chief executive officer directly owned 31,302 shares of the company’s stock, valued at approximately $1,257,088.32. This represents a 44.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 4.07% of the company’s stock.

Institutional Investors Weigh In On Xenon Pharmaceuticals

Large investors have recently modified their holdings of the company. Farther Finance Advisors LLC acquired a new stake in shares of Xenon Pharmaceuticals in the second quarter valued at approximately $25,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Xenon Pharmaceuticals in the first quarter valued at approximately $30,000. Elevation Point Wealth Partners LLC acquired a new stake in shares of Xenon Pharmaceuticals in the second quarter valued at approximately $32,000. Osaic Holdings Inc. boosted its holdings in shares of Xenon Pharmaceuticals by 541.4% in the second quarter. Osaic Holdings Inc. now owns 1,225 shares of the biopharmaceutical company’s stock valued at $40,000 after acquiring an additional 1,034 shares during the period. Finally, L1 Capital Pty Ltd acquired a new stake in shares of Xenon Pharmaceuticals in the second quarter valued at approximately $41,000. 95.45% of the stock is 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.