Xenon Pharmaceuticals (NASDAQ:XENE) Price Target Raised to $62.00 at JPMorgan Chase & Co.

Xenon Pharmaceuticals (NASDAQ:XENE) had its price target lifted by JPMorgan Chase & Co. from $60.00 to $62.00 in a report issued on Friday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the biopharmaceutical company’s stock.

A number of other research analysts also recently weighed in on XENE. Cantor Fitzgerald reissued an “overweight” rating and set a $55.00 target price on shares of Xenon Pharmaceuticals in a research report on Tuesday, November 4th. Royal Bank Of Canada upped their price objective on Xenon Pharmaceuticals from $55.00 to $58.00 and gave the company an “outperform” rating in a research note on Tuesday, November 4th. Chardan Capital raised Xenon Pharmaceuticals to a “strong-buy” rating in a research report on Wednesday, November 19th. Wells Fargo & Company boosted their target price on Xenon Pharmaceuticals from $44.00 to $48.00 and gave the company an “overweight” rating in a research note on Thursday, December 11th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Xenon Pharmaceuticals in a research note on Tuesday, October 14th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Xenon Pharmaceuticals currently has a consensus rating of “Buy” and an average target price of $54.82.

Xenon Pharmaceuticals Trading Up 2.3%

XENE stock opened at $42.15 on Friday. The stock has a market cap of $3.26 billion, a P/E ratio of -10.84 and a beta of 0.97. The stock’s fifty day simple moving average is $42.60 and its two-hundred day simple moving average is $38.64. Xenon Pharmaceuticals has a 1-year low of $26.74 and a 1-year high of $46.60.

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

Insider Buying and Selling at Xenon Pharmaceuticals

In other news, CEO Ian Mortimer sold 40,000 shares of Xenon Pharmaceuticals stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $44.43, for a total value of $1,777,200.00. Following the completion of the transaction, the chief executive officer directly owned 6,000 shares in the company, valued at approximately $266,580. The trade was a 86.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 65,302 shares of company stock valued at $2,924,128 in the last three months. 4.07% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Holocene Advisors LP purchased a new stake in shares of Xenon Pharmaceuticals in the second quarter worth about $56,637,000. Wellington Management Group LLP increased its holdings in Xenon Pharmaceuticals by 66.0% during the 3rd quarter. Wellington Management Group LLP now owns 3,609,857 shares of the biopharmaceutical company’s stock worth $144,936,000 after acquiring an additional 1,435,096 shares during the period. Geode Capital Management LLC lifted its stake in Xenon Pharmaceuticals by 1,294.2% in the 2nd quarter. Geode Capital Management LLC now owns 970,343 shares of the biopharmaceutical company’s stock worth $30,369,000 after purchasing an additional 900,746 shares in the last quarter. Braidwell LP boosted its holdings in Xenon Pharmaceuticals by 33.0% in the 2nd quarter. Braidwell LP now owns 3,605,029 shares of the biopharmaceutical company’s stock valued at $112,837,000 after purchasing an additional 895,154 shares during the period. Finally, Vestal Point Capital LP grew its position in shares of Xenon Pharmaceuticals by 53.8% during the 2nd quarter. Vestal Point Capital LP now owns 2,000,000 shares of the biopharmaceutical company’s stock valued at $62,600,000 after purchasing an additional 700,000 shares in the last quarter. Hedge funds and other institutional investors own 95.45% of the company’s stock.

About Xenon Pharmaceuticals

Xenon Pharmaceuticals Inc is a clinical‐stage biopharmaceutical company dedicated to discovering and developing novel, small‐molecule drugs targeting ion channels in the central and peripheral nervous system. The company’s research focus centers on neurological and pain disorders—including epilepsy, migraine, and neuropathic pain—by modulating key ion‐channel proteins to restore normal neuronal function. Xenon’s scientific platform draws upon advances in ion‐channel biology and structure‐based drug design to identify and optimize therapeutic candidates with the potential for improved safety and efficacy profiles compared with existing treatments.

The company’s pipeline comprises multiple preclinical and clinical programs.