Xenon Pharmaceuticals (NASDAQ:XENE) Given New $63.00 Price Target at Wedbush

Xenon Pharmaceuticals (NASDAQ:XENE) had its price target cut by Wedbush from $64.00 to $63.00 in a report published on Monday morning,Benzinga reports. They currently have an outperform rating on the biopharmaceutical company’s stock.

Other equities analysts have also issued research reports about the stock. Jefferies Financial Group set a $100.00 price objective on shares of Xenon Pharmaceuticals in a research report on Monday, March 9th. HC Wainwright raised their target price on shares of Xenon Pharmaceuticals from $53.00 to $74.00 and gave the stock a “buy” rating in a research report on Tuesday, March 10th. Stifel Nicolaus set a $66.00 target price on shares of Xenon Pharmaceuticals in a research note on Tuesday, February 10th. Wells Fargo & Company boosted their price target on Xenon Pharmaceuticals from $49.00 to $68.00 and gave the company an “overweight” rating in a report on Tuesday, March 10th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Xenon Pharmaceuticals from $56.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, March 10th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $71.88.

Xenon Pharmaceuticals Trading Down 1.0%

Xenon Pharmaceuticals stock opened at $54.66 on Monday. The stock has a market cap of $4.55 billion, a PE ratio of -12.54 and a beta of 0.91. The stock has a 50-day moving average price of $43.97 and a 200 day moving average price of $42.07. Xenon Pharmaceuticals has a 52 week low of $26.74 and a 52 week high of $63.95.

Xenon Pharmaceuticals (NASDAQ:XENE) last released its earnings results on Thursday, February 26th. The biopharmaceutical company reported ($1.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.20) by ($0.11). During the same quarter in the prior year, the firm posted ($0.84) EPS. On average, equities analysts predict that Xenon Pharmaceuticals will post -3.1 EPS for the current year.

Insider Buying and Selling

In related news, CEO Ian Mortimer sold 7,308 shares of the company’s stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $55.23, for a total transaction of $403,620.84. Following the completion of the transaction, the chief executive officer owned 19,923 shares of the company’s stock, valued at approximately $1,100,347.29. This represents a 26.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Andrea Difabio sold 1,342 shares of the stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $55.23, for a total transaction of $74,118.66. Following the transaction, the insider directly owned 7,301 shares in the company, valued at approximately $403,234.23. This represents a 15.53% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 336,707 shares of company stock valued at $19,622,565. Insiders own 4.07% of the company’s stock.

Institutional Trading of Xenon Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Cinctive Capital Management LP raised its position in shares of Xenon Pharmaceuticals by 1.1% in the 4th quarter. Cinctive Capital Management LP now owns 23,317 shares of the biopharmaceutical company’s stock worth $1,045,000 after buying an additional 263 shares during the period. Arizona State Retirement System grew its position in Xenon Pharmaceuticals by 1.8% during the third quarter. Arizona State Retirement System now owns 19,290 shares of the biopharmaceutical company’s stock valued at $774,000 after acquiring an additional 334 shares during the period. State of Wyoming increased its stake in Xenon Pharmaceuticals by 30.4% during the fourth quarter. State of Wyoming now owns 1,501 shares of the biopharmaceutical company’s stock worth $67,000 after acquiring an additional 350 shares during the last quarter. Quarry LP increased its stake in Xenon Pharmaceuticals by 25.0% during the third quarter. Quarry LP now owns 2,500 shares of the biopharmaceutical company’s stock worth $100,000 after acquiring an additional 500 shares during the last quarter. Finally, Altfest L J & Co. Inc. raised its holdings in shares of Xenon Pharmaceuticals by 6.5% in the 4th quarter. Altfest L J & Co. Inc. now owns 8,232 shares of the biopharmaceutical company’s stock worth $369,000 after purchasing an additional 501 shares during the period. 95.45% of the stock is currently owned by institutional investors and hedge funds.

Xenon Pharmaceuticals Company Profile

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.