Xenon Pharmaceuticals (NASDAQ:XENE) Given “Buy” Rating at HC Wainwright

Xenon Pharmaceuticals (NASDAQ:XENE)‘s stock had its “buy” rating reaffirmed by equities researchers at HC Wainwright in a research note issued on Tuesday,Benzinga reports. They currently have a $53.00 target price on the biopharmaceutical company’s stock. HC Wainwright’s target price would indicate a potential upside of 47.84% from the stock’s current price.

Several other equities research analysts have also recently commented on XENE. Chardan Capital reaffirmed a “buy” rating and set a $55.00 price objective on shares of Xenon Pharmaceuticals in a research report on Tuesday. Royal Bank of Canada reiterated an “outperform” rating on shares of Xenon Pharmaceuticals in a research note on Friday, February 28th. StockNews.com downgraded shares of Xenon Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday, May 2nd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Xenon Pharmaceuticals in a research report on Tuesday, February 11th. They issued a “buy” rating and a $67.00 target price for the company. Finally, The Goldman Sachs Group lowered their price target on Xenon Pharmaceuticals from $60.00 to $52.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. One analyst has rated the stock with a sell rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Xenon Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $55.67.

Xenon Pharmaceuticals Stock Performance

Shares of Xenon Pharmaceuticals stock opened at $35.85 on Tuesday. The company has a 50-day simple moving average of $34.57 and a two-hundred day simple moving average of $38.24. The stock has a market capitalization of $2.75 billion, a PE ratio of -12.71 and a beta of 1.21. Xenon Pharmaceuticals has a 52-week low of $26.74 and a 52-week high of $46.00.

Xenon Pharmaceuticals (NASDAQ:XENE) last announced its quarterly earnings data on Monday, May 12th. The biopharmaceutical company reported ($0.83) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.90) by $0.07. The firm had revenue of $7.50 million during the quarter, compared to analysts’ expectations of $1.64 million. During the same quarter in the previous year, the firm earned ($0.62) earnings per share. As a group, equities research analysts forecast that Xenon Pharmaceuticals will post -3.1 EPS for the current fiscal year.

Institutional Trading of Xenon Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of XENE. Caitong International Asset Management Co. Ltd purchased a new position in shares of Xenon Pharmaceuticals during the 1st quarter valued at about $30,000. Mutual of America Capital Management LLC bought a new stake in Xenon Pharmaceuticals during the 1st quarter worth approximately $1,636,000. CenterBook Partners LP bought a new stake in Xenon Pharmaceuticals during the 1st quarter worth approximately $745,000. Westfield Capital Management Co. LP lifted its holdings in Xenon Pharmaceuticals by 20.2% during the first quarter. Westfield Capital Management Co. LP now owns 1,391,370 shares of the biopharmaceutical company’s stock valued at $46,680,000 after purchasing an additional 234,181 shares in the last quarter. Finally, J. Safra Sarasin Holding AG boosted its position in shares of Xenon Pharmaceuticals by 71.9% in the first quarter. J. Safra Sarasin Holding AG now owns 30,573 shares of the biopharmaceutical company’s stock worth $1,026,000 after purchasing an additional 12,787 shares during the period. 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.