Xenon Pharmaceuticals (NASDAQ:XENE) Rating Increased to Strong-Buy at Chardan Capital

Chardan Capital upgraded shares of Xenon Pharmaceuticals (NASDAQ:XENE) to a strong-buy rating in a research report sent to investors on Wednesday,Zacks.com reports.

A number of other equities analysts also recently issued reports on XENE. Cantor Fitzgerald reiterated an “overweight” rating and set a $55.00 price objective on shares of Xenon Pharmaceuticals in a research note on Tuesday, November 4th. Wedbush upped their target price on Xenon Pharmaceuticals from $42.00 to $43.00 and gave the stock an “outperform” rating in a report on Tuesday, August 12th. Royal Bank Of Canada lifted their price target on Xenon Pharmaceuticals from $55.00 to $58.00 and gave the company an “outperform” rating in a report on Tuesday, November 4th. Wells Fargo & Company restated an “overweight” rating and set a $44.00 price objective (down from $48.00) on shares of Xenon Pharmaceuticals in a research note on Tuesday, November 4th. Finally, William Blair reaffirmed an “outperform” rating on shares of Xenon Pharmaceuticals in a research report on Tuesday, October 7th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $54.27.

Xenon Pharmaceuticals Trading Down 0.9%

Shares of Xenon Pharmaceuticals stock opened at $40.27 on Wednesday. The firm has a market cap of $3.11 billion, a P/E ratio of -11.34 and a beta of 1.10. Xenon Pharmaceuticals has a 12 month low of $26.74 and a 12 month high of $44.23. The stock’s fifty day moving average price is $39.71 and its 200-day moving average price is $35.62.

Xenon Pharmaceuticals (NASDAQ:XENE) last released its quarterly earnings data on Monday, November 3rd. The biopharmaceutical company reported ($1.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.16) by $0.01. The firm’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) earnings per share. Analysts forecast that Xenon Pharmaceuticals will post -3.1 earnings per share for the current year.

Insider Transactions at Xenon Pharmaceuticals

In related 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 transaction, the chief executive officer directly owned 31,302 shares of the company’s stock, valued at $1,257,088.32. This represents a 44.40% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 4.07% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Xenon Pharmaceuticals

A number of large investors have recently modified their holdings of XENE. Farther Finance Advisors LLC purchased a new position in shares of Xenon Pharmaceuticals in the 2nd quarter valued at approximately $25,000. Danske Bank A S purchased a new stake in Xenon Pharmaceuticals during the third quarter worth $32,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Xenon Pharmaceuticals in the 1st quarter valued at about $30,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of Xenon Pharmaceuticals in the third quarter valued at approximately $39,000. Finally, Elevation Point Wealth Partners LLC acquired a new position in Xenon Pharmaceuticals during the second quarter worth $32,000. Hedge funds and other institutional investors own 95.45% of the company’s stock.

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.