Xenon Pharmaceuticals (NASDAQ:XENE) Earns Buy Rating from Analysts at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft assumed coverage on shares of Xenon Pharmaceuticals (NASDAQ:XENE) in a research note issued to investors on Tuesday, Marketbeat reports. The brokerage issued a buy rating and a $67.00 price objective on the biopharmaceutical company’s stock.

Several other analysts have also issued reports on the company. HC Wainwright reaffirmed a “buy” rating and issued a $53.00 target price on shares of Xenon Pharmaceuticals in a research note on Thursday, December 12th. Needham & Company LLC reissued a “buy” rating and set a $60.00 price objective on shares of Xenon Pharmaceuticals in a research note on Wednesday, November 13th. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $57.38.

Xenon Pharmaceuticals Price Performance

Shares of XENE opened at $39.26 on Tuesday. The firm has a market cap of $2.99 billion, a P/E ratio of -13.92 and a beta of 1.20. The stock has a 50 day simple moving average of $39.78 and a two-hundred day simple moving average of $40.56. Xenon Pharmaceuticals has a 1 year low of $35.53 and a 1 year high of $50.99.

Xenon Pharmaceuticals (NASDAQ:XENE) last issued its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.81) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.82) by $0.01. During the same period in the previous year, the business posted ($0.73) earnings per share. On average, equities analysts anticipate that Xenon Pharmaceuticals will post -3.13 earnings per share for the current year.

Insider Activity at Xenon Pharmaceuticals

In related news, CEO Ian Mortimer sold 22,468 shares of the company’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $40.20, for a total transaction of $903,213.60. Following the completion of the transaction, the chief executive officer now owns 31,302 shares in the company, valued at $1,258,340.40. This represents a 41.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Sherry Aulin sold 18,709 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $41.21, for a total value of $770,997.89. The disclosure for this sale can be found here. Insiders sold a total of 62,383 shares of company stock worth $2,535,891 over the last quarter. 5.52% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Xenon Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the company. Blue Trust Inc. raised its holdings in Xenon Pharmaceuticals by 174.7% in the third quarter. Blue Trust Inc. now owns 1,008 shares of the biopharmaceutical company’s stock worth $39,000 after purchasing an additional 641 shares in the last quarter. Avior Wealth Management LLC bought a new position in Xenon Pharmaceuticals in the fourth quarter worth $101,000. nVerses Capital LLC bought a new position in Xenon Pharmaceuticals in the third quarter worth $102,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in Xenon Pharmaceuticals by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,740 shares of the biopharmaceutical company’s stock worth $106,000 after purchasing an additional 487 shares in the last quarter. Finally, KBC Group NV raised its holdings in Xenon Pharmaceuticals by 39.8% in the fourth quarter. KBC Group NV now owns 2,742 shares of the biopharmaceutical company’s stock worth $107,000 after purchasing an additional 780 shares in the last quarter. 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.