William Blair Reiterates “Outperform” Rating for Xenon Pharmaceuticals (NASDAQ:XENE)

William Blair reiterated their outperform rating on shares of Xenon Pharmaceuticals (NASDAQ:XENE) in a research report sent to investors on Monday morning,RTT News reports.

A number of other analysts have also issued reports on the company. HC Wainwright reissued a “buy” rating and issued a $53.00 target price on shares of Xenon Pharmaceuticals in a research report on Monday, February 24th. The Goldman Sachs Group decreased their target price on Xenon Pharmaceuticals from $60.00 to $52.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. Deutsche Bank Aktiengesellschaft assumed coverage on Xenon Pharmaceuticals in a research report on Tuesday, February 11th. They issued a “buy” rating and a $67.00 target price for the company. StockNews.com lowered shares of Xenon Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday. Finally, Royal Bank of Canada reaffirmed an “outperform” rating on shares of Xenon Pharmaceuticals in a research note on Friday, February 28th. One equities research analyst has rated the stock with a sell rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $56.78.

Xenon Pharmaceuticals Stock Performance

NASDAQ:XENE opened at $37.54 on Monday. The company has a fifty day moving average of $34.71 and a two-hundred day moving average of $38.48. Xenon Pharmaceuticals has a fifty-two week low of $26.74 and a fifty-two week high of $46.00. The stock has a market capitalization of $2.88 billion, a PE ratio of -13.31 and a beta of 1.21.

Xenon Pharmaceuticals (NASDAQ:XENE) last posted its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($0.84) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.89) by $0.05. Research analysts forecast that Xenon Pharmaceuticals will post -3.1 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. GF Fund Management CO. LTD. acquired a new position in Xenon Pharmaceuticals in the fourth quarter valued at approximately $63,000. Quarry LP purchased a new position in shares of Xenon Pharmaceuticals in the 4th quarter valued at $78,000. Blue Trust Inc. raised its stake in Xenon Pharmaceuticals by 140.3% during the 4th quarter. Blue Trust Inc. now owns 2,422 shares of the biopharmaceutical company’s stock worth $95,000 after acquiring an additional 1,414 shares in the last quarter. Avior Wealth Management LLC purchased a new stake in Xenon Pharmaceuticals in the fourth quarter valued at $101,000. Finally, KBC Group NV grew its holdings in shares of Xenon Pharmaceuticals by 39.8% during 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 during the last quarter. 95.45% of the stock is owned by institutional investors and hedge funds.

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.