Xenon Pharmaceuticals (NASDAQ:XENE) Coverage Initiated at Chardan Capital

Stock analysts at Chardan Capital began coverage on shares of Xenon Pharmaceuticals (NASDAQ:XENE) in a research note issued on Wednesday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $55.00 price target on the biopharmaceutical company’s stock. Chardan Capital’s price target indicates a potential upside of 54.76% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. Royal Bank of Canada reiterated an “outperform” rating on shares of Xenon Pharmaceuticals in a report on Friday, February 28th. HC Wainwright reiterated a “buy” rating and issued a $53.00 price objective on shares of Xenon Pharmaceuticals in a research note on Monday, February 24th. Deutsche Bank Aktiengesellschaft began coverage on Xenon Pharmaceuticals in a report on Tuesday, February 11th. They issued a “buy” rating and a $67.00 target price for the company. William Blair restated an “outperform” rating on shares of Xenon Pharmaceuticals in a report on Monday. Finally, StockNews.com cut Xenon Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $56.60.

Xenon Pharmaceuticals Trading Up 0.6 %

Shares of NASDAQ XENE opened at $35.54 on Wednesday. The stock has a market capitalization of $2.72 billion, a PE ratio of -12.60 and a beta of 1.21. Xenon Pharmaceuticals has a twelve month low of $26.74 and a twelve month high of $46.00. The stock has a fifty day simple moving average of $34.61 and a 200-day simple moving average of $38.38.

Xenon Pharmaceuticals (NASDAQ:XENE) last released its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.84) earnings per share for the quarter, beating the consensus estimate of ($0.89) by $0.05. On average, equities analysts predict that Xenon Pharmaceuticals will post -3.1 earnings per share for the current year.

Hedge Funds Weigh In On Xenon Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in XENE. FMR LLC boosted its holdings in shares of Xenon Pharmaceuticals by 8.8% in the 4th quarter. FMR LLC now owns 7,525,290 shares of the biopharmaceutical company’s stock valued at $294,991,000 after buying an additional 607,606 shares in the last quarter. Boxer Capital Management LLC acquired a new position in Xenon Pharmaceuticals in the fourth quarter valued at $23,520,000. JPMorgan Chase & Co. boosted its stake in Xenon Pharmaceuticals by 38.9% in the fourth quarter. JPMorgan Chase & Co. now owns 1,356,895 shares of the biopharmaceutical company’s stock valued at $53,190,000 after acquiring an additional 380,112 shares in the last quarter. Stempoint Capital LP purchased a new position in shares of Xenon Pharmaceuticals during the fourth quarter worth about $14,733,000. Finally, Janus Henderson Group PLC increased its position in shares of Xenon Pharmaceuticals by 12.3% during the fourth quarter. Janus Henderson Group PLC now owns 2,866,755 shares of the biopharmaceutical company’s stock worth $112,425,000 after purchasing an additional 314,363 shares in 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.