HC Wainwright Reaffirms Buy Rating for Xenon Pharmaceuticals (NASDAQ:XENE)

Xenon Pharmaceuticals (NASDAQ:XENE)‘s stock had its “buy” rating reiterated by analysts at HC Wainwright in a report released on Monday,Benzinga reports. They presently have a $53.00 price objective on the biopharmaceutical company’s stock. HC Wainwright’s price target would suggest a potential upside of 40.77% from the stock’s current price.

Several other research analysts have also issued reports on XENE. 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 price target on the stock. 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 equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $57.38.

Xenon Pharmaceuticals Price Performance

Shares of XENE opened at $37.65 on Monday. The firm’s 50 day moving average is $39.39 and its 200-day moving average is $40.35. Xenon Pharmaceuticals has a 12-month low of $35.53 and a 12-month high of $50.99. The stock has a market capitalization of $2.87 billion, a P/E ratio of -13.35 and a beta of 1.20.

Insider Buying and Selling

In other news, CFO Sherry Aulin sold 18,709 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $41.21, for a total value of $770,997.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ian Mortimer sold 16,315 shares of the firm’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $40.50, for a total value of $660,757.50. Following the completion of the sale, the chief executive officer now directly owns 31,302 shares of the company’s stock, valued at approximately $1,267,731. This trade represents a 34.26 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 57,492 shares of company stock valued at $2,334,969. Company insiders own 5.52% of the company’s stock.

Hedge Funds Weigh In On Xenon Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the business. Loomis Sayles & Co. L P boosted its holdings in shares of Xenon Pharmaceuticals by 7.1% during the third quarter. Loomis Sayles & Co. L P now owns 707,222 shares of the biopharmaceutical company’s stock worth $27,843,000 after purchasing an additional 46,964 shares during the period. Vestal Point Capital LP lifted its position in Xenon Pharmaceuticals by 57.1% in the 3rd quarter. Vestal Point Capital LP now owns 825,000 shares of the biopharmaceutical company’s stock worth $32,480,000 after buying an additional 300,000 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of Xenon Pharmaceuticals by 4.3% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 439,074 shares of the biopharmaceutical company’s stock valued at $17,287,000 after buying an additional 17,953 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Xenon Pharmaceuticals by 1,263.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 976,783 shares of the biopharmaceutical company’s stock valued at $38,456,000 after acquiring an additional 905,129 shares in the last quarter. Finally, Barclays PLC grew its holdings in shares of Xenon Pharmaceuticals by 1,275.5% during the 3rd quarter. Barclays PLC now owns 14,993 shares of the biopharmaceutical company’s stock valued at $590,000 after acquiring an additional 13,903 shares in the last quarter. 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.