Xenon Pharmaceuticals’ (XENE) “Buy” Rating Reaffirmed at Chardan Capital

Xenon Pharmaceuticals (NASDAQ:XENE)‘s stock had its “buy” rating reissued by equities research analysts at Chardan Capital in a report issued on Tuesday,Benzinga reports. They presently have a $55.00 price objective on the biopharmaceutical company’s stock. Chardan Capital’s target price indicates a potential upside of 84.94% from the company’s current price.

A number of other brokerages have also recently issued reports on XENE. The Goldman Sachs Group decreased their price objective on shares of Xenon Pharmaceuticals from $60.00 to $52.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. HC Wainwright reissued a “buy” rating and issued a $53.00 price objective on shares of Xenon Pharmaceuticals in a research note on Monday, February 24th. Needham & Company LLC decreased their price objective on shares of Xenon Pharmaceuticals from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Tuesday. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Xenon Pharmaceuticals in a research note on Tuesday, February 11th. They issued a “buy” rating and a $67.00 price objective on the stock. Finally, Royal Bank of Canada reissued an “outperform” rating on shares of Xenon Pharmaceuticals in a research note on Friday, February 28th. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $54.82.

Xenon Pharmaceuticals Trading Up 0.5%

Shares of XENE opened at $29.74 on Tuesday. Xenon Pharmaceuticals has a 12 month low of $26.74 and a 12 month high of $46.00. The firm’s 50 day moving average is $34.28 and its 200-day moving average is $38.12. The stock has a market capitalization of $2.28 billion, a PE ratio of -10.55 and a beta of 1.21.

Xenon Pharmaceuticals (NASDAQ:XENE) last announced its earnings results on Monday, May 12th. The biopharmaceutical company reported ($0.83) EPS for the quarter, topping the consensus estimate of ($0.90) by $0.07. The business had revenue of $7.50 million for the quarter, compared to the consensus estimate of $1.64 million. During the same period in the prior year, the business posted ($0.62) earnings per share. Equities research analysts predict that Xenon Pharmaceuticals will post -3.1 earnings per share for the current fiscal year.

Institutional Trading of Xenon Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the stock. Prudential Financial Inc. lifted its holdings in shares of Xenon Pharmaceuticals by 177.7% during the fourth quarter. Prudential Financial Inc. now owns 39,000 shares of the biopharmaceutical company’s stock worth $1,529,000 after purchasing an additional 24,956 shares during the period. Barclays PLC lifted its holdings in shares of Xenon Pharmaceuticals by 1,275.5% during the third quarter. Barclays PLC now owns 14,993 shares of the biopharmaceutical company’s stock worth $590,000 after purchasing an additional 13,903 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of Xenon Pharmaceuticals by 12.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 238,522 shares of the biopharmaceutical company’s stock worth $9,350,000 after purchasing an additional 26,235 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Xenon Pharmaceuticals by 38.9% during the fourth quarter. JPMorgan Chase & Co. now owns 1,356,895 shares of the biopharmaceutical company’s stock worth $53,190,000 after purchasing an additional 380,112 shares during the period. Finally, Avior Wealth Management LLC acquired a new position in shares of Xenon Pharmaceuticals during the fourth quarter worth $101,000. Institutional investors and hedge funds 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.