Xenon Pharmaceuticals (NASDAQ:XENE) Earns Overweight Rating from Analysts at Wells Fargo & Company

Wells Fargo & Company began coverage on shares of Xenon Pharmaceuticals (NASDAQ:XENE) in a research report report published on Wednesday, Marketbeat Ratings reports. The brokerage issued an overweight rating and a $48.00 target price on the biopharmaceutical company’s stock.

A number of other equities analysts have also recently weighed in on XENE. Royal Bank Of Canada reissued an “outperform” rating and issued a $55.00 price target on shares of Xenon Pharmaceuticals in a research note on Tuesday. Needham & Company LLC dropped their price target on Xenon Pharmaceuticals from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Tuesday, May 13th. Wall Street Zen cut Xenon Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Wednesday, May 21st. Wedbush lifted their price target on Xenon Pharmaceuticals from $42.00 to $43.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 12th. Finally, HC Wainwright reissued a “buy” rating and issued a $53.00 price target on shares of Xenon Pharmaceuticals in a research note on Tuesday, May 13th. Eleven investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Xenon Pharmaceuticals has a consensus rating of “Buy” and a consensus target price of $53.30.

Xenon Pharmaceuticals Stock Up 1.5%

NASDAQ:XENE opened at $39.21 on Wednesday. The business’s 50-day moving average price is $34.52 and its 200 day moving average price is $33.96. The firm has a market cap of $3.02 billion, a P/E ratio of -11.05 and a beta of 1.17. Xenon Pharmaceuticals has a 52-week low of $26.74 and a 52-week high of $46.00.

Xenon Pharmaceuticals (NASDAQ:XENE) last issued its quarterly earnings results on Monday, August 11th. The biopharmaceutical company reported ($1.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.03) by ($0.04). During the same period in the previous year, the firm earned ($0.75) earnings per share. Sell-side analysts expect that Xenon Pharmaceuticals will post -3.1 EPS for the current year.

Hedge Funds Weigh In On Xenon Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of XENE. Northern Trust Corp lifted its holdings in shares of Xenon Pharmaceuticals by 51.6% during the 4th quarter. Northern Trust Corp now owns 65,783 shares of the biopharmaceutical company’s stock valued at $2,579,000 after buying an additional 22,377 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of Xenon Pharmaceuticals by 39.1% in the 4th quarter. Ameriprise Financial Inc. now owns 92,350 shares of the biopharmaceutical company’s stock valued at $3,620,000 after buying an additional 25,967 shares in the last quarter. Mutual of America Capital Management LLC bought a new stake in shares of Xenon Pharmaceuticals in the 1st quarter valued at approximately $1,636,000. Natixis Advisors LLC grew its stake in shares of Xenon Pharmaceuticals by 1.9% in the 1st quarter. Natixis Advisors LLC now owns 24,010 shares of the biopharmaceutical company’s stock valued at $806,000 after buying an additional 456 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Xenon Pharmaceuticals by 439.0% in the 1st quarter. Bank of New York Mellon Corp now owns 251,147 shares of the biopharmaceutical company’s stock valued at $8,426,000 after buying an additional 204,550 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.