Xenon Pharmaceuticals (NASDAQ:XENE) Rating Reiterated by Raymond James

Raymond James restated their outperform rating on shares of Xenon Pharmaceuticals (NASDAQ:XENE) in a research note issued to investors on Thursday, MarketBeat reports. They currently have a $50.00 target price on the biopharmaceutical company’s stock.

Several other research analysts also recently weighed in on XENE. Cantor Fitzgerald reissued an overweight rating and issued a $65.00 target price on shares of Xenon Pharmaceuticals in a research report on Friday, August 9th. William Blair upgraded shares of Xenon Pharmaceuticals to a strong-buy rating in a research report on Friday, August 30th. Wedbush reduced their target price on Xenon Pharmaceuticals from $50.00 to $49.00 and set an outperform rating for the company in a report on Friday, August 9th. Royal Bank of Canada reiterated an outperform rating and set a $55.00 price target on shares of Xenon Pharmaceuticals in a report on Tuesday, September 3rd. Finally, HC Wainwright initiated coverage on Xenon Pharmaceuticals in a research note on Tuesday, October 1st. They issued a buy rating and a $53.00 price objective for the company. Eleven analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Buy and a consensus price target of $57.45.

Xenon Pharmaceuticals Stock Performance

Shares of XENE stock opened at $41.21 on Thursday. Xenon Pharmaceuticals has a 1 year low of $27.99 and a 1 year high of $50.99. The business’s fifty day moving average is $39.83 and its 200-day moving average is $40.16. The stock has a market cap of $3.11 billion, a PE ratio of -15.21 and a beta of 1.25.

Xenon Pharmaceuticals (NASDAQ:XENE) last posted its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.75) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.70) by ($0.05). During the same period in the previous year, the business posted ($0.72) EPS. Equities research analysts predict that Xenon Pharmaceuticals will post -3.14 earnings per share for the current year.

Institutional Investors Weigh In On Xenon Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. GSA Capital Partners LLP acquired a new position in Xenon Pharmaceuticals in the first quarter worth approximately $930,000. Perceptive Advisors LLC raised its holdings in shares of Xenon Pharmaceuticals by 78.3% during the 4th quarter. Perceptive Advisors LLC now owns 1,100,748 shares of the biopharmaceutical company’s stock valued at $50,700,000 after purchasing an additional 483,248 shares in the last quarter. Harbor Capital Advisors Inc. lifted its stake in shares of Xenon Pharmaceuticals by 647.8% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 24,116 shares of the biopharmaceutical company’s stock valued at $940,000 after purchasing an additional 20,891 shares during the last quarter. Capital International Investors lifted its stake in shares of Xenon Pharmaceuticals by 0.8% in the 1st quarter. Capital International Investors now owns 2,475,859 shares of the biopharmaceutical company’s stock valued at $106,586,000 after purchasing an additional 20,176 shares during the last quarter. Finally, Westfield Capital Management Co. LP boosted its holdings in Xenon Pharmaceuticals by 46.3% in the first quarter. Westfield Capital Management Co. LP now owns 347,351 shares of the biopharmaceutical company’s stock worth $14,953,000 after purchasing an additional 109,856 shares in the last quarter. 95.45% of the stock is owned by hedge funds and other institutional investors.

About Xenon Pharmaceuticals

Xenon Pharmaceuticals Inc, a clinical-stage biopharmaceutical company, engages in developing therapeutics to treat patients with neurological disorders in Canada. Its clinical development pipeline includes XEN496, a Kv7 potassium channel opener that is Phase III clinical trials for the treatment of KCNQ2 developmental and epileptic encephalopathy; and XEN1101, a Kv7 potassium channel opener, which is in Phase II clinical trial for the treatment of epilepsy and other neurological disorders.