Xenon Pharmaceuticals (NASDAQ:XENE – Get Rating) had its price objective hoisted by equities researchers at Royal Bank of Canada from $49.00 to $51.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has an "outperform" rating on the biopharmaceutical company's stock. Royal Bank of Canada's price target indicates a potential upside of 30.17% from the stock's previous close.
Several other equities analysts have also issued reports on XENE. Wells Fargo & Company started coverage on Xenon Pharmaceuticals in a report on Monday, November 28th. They set an "overweight" rating and a $50.00 price objective on the stock. StockNews.com started coverage on Xenon Pharmaceuticals in a report on Wednesday, October 12th. They set a "sell" rating on the stock. Cowen started coverage on Xenon Pharmaceuticals in a report on Monday, December 12th. They set an "outperform" rating on the stock. JPMorgan Chase & Co. raised their price target on Xenon Pharmaceuticals from $52.00 to $54.00 in a report on Wednesday, January 4th. Finally, The Goldman Sachs Group started coverage on Xenon Pharmaceuticals in a report on Wednesday, December 14th. They set a "buy" rating and a $60.00 price target on the stock. One equities research analyst has rated the stock with a sell rating and twelve have issued a buy rating to the company. According to MarketBeat, Xenon Pharmaceuticals presently has an average rating of "Moderate Buy" and a consensus target price of $50.78.
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Xenon Pharmaceuticals Stock Performance
Shares of XENE stock opened at $39.18 on Tuesday. The stock's 50-day moving average is $37.49 and its two-hundred day moving average is $36.64. The firm has a market cap of $2.45 billion, a price-to-earnings ratio of -19.21 and a beta of 1.36. Xenon Pharmaceuticals has a 1 year low of $24.94 and a 1 year high of $41.39.
Xenon Pharmaceuticals (NASDAQ:XENE – Get Rating) last issued its quarterly earnings data on Tuesday, November 8th. The biopharmaceutical company reported ($0.57) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.52) by ($0.05). The firm had revenue of $0.13 million for the quarter, compared to analysts' expectations of $6.40 million. Xenon Pharmaceuticals had a negative return on equity of 17.31% and a negative net
margin of 862.06%. As a group, research analysts predict that Xenon Pharmaceuticals will post -2.1 EPS for the current year.
Insider Activity
In related news, Director Gary Patou sold 2,057 shares of Xenon Pharmaceuticals stock in a transaction that occurred on Wednesday, November 23rd. The stock was sold at an average price of $34.33, for a total transaction of $70,616.81. Following the completion of the transaction, the director now directly owns 23,573 shares in the company, valued at approximately $809,261.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 6.06% of the company's stock.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Xenon Pharmaceuticals by 41.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,439 shares of the biopharmaceutical company's stock worth $372,000 after purchasing an additional 2,772 shares during the last quarter. New York State Common Retirement Fund grew its stake in Xenon Pharmaceuticals by 4.1% in the 4th quarter. New York State Common Retirement Fund now owns 16,650 shares of the biopharmaceutical company's stock worth $657,000 after acquiring an additional 650 shares during the period. DNB Asset Management AS purchased a new stake in Xenon Pharmaceuticals in the 4th quarter worth approximately $3,728,000. California State Teachers Retirement System grew its stake in Xenon Pharmaceuticals by 0.8% in the 3rd quarter. California State Teachers Retirement System now owns 39,347 shares of the biopharmaceutical company's stock worth $1,420,000 after acquiring an additional 316 shares during the period. Finally, Advisory Research Inc. grew its stake in Xenon Pharmaceuticals by 4.1% in the 3rd quarter. Advisory Research Inc. now owns 36,438 shares of the biopharmaceutical company's stock worth $1,316,000 after acquiring an additional 1,438 shares during the period. 92.49% of the stock is currently owned by institutional investors and hedge funds.
Xenon Pharmaceuticals Company Profile
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Xenon Pharmaceuticals, Inc is a clinical stage biopharmaceutical company. It develops therapeutics to improve the lives of patients with neurological disorders, including rare central nervous system (CNS) conditions. The company's products include XEN496, XEN1101, XEN901 and XEN007. Xenon Pharmaceuticals was founded by Simon Neil Pimstone, Johannes J.
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