Xenon Pharmaceuticals (NASDAQ:XENE) Given “Outperform” Rating at Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of Xenon Pharmaceuticals (NASDAQ:XENE) in a research note published on Tuesday morning, Benzinga reports. Royal Bank of Canada currently has a $55.00 price objective on the biopharmaceutical company’s stock.

Several other research firms also recently weighed in on XENE. Cantor Fitzgerald reissued an overweight rating and set a $65.00 price target on shares of Xenon Pharmaceuticals in a research report on Wednesday, April 10th. Needham & Company LLC reiterated a buy rating and issued a $62.00 price target on shares of Xenon Pharmaceuticals in a report on Friday, May 10th. Wedbush cut their price objective on shares of Xenon Pharmaceuticals from $51.00 to $50.00 and set an outperform rating on the stock in a report on Friday, May 10th. Finally, Citigroup reduced their price target on shares of Xenon Pharmaceuticals from $62.00 to $60.00 and set a buy rating on the stock in a research report on Friday, May 10th. One investment analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $59.11.

Xenon Pharmaceuticals Stock Performance

Shares of XENE stock opened at $36.25 on Tuesday. The stock’s 50-day moving average is $39.99 and its two-hundred day moving average is $43.07. The firm has a market cap of $2.74 billion, a price-to-earnings ratio of -13.38 and a beta of 1.23. Xenon Pharmaceuticals has a 1 year low of $27.99 and a 1 year high of $50.99.

Xenon Pharmaceuticals (NASDAQ:XENE) last posted its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($0.62) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.69) by $0.07. The company had revenue of $1.00 million for the quarter. The company’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period last year, the firm earned ($0.63) earnings per share. As a group, research analysts predict that Xenon Pharmaceuticals will post -2.98 EPS for the current year.

Hedge Funds Weigh In On Xenon Pharmaceuticals

Several large investors have recently bought and sold shares of XENE. Tower Research Capital LLC TRC raised its holdings in Xenon Pharmaceuticals by 414.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,014 shares of the biopharmaceutical company’s stock worth $47,000 after buying an additional 817 shares during the period. Parallel Advisors LLC boosted its holdings in Xenon Pharmaceuticals by 51.2% during the fourth quarter. Parallel Advisors LLC now owns 1,125 shares of the biopharmaceutical company’s stock valued at $52,000 after acquiring an additional 381 shares during the period. PNC Financial Services Group Inc. acquired a new stake in shares of Xenon Pharmaceuticals in the fourth quarter valued at about $91,000. 17 Capital Partners LLC bought a new position in shares of Xenon Pharmaceuticals in the first quarter worth about $122,000. Finally, EntryPoint Capital LLC acquired a new position in shares of Xenon Pharmaceuticals during the 1st quarter worth about $195,000. Institutional investors and hedge funds own 95.45% of the company’s stock.

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.