HC Wainwright Reiterates Buy Rating for Xenon Pharmaceuticals (NASDAQ:XENE)

HC Wainwright reiterated their buy rating on shares of Xenon Pharmaceuticals (NASDAQ:XENE) in a research report sent to investors on Wednesday,Benzinga reports. HC Wainwright currently has a $53.00 price target on the biopharmaceutical company’s stock. HC Wainwright also issued estimates for Xenon Pharmaceuticals’ Q1 2025 earnings at ($0.88) EPS, Q2 2025 earnings at ($0.89) EPS, Q3 2025 earnings at ($0.90) EPS and Q4 2025 earnings at ($0.91) EPS.

Several other research firms also recently commented on XENE. Needham & Company LLC reiterated a “buy” rating and set a $60.00 price objective on shares of Xenon Pharmaceuticals in a research note on Wednesday. Royal Bank of Canada reiterated an “outperform” rating and set a $55.00 price objective on shares of Xenon Pharmaceuticals in a research note on Tuesday, September 3rd. Wedbush lowered their price objective on shares of Xenon Pharmaceuticals from $50.00 to $49.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Raymond James restated an “outperform” rating and set a $50.00 target price on shares of Xenon Pharmaceuticals in a research report on Thursday, October 10th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $65.00 target price on shares of Xenon Pharmaceuticals in a research report on Friday, August 9th. Eleven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $57.45.

Xenon Pharmaceuticals Stock Down 4.6 %

Shares of XENE opened at $39.83 on Wednesday. The company has a market cap of $3.04 billion, a price-to-earnings ratio of -14.12 and a beta of 1.25. Xenon Pharmaceuticals has a twelve month low of $28.10 and a twelve month high of $50.99. The company has a 50 day moving average of $41.21 and a two-hundred day moving average of $40.34.

Xenon Pharmaceuticals (NASDAQ:XENE) last posted its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported ($0.81) EPS for the quarter, topping the consensus estimate of ($0.82) by $0.01. During the same quarter last year, the company earned ($0.73) EPS. On average, sell-side analysts expect that Xenon Pharmaceuticals will post -3.12 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. FMR LLC grew its stake in shares of Xenon Pharmaceuticals by 2.2% in the 3rd quarter. FMR LLC now owns 6,917,684 shares of the biopharmaceutical company’s stock valued at $272,349,000 after purchasing an additional 149,511 shares during the last quarter. Driehaus Capital Management LLC boosted its stake in shares of Xenon Pharmaceuticals by 2.3% in the second quarter. Driehaus Capital Management LLC now owns 4,419,472 shares of the biopharmaceutical company’s stock valued at $172,315,000 after buying an additional 97,732 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Xenon Pharmaceuticals by 0.4% in the third quarter. Wellington Management Group LLP now owns 3,843,447 shares of the biopharmaceutical company’s stock valued at $151,317,000 after buying an additional 15,226 shares in the last quarter. Braidwell LP raised its holdings in Xenon Pharmaceuticals by 5.7% during the third quarter. Braidwell LP now owns 2,707,255 shares of the biopharmaceutical company’s stock worth $106,585,000 after purchasing an additional 146,682 shares during the last quarter. Finally, Janus Henderson Group PLC raised its holdings in Xenon Pharmaceuticals by 144.2% during the third quarter. Janus Henderson Group PLC now owns 2,552,392 shares of the biopharmaceutical company’s stock worth $100,506,000 after purchasing an additional 1,507,135 shares during the last quarter. Hedge funds and other institutional investors 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.