Xenon Pharmaceuticals’ (XENE) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Xenon Pharmaceuticals (NASDAQ:XENE) in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a $53.00 price objective on the biopharmaceutical company’s stock.

Several other research analysts also recently commented on XENE. Royal Bank of Canada reiterated an “outperform” rating and issued a $55.00 price objective on shares of Xenon Pharmaceuticals in a report on Tuesday, September 3rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $60.00 price target on shares of Xenon Pharmaceuticals in a research note on Wednesday, November 13th. Raymond James reiterated an “outperform” rating and issued a $50.00 price objective on shares of Xenon Pharmaceuticals in a research report on Thursday, October 10th. Finally, William Blair upgraded shares of Xenon Pharmaceuticals to a “strong-buy” rating in a report on Friday, August 30th. Ten research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Xenon Pharmaceuticals has a consensus rating of “Buy” and an average target price of $56.90.

Xenon Pharmaceuticals Price Performance

XENE stock opened at $40.05 on Thursday. Xenon Pharmaceuticals has a one year low of $35.53 and a one year high of $50.99. The company’s 50 day moving average price is $41.91 and its two-hundred day moving average price is $40.41.

Xenon Pharmaceuticals (NASDAQ:XENE) last released its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.81) EPS for the quarter, beating the consensus estimate of ($0.82) by $0.01. During the same quarter in the prior year, the business posted ($0.73) EPS. As a group, analysts anticipate that Xenon Pharmaceuticals will post -3.1 earnings per share for the current year.

Insider Buying and Selling

In other Xenon Pharmaceuticals news, Director Gary Patou sold 4,891 shares of Xenon Pharmaceuticals stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $41.08, for a total transaction of $200,922.28. Following the sale, the director now directly owns 23,573 shares of the company’s stock, valued at approximately $968,378.84. The trade was a 17.18 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 5.52% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Blue Trust Inc. increased its stake in shares of Xenon Pharmaceuticals by 174.7% in the 3rd quarter. Blue Trust Inc. now owns 1,008 shares of the biopharmaceutical company’s stock worth $39,000 after acquiring an additional 641 shares in the last quarter. nVerses Capital LLC purchased a new stake in Xenon Pharmaceuticals in the third quarter worth about $102,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Xenon Pharmaceuticals by 21.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,740 shares of the biopharmaceutical company’s stock valued at $106,000 after purchasing an additional 487 shares in the last quarter. Quarry LP lifted its holdings in shares of Xenon Pharmaceuticals by 207.7% during the second quarter. Quarry LP now owns 4,000 shares of the biopharmaceutical company’s stock valued at $156,000 after purchasing an additional 2,700 shares during the last quarter. Finally, Vestcor Inc purchased a new position in shares of Xenon Pharmaceuticals during the third quarter valued at approximately $327,000. 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.