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

HC Wainwright restated their buy rating on shares of Xenon Pharmaceuticals (NASDAQ:XENE) in a research report sent to investors on Monday morning,Benzinga reports. They currently have a $53.00 price target on the biopharmaceutical company’s stock.

Other research analysts have also issued reports about the company. Needham & Company LLC reiterated a “buy” rating and issued a $60.00 price objective on shares of Xenon Pharmaceuticals in a research report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft initiated coverage on Xenon Pharmaceuticals in a research note on Tuesday, February 11th. They set a “buy” rating and a $67.00 price target on the stock. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $57.38.

Xenon Pharmaceuticals Price Performance

XENE opened at $38.37 on Monday. The stock has a market capitalization of $2.93 billion, a P/E ratio of -13.61 and a beta of 1.20. The company’s 50 day simple moving average is $39.45 and its 200-day simple moving average is $40.37. Xenon Pharmaceuticals has a one year low of $35.53 and a one year high of $50.99.

Insider Activity

In other news, CEO Ian Mortimer sold 16,315 shares of the company’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $40.50, for a total value of $660,757.50. Following the completion of the sale, the chief executive officer now directly owns 31,302 shares of the company’s stock, valued at $1,267,731. This represents a 34.26 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Sherry Aulin sold 18,709 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $41.21, for a total transaction of $770,997.89. The disclosure for this sale can be found here. Insiders have sold a total of 57,492 shares of company stock valued at $2,334,969 in the last 90 days. 5.52% of the stock is owned by company insiders.

Hedge Funds Weigh In On Xenon Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in XENE. Blue Trust Inc. raised its stake in Xenon Pharmaceuticals by 174.7% during the 3rd quarter. Blue Trust Inc. now owns 1,008 shares of the biopharmaceutical company’s stock worth $39,000 after buying an additional 641 shares during the period. GF Fund Management CO. LTD. bought a new stake in shares of Xenon Pharmaceuticals in the fourth quarter worth about $63,000. Quarry LP acquired a new stake in shares of Xenon Pharmaceuticals during the fourth quarter worth about $78,000. Avior Wealth Management LLC bought a new position in shares of Xenon Pharmaceuticals during the 4th quarter valued at about $101,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Xenon Pharmaceuticals by 21.6% in the 3rd 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 during the period. Institutional investors and hedge funds 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.