Xenon Pharmaceuticals (NASDAQ:XENE) Stock Rating Reaffirmed by Royal Bank of Canada

Xenon Pharmaceuticals (NASDAQ:XENE)‘s stock had its “outperform” rating reissued by investment analysts at Royal Bank of Canada in a research note issued to investors on Tuesday, Benzinga reports. They presently have a $55.00 target price on the biopharmaceutical company’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 35.64% from the company’s previous close.

XENE has been the topic of a number of other research reports. Needham & Company LLC cut their price objective on shares of Xenon Pharmaceuticals from $62.00 to $60.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Cantor Fitzgerald reiterated an “overweight” rating and set a $65.00 price objective on shares of Xenon Pharmaceuticals in a research note on Friday, August 9th. Citigroup lowered their target price on Xenon Pharmaceuticals from $62.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. Finally, Wedbush reduced their price target on Xenon Pharmaceuticals from $50.00 to $49.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. One research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $58.78.

Xenon Pharmaceuticals Price Performance

Shares of XENE stock opened at $40.55 on Tuesday. The business has a fifty day moving average of $40.41 and a 200 day moving average of $41.34. The firm has a market capitalization of $3.06 billion, a price-to-earnings ratio of -14.96 and a beta of 1.26. Xenon Pharmaceuticals has a 1 year low of $27.99 and a 1 year high of $50.99.

Xenon Pharmaceuticals (NASDAQ:XENE) last released its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.75) EPS for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.05). During the same period in the previous year, the business earned ($0.72) earnings per share. As a group, equities research analysts expect that Xenon Pharmaceuticals will post -3.16 earnings per share for the current year.

Institutional Trading of Xenon Pharmaceuticals

Several large investors have recently bought and sold shares of XENE. Point72 Asset Management L.P. grew its holdings in Xenon Pharmaceuticals by 74.7% in the 2nd quarter. Point72 Asset Management L.P. now owns 482,022 shares of the biopharmaceutical company’s stock valued at $18,794,000 after buying an additional 206,163 shares in the last quarter. Quarry LP increased its position in Xenon Pharmaceuticals by 207.7% during the second quarter. Quarry LP now owns 4,000 shares of the biopharmaceutical company’s stock worth $156,000 after purchasing an additional 2,700 shares during the last quarter. Driehaus Capital Management LLC raised its stake in Xenon Pharmaceuticals by 2.3% during the second quarter. Driehaus Capital Management LLC now owns 4,419,472 shares of the biopharmaceutical company’s stock worth $172,315,000 after purchasing an additional 97,732 shares during the period. Millennium Management LLC boosted its holdings in Xenon Pharmaceuticals by 109.9% in the 2nd quarter. Millennium Management LLC now owns 175,584 shares of the biopharmaceutical company’s stock valued at $6,846,000 after purchasing an additional 91,923 shares during the last quarter. Finally, Affinity Asset Advisors LLC grew its stake in shares of Xenon Pharmaceuticals by 18.7% in the 2nd quarter. Affinity Asset Advisors LLC now owns 994,227 shares of the biopharmaceutical company’s stock valued at $38,765,000 after buying an additional 156,840 shares during the period. Hedge funds and other institutional investors own 95.45% of the company’s stock.

Xenon Pharmaceuticals Company Profile

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.