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

Xenon Pharmaceuticals (NASDAQ:XENE)‘s stock had its “buy” rating reiterated by analysts at HC Wainwright in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $53.00 target price on the biopharmaceutical company’s stock. HC Wainwright’s price objective indicates a potential upside of 26.95% from the stock’s current price.

Several other research firms also recently issued reports on XENE. William Blair upgraded Xenon Pharmaceuticals to a “strong-buy” rating in a research note on Friday, August 30th. Cantor Fitzgerald reissued an “overweight” rating and issued a $65.00 target price on shares of Xenon Pharmaceuticals in a research report on Friday, August 9th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $55.00 price target on shares of Xenon Pharmaceuticals in a research report on Tuesday, September 3rd. Wedbush cut their price objective on shares of Xenon Pharmaceuticals from $50.00 to $49.00 and set an “outperform” rating for the company in a report on Friday, August 9th. Finally, 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. Eleven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $57.45.

Xenon Pharmaceuticals Price Performance

Shares of XENE opened at $41.75 on Wednesday. The company’s 50-day moving average is $41.14 and its 200-day moving average is $40.35. The firm has a market capitalization of $3.16 billion, a PE ratio of -14.91 and a beta of 1.25. Xenon Pharmaceuticals has a fifty-two week low of $28.10 and a fifty-two week high of $50.99.

Xenon Pharmaceuticals (NASDAQ:XENE) last released its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.81) earnings per share for the quarter, beating the consensus estimate of ($0.82) by $0.01. During the same quarter in the prior year, the firm earned ($0.73) earnings per share. Analysts predict that Xenon Pharmaceuticals will post -3.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in XENE. BNP Paribas Financial Markets boosted its holdings in shares of Xenon Pharmaceuticals by 89.5% in the 1st quarter. BNP Paribas Financial Markets now owns 8,321 shares of the biopharmaceutical company’s stock valued at $358,000 after purchasing an additional 3,931 shares in the last quarter. SG Americas Securities LLC grew its position in Xenon Pharmaceuticals by 9.5% in the first quarter. SG Americas Securities LLC now owns 20,366 shares of the biopharmaceutical company’s stock valued at $877,000 after acquiring an additional 1,760 shares during the last quarter. Oppenheimer Asset Management Inc. grew its position in Xenon Pharmaceuticals by 21.4% in the first quarter. Oppenheimer Asset Management Inc. now owns 5,374 shares of the biopharmaceutical company’s stock valued at $231,000 after acquiring an additional 946 shares during the last quarter. Russell Investments Group Ltd. raised its stake in Xenon Pharmaceuticals by 2.2% during the first quarter. Russell Investments Group Ltd. now owns 178,099 shares of the biopharmaceutical company’s stock worth $7,667,000 after acquiring an additional 3,813 shares in the last quarter. Finally, ProShare Advisors LLC lifted its holdings in shares of Xenon Pharmaceuticals by 12.0% in the first quarter. ProShare Advisors LLC now owns 5,286 shares of the biopharmaceutical company’s stock worth $228,000 after acquiring an additional 565 shares during the last quarter. 95.45% of the stock is currently owned by institutional investors and hedge funds.

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.