Xenon Pharmaceuticals (NASDAQ:XENE) Coverage Initiated by Analysts at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft started coverage on shares of Xenon Pharmaceuticals (NASDAQ:XENE) in a research report released on Tuesday, Marketbeat Ratings reports. The firm issued a buy rating and a $67.00 target price on the biopharmaceutical company’s stock.

Several other analysts have also recently issued reports on XENE. Needham & Company LLC reaffirmed a “buy” rating and issued a $60.00 price target on shares of Xenon Pharmaceuticals in a report on Wednesday, November 13th. HC Wainwright restated a “buy” rating and issued a $53.00 target price on shares of Xenon Pharmaceuticals in a research note on Thursday, December 12th. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $57.38.

Xenon Pharmaceuticals Stock Performance

Shares of NASDAQ XENE opened at $38.39 on Tuesday. Xenon Pharmaceuticals has a 1 year low of $35.53 and a 1 year high of $50.99. The stock’s 50-day simple moving average is $39.91 and its 200-day simple moving average is $40.60. The firm has a market cap of $2.93 billion, a price-to-earnings ratio of -13.61 and a beta of 1.20.

Xenon Pharmaceuticals (NASDAQ:XENE) last posted its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported ($0.81) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.82) by $0.01. During the same period in the previous year, the company earned ($0.73) EPS. As a group, research analysts predict that Xenon Pharmaceuticals will post -3.13 EPS for the current year.

Insider Activity

In related news, CEO Ian Mortimer sold 16,315 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $40.50, for a total transaction of $660,757.50. Following the completion of the transaction, the chief executive officer now owns 31,302 shares in the company, valued at $1,267,731. The trade was a 34.26 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Gary Patou sold 4,891 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $41.08, for a total value of $200,922.28. Following the completion of the sale, the director now directly owns 23,573 shares in the company, valued at $968,378.84. This represents a 17.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 62,383 shares of company stock valued at $2,535,891. Company insiders own 5.52% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Prudential Financial Inc. increased its stake in shares of Xenon Pharmaceuticals by 177.7% in the fourth quarter. Prudential Financial Inc. now owns 39,000 shares of the biopharmaceutical company’s stock valued at $1,529,000 after purchasing an additional 24,956 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in Xenon Pharmaceuticals in the 4th quarter valued at approximately $502,000. Magnetar Financial LLC bought a new stake in Xenon Pharmaceuticals during the 4th quarter valued at $210,000. Teacher Retirement System of Texas boosted its position in Xenon Pharmaceuticals by 18.6% during the 4th quarter. Teacher Retirement System of Texas now owns 19,083 shares of the biopharmaceutical company’s stock worth $748,000 after acquiring an additional 2,994 shares during the period. Finally, Swiss National Bank boosted its position in Xenon Pharmaceuticals by 1.0% during the 4th quarter. Swiss National Bank now owns 126,600 shares of the biopharmaceutical company’s stock worth $4,963,000 after acquiring an additional 1,300 shares during the period. 95.45% of the stock is 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.