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

Xenon Pharmaceuticals (NASDAQ:XENE)‘s stock had its “buy” rating reaffirmed by research analysts at HC Wainwright in a note issued to investors on Monday,Benzinga reports. They currently have a $53.00 price objective on the biopharmaceutical company’s stock. HC Wainwright’s price objective would indicate a potential upside of 33.40% from the stock’s current price.

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

Xenon Pharmaceuticals Price Performance

Xenon Pharmaceuticals stock opened at $39.73 on Monday. Xenon Pharmaceuticals has a 12 month low of $35.53 and a 12 month high of $50.99. The stock has a market capitalization of $3.03 billion, a PE ratio of -14.09 and a beta of 1.20. The business has a 50 day simple moving average of $39.45 and a 200-day simple moving average of $40.37.

Insider Buying and Selling at Xenon Pharmaceuticals

In related news, CEO Ian Mortimer sold 22,468 shares of the stock in a transaction on Friday, January 24th. The stock was sold at an average price of $40.20, for a total value of $903,213.60. Following the transaction, the chief executive officer now directly owns 31,302 shares of the company’s stock, valued at approximately $1,258,340.40. This trade represents a 41.79 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Sherry Aulin sold 18,709 shares of Xenon Pharmaceuticals stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $41.21, for a total value of $770,997.89. The disclosure for this sale can be found here. Insiders sold 57,492 shares of company stock worth $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

A number of large investors have recently modified their holdings of XENE. Janus Henderson Group PLC grew its holdings in shares of Xenon Pharmaceuticals by 144.2% during the 3rd quarter. Janus Henderson Group PLC now owns 2,552,392 shares of the biopharmaceutical company’s stock worth $100,506,000 after purchasing an additional 1,507,135 shares during the period. JPMorgan Chase & Co. grew its stake in Xenon Pharmaceuticals by 1,263.2% during the third quarter. JPMorgan Chase & Co. now owns 976,783 shares of the biopharmaceutical company’s stock worth $38,456,000 after buying an additional 905,129 shares during the period. FMR LLC increased its position in shares of Xenon Pharmaceuticals by 8.8% in the fourth quarter. FMR LLC now owns 7,525,290 shares of the biopharmaceutical company’s stock worth $294,991,000 after acquiring an additional 607,606 shares in the last quarter. Boxer Capital Management LLC purchased a new position in shares of Xenon Pharmaceuticals in the 4th quarter valued at $23,520,000. Finally, Stempoint Capital LP acquired a new position in shares of Xenon Pharmaceuticals during the 4th quarter valued at $14,733,000. 95.45% of the stock is currently owned by hedge funds and other institutional investors.

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.