JPMorgan Chase & Co. Issues Positive Forecast for Xenon Pharmaceuticals (NASDAQ:XENE) Stock Price

Xenon Pharmaceuticals (NASDAQ:XENE) had its target price lifted by analysts at JPMorgan Chase & Co. from $80.00 to $82.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the biopharmaceutical company’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 52.04% from the company’s current price.

A number of other research analysts also recently weighed in on XENE. Bank of America reaffirmed a “buy” rating on shares of Xenon Pharmaceuticals in a research note on Monday, March 9th. Needham & Company LLC lowered their target price on Xenon Pharmaceuticals from $80.00 to $78.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. HC Wainwright increased their target price on Xenon Pharmaceuticals from $53.00 to $74.00 and gave the stock a “buy” rating in a report on Tuesday, March 10th. Stifel Nicolaus set a $66.00 price target on shares of Xenon Pharmaceuticals in a research note on Tuesday, February 10th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Xenon Pharmaceuticals in a report on Wednesday, April 8th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $77.20.

Xenon Pharmaceuticals Stock Down 0.1%

XENE traded down $0.05 during midday trading on Wednesday, hitting $53.93. The company had a trading volume of 165,224 shares, compared to its average volume of 1,231,578. Xenon Pharmaceuticals has a 52 week low of $28.19 and a 52 week high of $63.95. The company has a market capitalization of $5.21 billion, a price-to-earnings ratio of -11.46 and a beta of 0.65. The stock’s 50 day moving average price is $56.05 and its 200 day moving average price is $47.82.

Xenon Pharmaceuticals (NASDAQ:XENE) last announced its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($1.17) earnings per share for the quarter, meeting the consensus estimate of ($1.17). During the same quarter last year, the business posted ($0.83) EPS. Research analysts predict that Xenon Pharmaceuticals will post -4.88 EPS for the current year.

Insider Activity at Xenon Pharmaceuticals

In other Xenon Pharmaceuticals news, insider Andrea Difabio sold 1,342 shares of the firm’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $55.23, for a total transaction of $74,118.66. Following the transaction, the insider directly owned 7,301 shares in the company, valued at approximately $403,234.23. This trade represents a 15.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christopher John Kenney sold 1,410 shares of the company’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $55.23, for a total transaction of $77,874.30. Following the completion of the sale, the insider owned 7,069 shares of the company’s stock, valued at approximately $390,420.87. The trade was a 16.63% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 296,707 shares of company stock valued at $17,845,365. 4.07% of the stock is owned by insiders.

Institutional Investors Weigh In On Xenon Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. lifted its position in shares of Xenon Pharmaceuticals by 7.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 442,732 shares of the biopharmaceutical company’s stock worth $14,854,000 after buying an additional 32,486 shares in the last quarter. Jump Financial LLC bought a new position in shares of Xenon Pharmaceuticals in the second quarter valued at approximately $532,000. Sei Investments Co. bought a new position in shares of Xenon Pharmaceuticals in the second quarter valued at approximately $711,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Xenon Pharmaceuticals during the second quarter valued at approximately $816,000. Finally, Alliancebernstein L.P. increased its position in shares of Xenon Pharmaceuticals by 14.2% during the second quarter. Alliancebernstein L.P. now owns 1,518,527 shares of the biopharmaceutical company’s stock valued at $47,530,000 after acquiring an additional 189,141 shares during the last quarter. 95.45% of the stock is owned by institutional investors.

Xenon Pharmaceuticals Company Profile

Xenon Pharmaceuticals Inc is a clinical?stage biopharmaceutical company dedicated to discovering and developing novel, small?molecule drugs targeting ion channels in the central and peripheral nervous system. The company’s research focus centers on neurological and pain disorders—including epilepsy, migraine, and neuropathic pain—by modulating key ion?channel proteins to restore normal neuronal function. Xenon’s scientific platform draws upon advances in ion?channel biology and structure?based drug design to identify and optimize therapeutic candidates with the potential for improved safety and efficacy profiles compared with existing treatments.

The company’s pipeline comprises multiple preclinical and clinical programs.