Xenon Pharmaceuticals (NASDAQ:XENE) Receives Buy Rating from Chardan Capital

Chardan Capital reaffirmed their buy rating on shares of Xenon Pharmaceuticals (NASDAQ:XENE) in a research report report published on Tuesday morning,Benzinga reports. They currently have a $55.00 price objective on the biopharmaceutical company’s stock.

Other equities research analysts have also issued research reports about the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Xenon Pharmaceuticals in a report on Tuesday, February 11th. They set a “buy” rating and a $67.00 price target on the stock. Royal Bank of Canada restated an “outperform” rating on shares of Xenon Pharmaceuticals in a report on Friday, February 28th. Needham & Company LLC cut their price target on shares of Xenon Pharmaceuticals from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Tuesday. StockNews.com lowered shares of Xenon Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday, May 2nd. Finally, William Blair restated an “outperform” rating on shares of Xenon Pharmaceuticals in a report on Monday, May 5th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $54.80.

Xenon Pharmaceuticals Price Performance

NASDAQ XENE opened at $29.60 on Tuesday. The company’s 50 day simple moving average is $34.41 and its 200 day simple moving average is $38.18. Xenon Pharmaceuticals has a 12 month low of $26.74 and a 12 month high of $46.00. The company has a market capitalization of $2.27 billion, a P/E ratio of -10.50 and a beta of 1.21.

Xenon Pharmaceuticals (NASDAQ:XENE) last released its quarterly earnings results on Monday, May 12th. The biopharmaceutical company reported ($0.83) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.90) by $0.07. The firm had revenue of $7.50 million for the quarter, compared to analyst estimates of $1.64 million. During the same quarter in the prior year, the firm earned ($0.62) EPS. On average, analysts anticipate that Xenon Pharmaceuticals will post -3.1 earnings per share for the current year.

Institutional Trading of Xenon Pharmaceuticals

Several large investors have recently added to or reduced their stakes in the business. Aberdeen Group plc grew its position in Xenon Pharmaceuticals by 42.4% in the first quarter. Aberdeen Group plc now owns 404,154 shares of the biopharmaceutical company’s stock worth $13,559,000 after acquiring an additional 120,255 shares in the last quarter. Fox Run Management L.L.C. grew its position in Xenon Pharmaceuticals by 31.9% in the first quarter. Fox Run Management L.L.C. now owns 11,372 shares of the biopharmaceutical company’s stock worth $382,000 after acquiring an additional 2,751 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in Xenon Pharmaceuticals in the first quarter worth approximately $30,000. Mutual of America Capital Management LLC bought a new stake in Xenon Pharmaceuticals in the first quarter worth approximately $1,636,000. Finally, CenterBook Partners LP bought a new stake in Xenon Pharmaceuticals in the first quarter worth approximately $745,000. 95.45% of the stock is owned by 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.