Xenon Pharmaceuticals (NASDAQ:XENE) Receives “Outperform” Rating from William Blair

Xenon Pharmaceuticals (NASDAQ:XENE)‘s stock had its “outperform” rating reiterated by stock analysts at William Blair in a report released on Friday,RTT News reports.

A number of other equities research analysts also recently weighed in on XENE. Deutsche Bank Aktiengesellschaft initiated coverage on Xenon Pharmaceuticals in a report on Tuesday, February 11th. They issued a “buy” rating and a $67.00 target price on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $60.00 target price on shares of Xenon Pharmaceuticals in a research report on Wednesday, November 13th. Finally, HC Wainwright reissued a “buy” rating and issued a $53.00 target price on shares of Xenon Pharmaceuticals in a report on Monday. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Xenon Pharmaceuticals has an average rating of “Buy” and a consensus target price of $57.38.

Xenon Pharmaceuticals Stock Performance

Shares of NASDAQ XENE traded down $2.07 during midday trading on Friday, reaching $36.25. The company’s stock had a trading volume of 738,164 shares, compared to its average volume of 424,968. The company has a market cap of $2.76 billion, a P/E ratio of -12.87 and a beta of 1.20. The business’s 50 day moving average price is $39.30 and its two-hundred day moving average price is $40.32. Xenon Pharmaceuticals has a fifty-two week low of $33.27 and a fifty-two week high of $50.99.

Xenon Pharmaceuticals (NASDAQ:XENE) last announced its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($0.84) earnings per share for the quarter, beating the consensus estimate of ($0.89) by $0.05. Sell-side analysts forecast that Xenon Pharmaceuticals will post -3.1 earnings per share for the current fiscal year.

Insider Buying and Selling at Xenon Pharmaceuticals

In other news, CEO Ian Mortimer sold 22,468 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $40.20, for a total value of $903,213.60. Following the transaction, the chief executive officer now owns 31,302 shares in the company, valued at approximately $1,258,340.40. The trade was a 41.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Sherry Aulin sold 18,709 shares of the company’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $41.21, for a total transaction of $770,997.89. The disclosure for this sale can be found here. In the last quarter, insiders have sold 57,492 shares of company stock worth $2,334,969. Insiders own 5.52% of the company’s stock.

Hedge Funds Weigh In On Xenon Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the company. Loomis Sayles & Co. L P grew its holdings in Xenon Pharmaceuticals by 7.1% during the 3rd quarter. Loomis Sayles & Co. L P now owns 707,222 shares of the biopharmaceutical company’s stock worth $27,843,000 after acquiring an additional 46,964 shares during the period. Vestal Point Capital LP boosted its position in shares of Xenon Pharmaceuticals by 57.1% during the 3rd quarter. Vestal Point Capital LP now owns 825,000 shares of the biopharmaceutical company’s stock valued at $32,480,000 after purchasing an additional 300,000 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in Xenon Pharmaceuticals by 4.3% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 439,074 shares of the biopharmaceutical company’s stock worth $17,287,000 after purchasing an additional 17,953 shares during the period. JPMorgan Chase & Co. increased its holdings in Xenon Pharmaceuticals by 1,263.2% in the third quarter. JPMorgan Chase & Co. now owns 976,783 shares of the biopharmaceutical company’s stock worth $38,456,000 after purchasing an additional 905,129 shares in the last quarter. Finally, Barclays PLC increased its holdings in Xenon Pharmaceuticals by 1,275.5% in the third quarter. Barclays PLC now owns 14,993 shares of the biopharmaceutical company’s stock worth $590,000 after purchasing an additional 13,903 shares in the last quarter. Institutional investors and hedge funds own 95.45% of the company’s stock.

About Xenon Pharmaceuticals

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.