Xenon Pharmaceuticals’ (XENE) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Xenon Pharmaceuticals (NASDAQ:XENE) in a report issued on Wednesday,Benzinga reports. Needham & Company LLC currently has a $60.00 price objective on the biopharmaceutical company’s stock.

XENE has been the subject of a number of other research reports. Wedbush reduced their price objective on Xenon Pharmaceuticals from $50.00 to $49.00 and set an “outperform” rating for the company in a report on Friday, August 9th. HC Wainwright started coverage on Xenon Pharmaceuticals in a report on Tuesday, October 1st. They issued a “buy” rating and a $53.00 price objective on the stock. William Blair raised Xenon Pharmaceuticals to a “strong-buy” rating in a report on Friday, August 30th. Cantor Fitzgerald restated an “overweight” rating and issued a $65.00 price target on shares of Xenon Pharmaceuticals in a research note on Friday, August 9th. Finally, Raymond James reiterated an “outperform” rating and issued a $50.00 price objective on shares of Xenon Pharmaceuticals in a research note on Thursday, October 10th. Eleven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $57.45.

Xenon Pharmaceuticals Trading Down 4.6 %

Shares of NASDAQ XENE opened at $39.83 on Wednesday. Xenon Pharmaceuticals has a 12 month low of $28.10 and a 12 month high of $50.99. The stock has a 50 day moving average of $41.18 and a 200-day moving average of $40.36. The company has a market capitalization of $3.04 billion, a P/E ratio of -14.21 and a beta of 1.25.

Xenon Pharmaceuticals (NASDAQ:XENE) last announced its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.81) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.82) by $0.01. During the same period last year, the company posted ($0.73) EPS. Analysts predict that Xenon Pharmaceuticals will post -3.1 EPS for the current fiscal year.

Hedge Funds Weigh In On Xenon Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. raised its stake in Xenon Pharmaceuticals by 21.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,740 shares of the biopharmaceutical company’s stock worth $106,000 after acquiring an additional 487 shares in the last quarter. California State Teachers Retirement System increased its position in Xenon Pharmaceuticals by 0.9% during the 1st quarter. California State Teachers Retirement System now owns 56,477 shares of the biopharmaceutical company’s stock worth $2,431,000 after purchasing an additional 490 shares in the last quarter. Advisors Asset Management Inc. lifted its stake in Xenon Pharmaceuticals by 3.8% in the 3rd quarter. Advisors Asset Management Inc. now owns 13,592 shares of the biopharmaceutical company’s stock valued at $535,000 after purchasing an additional 493 shares during the last quarter. ProShare Advisors LLC boosted its position in Xenon Pharmaceuticals by 12.0% in the first quarter. ProShare Advisors LLC now owns 5,286 shares of the biopharmaceutical company’s stock valued at $228,000 after buying an additional 565 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in shares of Xenon Pharmaceuticals by 174.7% during the third quarter. Blue Trust Inc. now owns 1,008 shares of the biopharmaceutical company’s stock worth $39,000 after buying an additional 641 shares during the last quarter. Institutional investors 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.