The Goldman Sachs Group Cuts Xenon Pharmaceuticals (NASDAQ:XENE) Price Target to $52.00

Xenon Pharmaceuticals (NASDAQ:XENE) had its price objective reduced by The Goldman Sachs Group from $60.00 to $52.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have a buy rating on the biopharmaceutical company’s stock.

A number of other analysts also recently issued reports on the stock. William Blair reaffirmed an “outperform” rating on shares of Xenon Pharmaceuticals in a report on Friday, February 28th. StockNews.com cut shares of Xenon Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Xenon Pharmaceuticals in a research note on Tuesday, February 11th. They set a “buy” rating and a $67.00 target price for the company. HC Wainwright restated a “buy” rating and issued a $53.00 price target on shares of Xenon Pharmaceuticals in a research note on Monday, February 24th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating on shares of Xenon Pharmaceuticals in a report on Friday, February 28th. One research analyst has rated the stock with a sell rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $56.78.

Xenon Pharmaceuticals Stock Up 4.0 %

Shares of NASDAQ XENE opened at $35.14 on Thursday. The company has a 50 day moving average of $35.02 and a 200 day moving average of $38.79. Xenon Pharmaceuticals has a twelve month low of $26.74 and a twelve month high of $46.00. The firm has a market cap of $2.69 billion, a P/E ratio of -12.46 and a beta of 1.21.

Xenon Pharmaceuticals (NASDAQ:XENE) last posted its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.84) earnings per share for the quarter, topping the consensus estimate of ($0.89) by $0.05. As a group, equities analysts expect that Xenon Pharmaceuticals will post -3.1 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Ian Mortimer sold 16,315 shares of the company’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $40.50, for a total value of $660,757.50. Following the completion of the transaction, the chief executive officer now owns 31,302 shares of the company’s stock, valued at approximately $1,267,731. This represents a 34.26 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 5.52% of the company’s stock.

Hedge Funds Weigh In On Xenon Pharmaceuticals

Large investors have recently made changes to their positions in the business. GF Fund Management CO. LTD. purchased a new position in Xenon Pharmaceuticals in the 4th quarter worth approximately $63,000. Quarry LP bought a new stake in shares of Xenon Pharmaceuticals during the fourth quarter valued at approximately $78,000. Blue Trust Inc. boosted its position in shares of Xenon Pharmaceuticals by 140.3% during the fourth quarter. Blue Trust Inc. now owns 2,422 shares of the biopharmaceutical company’s stock worth $95,000 after acquiring an additional 1,414 shares during the last quarter. Avior Wealth Management LLC bought a new position in shares of Xenon Pharmaceuticals during the fourth quarter worth $101,000. Finally, KBC Group NV grew its stake in Xenon Pharmaceuticals by 39.8% during the fourth quarter. KBC Group NV now owns 2,742 shares of the biopharmaceutical company’s stock valued at $107,000 after acquiring an additional 780 shares in the last quarter. 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.