Xenon Pharmaceuticals (NASDAQ:XENE) Given “Outperform” Rating at William Blair

Xenon Pharmaceuticals (NASDAQ:XENE)‘s stock had its “outperform” rating reissued by research analysts at William Blair in a research report issued to clients and investors on Monday,RTT News reports.

A number of other research firms also recently commented on XENE. Royal Bank of Canada reiterated an “outperform” rating on shares of Xenon Pharmaceuticals in a report on Friday, February 28th. StockNews.com downgraded shares of Xenon Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday, May 2nd. HC Wainwright restated a “buy” rating and set a $53.00 price objective on shares of Xenon Pharmaceuticals in a report on Monday, February 24th. Deutsche Bank Aktiengesellschaft started coverage on shares of Xenon Pharmaceuticals in a report on Tuesday, February 11th. They issued a “buy” rating and a $67.00 target price on the stock. Finally, The Goldman Sachs Group reduced their price target on shares of Xenon Pharmaceuticals from $60.00 to $52.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. One investment analyst has rated the stock with a sell rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Xenon Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $56.78.

Xenon Pharmaceuticals Stock Performance

Shares of XENE stock opened at $35.18 on Monday. Xenon Pharmaceuticals has a 52 week low of $26.74 and a 52 week high of $46.00. The stock has a market capitalization of $2.69 billion, a PE ratio of -12.48 and a beta of 1.21. The stock’s fifty day moving average is $34.65 and its 200-day moving average is $38.46.

Xenon Pharmaceuticals (NASDAQ:XENE) last posted its quarterly earnings data 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, analysts forecast that Xenon Pharmaceuticals will post -3.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Prudential Financial Inc. lifted its holdings in shares of Xenon Pharmaceuticals by 177.7% in the fourth quarter. Prudential Financial Inc. now owns 39,000 shares of the biopharmaceutical company’s stock worth $1,529,000 after acquiring an additional 24,956 shares during the last quarter. JPMorgan Chase & Co. boosted its position 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 valued at $38,456,000 after buying an additional 905,129 shares in the last quarter. Barclays PLC grew its stake in shares of Xenon Pharmaceuticals by 1,275.5% during the third quarter. Barclays PLC now owns 14,993 shares of the biopharmaceutical company’s stock worth $590,000 after buying an additional 13,903 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Xenon Pharmaceuticals by 12.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 238,522 shares of the biopharmaceutical company’s stock valued at $9,350,000 after acquiring an additional 26,235 shares during the last quarter. Finally, Avior Wealth Management LLC acquired a new stake in shares of Xenon Pharmaceuticals during the 4th quarter valued at $101,000. 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.