Cantor Fitzgerald Reaffirms Overweight Rating for Xenon Pharmaceuticals (NASDAQ:XENE)

Cantor Fitzgerald restated their overweight rating on shares of Xenon Pharmaceuticals (NASDAQ:XENE) in a research note released on Wednesday, Benzinga reports. They currently have a $65.00 price target on the biopharmaceutical company’s stock.

A number of other research analysts have also recently commented on XENE. JPMorgan Chase & Co. upped their target price on shares of Xenon Pharmaceuticals from $54.00 to $59.00 and gave the company an outperform rating in a research report on Tuesday, December 19th. Wedbush upped their target price on shares of Xenon Pharmaceuticals from $46.00 to $51.00 and gave the company an outperform rating in a research report on Friday, March 1st. Bank of America upped their target price on shares of Xenon Pharmaceuticals from $52.00 to $56.00 and gave the company a buy rating in a research report on Tuesday, January 2nd. Citigroup assumed coverage on shares of Xenon Pharmaceuticals in a research note on Thursday, January 4th. They set a buy rating and a $62.00 price target on the stock. Finally, Stifel Nicolaus boosted their price target on shares of Xenon Pharmaceuticals from $53.00 to $62.00 and gave the stock a buy rating in a research note on Monday, December 18th. One research analyst has rated the stock with a sell rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $59.44.

Xenon Pharmaceuticals Stock Down 1.4 %

Shares of XENE opened at $42.43 on Wednesday. Xenon Pharmaceuticals has a 52-week low of $27.99 and a 52-week high of $50.99. The firm’s fifty day moving average is $45.66 and its two-hundred day moving average is $40.56. The stock has a market cap of $3.20 billion, a PE ratio of -15.60 and a beta of 1.15.

Xenon Pharmaceuticals (NASDAQ:XENE) last announced its quarterly earnings results on Thursday, February 29th. The biopharmaceutical company reported ($0.64) earnings per share for the quarter, beating the consensus estimate of ($0.76) by $0.12. The business’s revenue was up .0% on a year-over-year basis. During the same quarter last year, the firm posted ($0.57) EPS. As a group, research analysts anticipate that Xenon Pharmaceuticals will post -3.04 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Steven Gannon sold 13,000 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $46.28, for a total transaction of $601,640.00. Following the sale, the director now directly owns 2,000 shares in the company, valued at $92,560. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Xenon Pharmaceuticals news, Director Steven Gannon sold 13,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $46.28, for a total transaction of $601,640.00. Following the sale, the director now owns 2,000 shares of the company’s stock, valued at $92,560. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Sherrington Robin sold 7,137 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $46.28, for a total transaction of $330,300.36. Following the sale, the executive vice president now directly owns 8,398 shares in the company, valued at approximately $388,659.44. The disclosure for this sale can be found here. Insiders own 5.43% of the company’s stock.

Institutional Trading of Xenon Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA grew its position in shares of Xenon Pharmaceuticals by 1,567.5% during the first quarter. BNP Paribas Arbitrage SA now owns 1,334 shares of the biopharmaceutical company’s stock worth $41,000 after acquiring an additional 1,254 shares during the last quarter. US Bancorp DE grew its position in shares of Xenon Pharmaceuticals by 260.2% during the fourth quarter. US Bancorp DE now owns 933 shares of the biopharmaceutical company’s stock worth $43,000 after acquiring an additional 674 shares during the last quarter. Wells Fargo & Company MN grew its position in shares of Xenon Pharmaceuticals by 124.6% during the fourth quarter. Wells Fargo & Company MN now owns 1,123 shares of the biopharmaceutical company’s stock worth $44,000 after acquiring an additional 623 shares during the last quarter. Tower Research Capital LLC TRC grew its position in shares of Xenon Pharmaceuticals by 414.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,014 shares of the biopharmaceutical company’s stock worth $47,000 after acquiring an additional 817 shares during the last quarter. Finally, Parallel Advisors LLC grew its position in shares of Xenon Pharmaceuticals by 51.2% during the fourth quarter. Parallel Advisors LLC now owns 1,125 shares of the biopharmaceutical company’s stock worth $52,000 after acquiring an additional 381 shares during the last quarter. Institutional investors and hedge funds own 95.45% of the company’s stock.

Xenon Pharmaceuticals Company Profile

Xenon Pharmaceuticals Inc, a clinical-stage biopharmaceutical company, engages in developing therapeutics to treat patients with neurological disorders in Canada. Its clinical development pipeline includes XEN496, a Kv7 potassium channel opener that is Phase III clinical trials for the treatment of KCNQ2 developmental and epileptic encephalopathy; and XEN1101, a Kv7 potassium channel opener, which is in Phase II clinical trial for the treatment of epilepsy and other neurological disorders.