Xenon Pharmaceuticals (NASDAQ:XENE – Get Free Report) had its price objective decreased by investment analysts at Wedbush from $50.00 to $49.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the biopharmaceutical company’s stock. Wedbush’s price objective points to a potential upside of 23.43% from the stock’s previous close.
Other research analysts also recently issued research reports about the company. Citigroup reduced their target price on Xenon Pharmaceuticals from $62.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, May 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $62.00 target price on shares of Xenon Pharmaceuticals in a report on Friday, May 10th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $55.00 target price on shares of Xenon Pharmaceuticals in a report on Tuesday, June 18th. One equities research analyst has rated the stock with a sell rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $59.00.
Check Out Our Latest Report on Xenon Pharmaceuticals
Xenon Pharmaceuticals Price Performance
Xenon Pharmaceuticals (NASDAQ:XENE – Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.75) EPS for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.03). During the same quarter in the previous year, the firm earned ($0.72) earnings per share. As a group, research analysts forecast that Xenon Pharmaceuticals will post -2.98 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Xenon Pharmaceuticals
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC boosted its stake in Xenon Pharmaceuticals by 64.7% during the 2nd quarter. Renaissance Technologies LLC now owns 92,900 shares of the biopharmaceutical company’s stock valued at $3,622,000 after purchasing an additional 36,500 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Xenon Pharmaceuticals by 6.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 436,460 shares of the biopharmaceutical company’s stock valued at $17,011,000 after purchasing an additional 26,253 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in Xenon Pharmaceuticals by 1.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 48,946 shares of the biopharmaceutical company’s stock valued at $1,908,000 after purchasing an additional 769 shares in the last quarter. Arizona State Retirement System boosted its stake in Xenon Pharmaceuticals by 4.0% during the 2nd quarter. Arizona State Retirement System now owns 17,949 shares of the biopharmaceutical company’s stock valued at $700,000 after purchasing an additional 688 shares in the last quarter. Finally, Fiera Capital Corp boosted its stake in Xenon Pharmaceuticals by 1.1% during the 2nd quarter. Fiera Capital Corp now owns 582,879 shares of the biopharmaceutical company’s stock valued at $22,726,000 after purchasing an additional 6,337 shares in the last quarter. 95.45% of the stock is owned by institutional investors.
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.
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