Xenon Pharmaceuticals (NASDAQ:XENE) PT Raised to $59.00 at JPMorgan Chase & Co.
Xenon Pharmaceuticals (NASDAQ:XENE – Get Free Report) had its price objective lifted by analysts at JPMorgan Chase & Co. from $54.00 to $59.00 in a research report issued to clients and investors on Tuesday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the biopharmaceutical company’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 39.51% from the stock’s current price.
A number of other research firms have also recently issued reports on XENE. Wedbush reduced their target price on shares of Xenon Pharmaceuticals from $47.00 to $46.00 and set an “outperform” rating for the company in a research note on Thursday, November 9th. StockNews.com started coverage on shares of Xenon Pharmaceuticals in a research note on Thursday, October 5th. They set a “sell” rating for the company. Stifel Nicolaus upped their target price on shares of Xenon Pharmaceuticals from $53.00 to $62.00 and gave the company a “buy” rating in a research note on Monday. Robert W. Baird started coverage on shares of Xenon Pharmaceuticals in a research note on Friday, December 8th. They set an “outperform” rating and a $63.00 target price for the company. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Xenon Pharmaceuticals in a research note on Tuesday, October 24th. One equities research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $56.29.
View Our Latest Analysis on Xenon Pharmaceuticals
Xenon Pharmaceuticals Stock Up 2.8 %
Shares of XENE traded up $1.14 on Tuesday, hitting $42.29. 263,621 shares of the stock traded hands, compared to its average volume of 437,388. The firm has a market capitalization of $2.77 billion, a P/E ratio of -15.97 and a beta of 1.34. Xenon Pharmaceuticals has a 1 year low of $27.99 and a 1 year high of $43.75. The stock’s 50 day moving average is $33.89 and its two-hundred day moving average is $36.56.
Xenon Pharmaceuticals (NASDAQ:XENE – Get Free Report) last announced its quarterly earnings data on Wednesday, November 8th. The biopharmaceutical company reported ($0.73) earnings per share for the quarter, topping the consensus estimate of ($0.75) by $0.02. During the same quarter last year, the business earned ($0.57) EPS. Research analysts forecast that Xenon Pharmaceuticals will post -2.87 EPS for the current year.
Insiders Place Their Bets
In other news, Director Gary Patou sold 11,380 shares of Xenon Pharmaceuticals stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $39.29, for a total transaction of $447,120.20. Following the completion of the sale, the director now owns 23,573 shares in the company, valued at approximately $926,183.17. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 5.43% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Xenon Pharmaceuticals
Large investors have recently bought and sold shares of the stock. Bank of Montreal Can purchased a new position in shares of Xenon Pharmaceuticals during the second quarter valued at approximately $7,833,000. Moran Wealth Management LLC increased its stake in shares of Xenon Pharmaceuticals by 1.9% during the second quarter. Moran Wealth Management LLC now owns 68,930 shares of the biopharmaceutical company’s stock valued at $2,654,000 after buying an additional 1,317 shares during the period. Arizona State Retirement System increased its stake in shares of Xenon Pharmaceuticals by 4.2% during the second quarter. Arizona State Retirement System now owns 14,165 shares of the biopharmaceutical company’s stock valued at $545,000 after buying an additional 574 shares during the period. Natixis purchased a new position in shares of Xenon Pharmaceuticals during the second quarter valued at approximately $270,000. Finally, Fiera Capital Corp bought a new stake in shares of Xenon Pharmaceuticals during the second quarter valued at approximately $21,150,000. 95.70% of the stock is owned by hedge funds and other institutional investors.
About Xenon Pharmaceuticals (Get Free Report)
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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