Xenon Pharmaceuticals (NASDAQ:XENE) Stock Rating Reaffirmed by Cantor Fitzgerald

Xenon Pharmaceuticals (NASDAQ:XENE)‘s stock had its “overweight” rating reissued by Cantor Fitzgerald in a research note issued on Friday, Benzinga reports. They presently have a $65.00 target price on the biopharmaceutical company’s stock. Cantor Fitzgerald’s target price would suggest a potential upside of 63.73% from the stock’s current price.

Other research analysts have also recently issued research reports about the company. Citigroup decreased their target price on Xenon Pharmaceuticals from $62.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, May 10th. Wedbush decreased their target price on shares of Xenon Pharmaceuticals from $50.00 to $49.00 and set an “outperform” rating for the company in a research report on Friday. Royal Bank of Canada reissued an “outperform” rating and issued a $55.00 price objective on shares of Xenon Pharmaceuticals in a research note on Tuesday, June 18th. Finally, Needham & Company LLC reissued a “buy” rating and set a $62.00 target price on shares of Xenon Pharmaceuticals in a research note on Friday, May 10th. One analyst has rated the stock with a sell rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Xenon Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.00.

Xenon Pharmaceuticals Stock Performance

XENE traded down $1.31 on Friday, reaching $39.70. The company had a trading volume of 399,057 shares, compared to its average volume of 404,791. The stock has a market cap of $3.00 billion, a P/E ratio of -14.65 and a beta of 1.26. Xenon Pharmaceuticals has a fifty-two week low of $27.99 and a fifty-two week high of $50.99. The company’s fifty day moving average is $39.71 and its 200 day moving average is $42.27.

Xenon Pharmaceuticals (NASDAQ:XENE) last announced its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.75) EPS for the quarter, missing the consensus estimate of ($0.72) by ($0.03). During the same period in the prior year, the company earned ($0.72) EPS. On average, sell-side analysts expect that Xenon Pharmaceuticals will post -2.98 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of XENE. Wellington Management Group LLP increased its holdings in shares of Xenon Pharmaceuticals by 140.9% in the fourth quarter. Wellington Management Group LLP now owns 4,162,654 shares of the biopharmaceutical company’s stock worth $191,732,000 after purchasing an additional 2,434,546 shares during the period. First Light Asset Management LLC lifted its position in Xenon Pharmaceuticals by 173.3% during the fourth quarter. First Light Asset Management LLC now owns 1,645,490 shares of the biopharmaceutical company’s stock valued at $75,791,000 after purchasing an additional 1,043,420 shares during the last quarter. Avoro Capital Advisors LLC grew its stake in Xenon Pharmaceuticals by 15.6% in the 4th quarter. Avoro Capital Advisors LLC now owns 5,666,666 shares of the biopharmaceutical company’s stock worth $261,007,000 after buying an additional 766,666 shares in the last quarter. First Turn Management LLC bought a new position in shares of Xenon Pharmaceuticals in the 4th quarter worth $31,339,000. Finally, Avidity Partners Management LP raised its position in Xenon Pharmaceuticals by 153.9% during the fourth quarter. Avidity Partners Management LP now owns 815,993 shares of the biopharmaceutical company’s stock valued at $37,585,000 after purchasing an additional 494,593 shares in the last quarter. 95.45% of the stock is owned by institutional investors.

About Xenon Pharmaceuticals

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.