Xenon Pharmaceuticals (NASDAQ:XENE) Earns Buy Rating from Analysts at Deutsche Bank Aktiengesellschaft

Equities research analysts at Deutsche Bank Aktiengesellschaft started coverage on shares of Xenon Pharmaceuticals (NASDAQ:XENE) in a research report issued to clients and investors on Tuesday, MarketBeat.com reports. The brokerage set a “buy” rating and a $67.00 price target on the biopharmaceutical company’s stock. Deutsche Bank Aktiengesellschaft’s target price would suggest a potential upside of 69.62% from the company’s previous close.

XENE has been the topic of several other reports. Needham & Company LLC reiterated a “buy” rating and issued a $60.00 target price on shares of Xenon Pharmaceuticals in a research note on Wednesday, November 13th. HC Wainwright reiterated a “buy” rating and issued a $53.00 target price on shares of Xenon Pharmaceuticals in a research note on Thursday, December 12th. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $57.38.

Xenon Pharmaceuticals Stock Up 2.9 %

XENE opened at $39.50 on Tuesday. The firm has a market cap of $3.01 billion, a price-to-earnings ratio of -14.01 and a beta of 1.20. Xenon Pharmaceuticals has a 52 week low of $35.53 and a 52 week high of $50.99. The business’s 50 day moving average is $39.84 and its two-hundred day moving average is $40.56.

Xenon Pharmaceuticals (NASDAQ:XENE) last announced its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.81) earnings per share for the quarter, beating the consensus estimate of ($0.82) by $0.01. During the same period in the previous year, the company earned ($0.73) earnings per share. Equities analysts expect that Xenon Pharmaceuticals will post -3.13 EPS for the current fiscal year.

Insider Activity at Xenon Pharmaceuticals

In related news, CEO Ian Mortimer sold 22,468 shares of Xenon Pharmaceuticals stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $40.20, for a total value of $903,213.60. Following the sale, the chief executive officer now directly owns 31,302 shares in the company, valued at $1,258,340.40. The trade was a 41.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Sherry Aulin sold 18,709 shares of Xenon Pharmaceuticals stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $41.21, for a total value of $770,997.89. The disclosure for this sale can be found here. Insiders have sold a total of 62,383 shares of company stock worth $2,535,891 over the last three months. 5.52% of the stock is currently owned by corporate insiders.

Institutional Trading of Xenon Pharmaceuticals

A number of institutional investors have recently modified their holdings of the business. nVerses Capital LLC purchased a new stake in Xenon Pharmaceuticals during the third quarter worth $102,000. Blue Trust Inc. boosted its position in Xenon Pharmaceuticals by 174.7% during the third quarter. Blue Trust Inc. now owns 1,008 shares of the biopharmaceutical company’s stock worth $39,000 after purchasing an additional 641 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in Xenon Pharmaceuticals by 188.4% during the third quarter. Assenagon Asset Management S.A. now owns 212,287 shares of the biopharmaceutical company’s stock worth $8,358,000 after purchasing an additional 138,685 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Xenon Pharmaceuticals by 21.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,740 shares of the biopharmaceutical company’s stock worth $106,000 after purchasing an additional 487 shares in the last quarter. Finally, abrdn plc boosted its position in Xenon Pharmaceuticals by 16.9% during the third quarter. abrdn plc now owns 248,311 shares of the biopharmaceutical company’s stock worth $9,776,000 after purchasing an additional 35,809 shares in the last quarter. 95.45% of the stock is currently owned by hedge funds and other institutional investors.

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.