William Blair Reiterates Outperform Rating for Xenon Pharmaceuticals (NASDAQ:XENE)

Xenon Pharmaceuticals (NASDAQ:XENE)‘s stock had its “outperform” rating reaffirmed by research analysts at William Blair in a note issued to investors on Monday,RTT News reports.

XENE has been the topic of several other reports. The Goldman Sachs Group dropped their target price on Xenon Pharmaceuticals from $60.00 to $52.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. StockNews.com cut shares of Xenon Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday, May 2nd. HC Wainwright reaffirmed a “buy” rating and set a $53.00 price target on shares of Xenon Pharmaceuticals in a report on Monday, February 24th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Xenon Pharmaceuticals in a report on Tuesday, February 11th. They issued a “buy” rating and a $67.00 price objective on the stock. Finally, Royal Bank of Canada reissued an “outperform” rating on shares of Xenon Pharmaceuticals in a research report on Friday, February 28th. One research analyst has rated the stock with a sell rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $56.78.

Xenon Pharmaceuticals Trading Down 6.3 %

Xenon Pharmaceuticals stock opened at $35.18 on Monday. The stock has a 50-day moving average price of $34.65 and a 200 day moving average price of $38.46. Xenon Pharmaceuticals has a 52 week low of $26.74 and a 52 week high of $46.00. The stock has a market cap of $2.69 billion, a PE ratio of -12.48 and a beta of 1.21.

Xenon Pharmaceuticals (NASDAQ:XENE) last posted its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($0.84) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.89) by $0.05. On average, equities analysts predict that Xenon Pharmaceuticals will post -3.1 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in XENE. Prudential Financial Inc. increased its position in shares of Xenon Pharmaceuticals by 177.7% during the fourth quarter. Prudential Financial Inc. now owns 39,000 shares of the biopharmaceutical company’s stock valued at $1,529,000 after purchasing an additional 24,956 shares during the period. JPMorgan Chase & Co. boosted its stake in Xenon Pharmaceuticals by 1,263.2% during the third quarter. JPMorgan Chase & Co. now owns 976,783 shares of the biopharmaceutical company’s stock worth $38,456,000 after buying an additional 905,129 shares in the last quarter. Barclays PLC increased its holdings in Xenon Pharmaceuticals by 1,275.5% in the 3rd quarter. Barclays PLC now owns 14,993 shares of the biopharmaceutical company’s stock valued at $590,000 after buying an additional 13,903 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of Xenon Pharmaceuticals by 12.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 238,522 shares of the biopharmaceutical company’s stock valued at $9,350,000 after buying an additional 26,235 shares in the last quarter. Finally, Avior Wealth Management LLC bought a new position in shares of Xenon Pharmaceuticals during the 4th quarter worth about $101,000. 95.45% of the stock is owned by 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.