Xenon Pharmaceuticals (NASDAQ:XENE) Stock Price Expected to Rise, Wedbush Analyst Says

Xenon Pharmaceuticals (NASDAQ:XENE) had its price objective raised by equities researchers at Wedbush from $47.00 to $64.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the biopharmaceutical company’s stock. Wedbush’s price target points to a potential upside of 1.98% from the stock’s current price.

Other equities analysts have also issued reports about the company. Wells Fargo & Company upped their target price on Xenon Pharmaceuticals from $48.00 to $49.00 and gave the company an “overweight” rating in a research note on Friday, February 27th. Jefferies Financial Group set a $100.00 price target on Xenon Pharmaceuticals in a report on Monday. Morgan Stanley set a $97.00 price objective on shares of Xenon Pharmaceuticals in a research note on Monday. Stifel Nicolaus set a $66.00 price objective on shares of Xenon Pharmaceuticals in a report on Tuesday, February 10th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Xenon Pharmaceuticals in a research report on Friday, January 9th. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $70.82.

Xenon Pharmaceuticals Stock Performance

XENE stock opened at $62.76 on Tuesday. The company has a 50 day moving average price of $42.62 and a two-hundred day moving average price of $41.41. The stock has a market capitalization of $5.22 billion, a P/E ratio of -14.39 and a beta of 0.91. Xenon Pharmaceuticals has a one year low of $26.74 and a one year high of $62.91.

Xenon Pharmaceuticals (NASDAQ:XENE) last issued its quarterly earnings results on Thursday, February 26th. The biopharmaceutical company reported ($1.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.20) by ($0.11). During the same period in the prior year, the firm earned ($0.84) earnings per share. Research analysts forecast that Xenon Pharmaceuticals will post -3.1 earnings per share for the current fiscal year.

Insider Transactions at Xenon Pharmaceuticals

In other Xenon Pharmaceuticals news, CEO Ian Mortimer sold 40,000 shares of the company’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $44.43, for a total transaction of $1,777,200.00. Following the completion of the sale, the chief executive officer directly owned 6,000 shares in the company, valued at $266,580. This represents a 86.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 4.07% of the company’s stock.

Hedge Funds Weigh In On Xenon Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of XENE. Cinctive Capital Management LP increased its position in Xenon Pharmaceuticals by 1.1% during the 4th quarter. Cinctive Capital Management LP now owns 23,317 shares of the biopharmaceutical company’s stock worth $1,045,000 after purchasing an additional 263 shares in the last quarter. Arizona State Retirement System increased its position in shares of Xenon Pharmaceuticals by 1.8% in the third quarter. Arizona State Retirement System now owns 19,290 shares of the biopharmaceutical company’s stock worth $774,000 after acquiring an additional 334 shares in the last quarter. State of Wyoming raised its stake in shares of Xenon Pharmaceuticals by 30.4% in the 4th quarter. State of Wyoming now owns 1,501 shares of the biopharmaceutical company’s stock valued at $67,000 after acquiring an additional 350 shares during the period. Quarry LP lifted its holdings in shares of Xenon Pharmaceuticals by 25.0% during the 3rd quarter. Quarry LP now owns 2,500 shares of the biopharmaceutical company’s stock valued at $100,000 after acquiring an additional 500 shares in the last quarter. Finally, Altfest L J & Co. Inc. boosted its position in Xenon Pharmaceuticals by 6.5% during the 4th quarter. Altfest L J & Co. Inc. now owns 8,232 shares of the biopharmaceutical company’s stock worth $369,000 after purchasing an additional 501 shares during the period. 95.45% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting Xenon Pharmaceuticals

Here are the key news stories impacting Xenon Pharmaceuticals this week:

• Positive Sentiment: Company-reported positive topline Phase 3 X-TOLE2 results for azetukalner showed a statistically significant reduction in focal-onset seizures, underpinning management’s plan to pursue regulatory filings and expanding commercial opportunity for a differentiated KV7 potassium-channel opener. GlobeNewswire: Positive Topline Data
• Positive Sentiment: Major media and wire services (Reuters, The Globe and Mail and others) highlighted the late?stage success, increasing visibility and driving buying interest from momentum and fundamental investors. Reuters: Late?stage trial met main goal
• Neutral Sentiment: Company hosted/discussed topline results in a call/transcript that provides additional trial detail, endpoints and next steps (useful for modelling approval timing, label and addressable market). Seeking Alpha: Transcript of results discussion
• Neutral Sentiment: Trading was temporarily halted prior to the announcement for “news pending,” a routine regulatory/market control that concentrated order flow at the release time and amplified the initial move. (No separate link available.)
• Negative Sentiment: Xenon concurrently announced a proposed underwritten public offering of $500 million (with a 30?day option for an additional $75 million) of common shares — a potentially dilutive financing that could cap near?term upside despite the positive clinical news. GlobeNewswire: Proposed public offering
• Negative Sentiment: Some analysts and commentaries caution the post?data valuation may be rich and note market/commercial risks (crowded antiseizure market, adverse-event profile and execution risk), which could pressure the stock if expectations are not met. Seeking Alpha: Valuation caution

Xenon Pharmaceuticals Company Profile

Xenon Pharmaceuticals Inc is a clinical?stage biopharmaceutical company dedicated to discovering and developing novel, small?molecule drugs targeting ion channels in the central and peripheral nervous system. The company’s research focus centers on neurological and pain disorders—including epilepsy, migraine, and neuropathic pain—by modulating key ion?channel proteins to restore normal neuronal function. Xenon’s scientific platform draws upon advances in ion?channel biology and structure?based drug design to identify and optimize therapeutic candidates with the potential for improved safety and efficacy profiles compared with existing treatments.

The company’s pipeline comprises multiple preclinical and clinical programs.