Wedbush Cuts Xenon Pharmaceuticals (NASDAQ:XENE) Price Target to $63.00

Xenon Pharmaceuticals (NASDAQ:XENE) had its price target trimmed by Wedbush from $64.00 to $63.00 in a research report sent to investors on Monday,Benzinga reports. The brokerage currently has an outperform rating on the biopharmaceutical company’s stock.

A number of other analysts have also weighed in on the stock. Needham & Company LLC upped their target price on shares of Xenon Pharmaceuticals from $58.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, March 9th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Xenon Pharmaceuticals from $56.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, March 10th. Robert W. Baird boosted their price target on shares of Xenon Pharmaceuticals from $63.00 to $97.00 and gave the company an “outperform” rating in a research report on Monday, March 9th. Jefferies Financial Group set a $100.00 price target on shares of Xenon Pharmaceuticals in a report on Monday, March 9th. Finally, JPMorgan Chase & Co. increased their price objective on Xenon Pharmaceuticals from $60.00 to $62.00 and gave the stock an “overweight” rating 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Xenon Pharmaceuticals has an average rating of “Buy” and a consensus target price of $71.88.

Xenon Pharmaceuticals Stock Performance

XENE opened at $55.07 on Monday. The firm has a market cap of $4.58 billion, a P/E ratio of -12.63 and a beta of 0.91. The firm has a 50-day moving average of $44.51 and a 200 day moving average of $42.28. Xenon Pharmaceuticals has a fifty-two week low of $26.74 and a fifty-two week high of $63.95.

Xenon Pharmaceuticals (NASDAQ:XENE) last announced its quarterly earnings data on Thursday, February 26th. The biopharmaceutical company reported ($1.31) earnings per share for the quarter, missing the consensus estimate of ($1.20) by ($0.11). During the same quarter last year, the company earned ($0.84) earnings per share. Equities research analysts predict that Xenon Pharmaceuticals will post -3.1 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Ian Mortimer sold 7,308 shares of the business’s stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $55.23, for a total value of $403,620.84. Following the completion of the sale, the chief executive officer owned 19,923 shares of the company’s stock, valued at approximately $1,100,347.29. The trade was a 26.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Andrea Difabio sold 1,342 shares of the stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $55.23, for a total transaction of $74,118.66. Following the sale, the insider owned 7,301 shares of the company’s stock, valued at approximately $403,234.23. This represents a 15.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 336,707 shares of company stock valued at $19,622,565 over the last three months. Insiders own 4.07% of the company’s stock.

Institutional Investors Weigh In On Xenon Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. boosted its position in shares of Xenon Pharmaceuticals by 450.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,100 shares of the biopharmaceutical company’s stock worth $49,000 after purchasing an additional 900 shares in the last quarter. Corient Private Wealth LLC bought a new position in Xenon Pharmaceuticals during the 4th quarter valued at approximately $1,125,000. Caitong International Asset Management Co. Ltd purchased a new position in Xenon Pharmaceuticals during the fourth quarter valued at $55,000. Mackenzie Financial Corp purchased a new position in Xenon Pharmaceuticals during the fourth quarter valued at $210,000. Finally, ADAR1 Capital Management LLC boosted its holdings in Xenon Pharmaceuticals by 7.9% in the fourth quarter. ADAR1 Capital Management LLC now owns 203,969 shares of the biopharmaceutical company’s stock worth $9,142,000 after acquiring an additional 14,871 shares in the last quarter. 95.45% of the stock is owned by hedge funds and other institutional investors.

About Xenon Pharmaceuticals

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.