Xenon Pharmaceuticals (NASDAQ:XENE) Given New $55.00 Price Target at Needham & Company LLC

Xenon Pharmaceuticals (NASDAQ:XENE) had its target price reduced by Needham & Company LLC from $60.00 to $55.00 in a research report released on Tuesday morning,Benzinga reports. They currently have a buy rating on the biopharmaceutical company’s stock.

A number of other research analysts also recently issued reports on XENE. Chardan Capital assumed coverage on Xenon Pharmaceuticals in a report on Wednesday, May 7th. They set a “buy” rating and a $55.00 price target on the stock. HC Wainwright restated a “buy” rating and set a $53.00 price target on shares of Xenon Pharmaceuticals in a report on Monday, February 24th. The Goldman Sachs Group reduced their price target on Xenon Pharmaceuticals from $60.00 to $52.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. Deutsche Bank Aktiengesellschaft assumed coverage on Xenon Pharmaceuticals in a report on Tuesday, February 11th. They set a “buy” rating and a $67.00 price target on the stock. Finally, StockNews.com downgraded Xenon Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday, May 2nd. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Xenon Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $54.80.

Xenon Pharmaceuticals Trading Down 17.4%

XENE opened at $29.60 on Tuesday. The company has a market cap of $2.27 billion, a P/E ratio of -10.50 and a beta of 1.21. The business’s 50-day moving average price is $34.41 and its 200-day moving average price is $38.18. Xenon Pharmaceuticals has a 12 month low of $26.74 and a 12 month high of $46.00.

Xenon Pharmaceuticals (NASDAQ:XENE) last announced its quarterly earnings results on Monday, May 12th. The biopharmaceutical company reported ($0.83) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.90) by $0.07. The business had revenue of $7.50 million for the quarter, compared to analysts’ expectations of $1.64 million. During the same quarter in the prior year, the firm earned ($0.62) EPS. Equities research analysts forecast that Xenon Pharmaceuticals will post -3.1 earnings per share for the current fiscal year.

Institutional Trading of Xenon Pharmaceuticals

A number of hedge funds have recently made changes to their positions in XENE. Barclays PLC boosted its position in shares of Xenon Pharmaceuticals by 1,275.5% in the 3rd quarter. Barclays PLC now owns 14,993 shares of the biopharmaceutical company’s stock worth $590,000 after purchasing an additional 13,903 shares in the last quarter. Assenagon Asset Management S.A. boosted its position 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 worth $9,350,000 after purchasing an additional 26,235 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of Xenon Pharmaceuticals by 72.3% in the 4th quarter. SG Americas Securities LLC now owns 13,293 shares of the biopharmaceutical company’s stock worth $521,000 after purchasing an additional 5,577 shares in the last quarter. Avior Wealth Management LLC bought a new stake in shares of Xenon Pharmaceuticals in the 4th quarter worth approximately $101,000. Finally, Blue Trust Inc. boosted its position in shares of Xenon Pharmaceuticals by 140.3% in the 4th quarter. Blue Trust Inc. now owns 2,422 shares of the biopharmaceutical company’s stock worth $95,000 after purchasing an additional 1,414 shares in the last quarter. 95.45% of the stock is owned by institutional investors.

Xenon Pharmaceuticals Company Profile

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.