Xenon Pharmaceuticals’ (XENE) “Outperform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of Xenon Pharmaceuticals (NASDAQ:XENEFree Report) in a research note issued to investors on Tuesday morning, Benzinga reports. The firm currently has a $55.00 price target on the biopharmaceutical company’s stock.

XENE has been the topic of several other research reports. Citigroup decreased their price target on Xenon Pharmaceuticals from $62.00 to $60.00 and set a buy rating on the stock in a report on Friday, May 10th. Cantor Fitzgerald reiterated an overweight rating and issued a $65.00 price target on shares of Xenon Pharmaceuticals in a report on Wednesday, April 10th. Wedbush decreased their price target on Xenon Pharmaceuticals from $51.00 to $50.00 and set an outperform rating on the stock in a report on Friday, May 10th. Finally, Needham & Company LLC reiterated a buy rating and issued a $62.00 price target on shares of Xenon Pharmaceuticals in a report on Friday, May 10th. One research analyst has rated the stock with a sell rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Xenon Pharmaceuticals presently has an average rating of Moderate Buy and an average target price of $59.11.

Check Out Our Latest Stock Analysis on Xenon Pharmaceuticals

Xenon Pharmaceuticals Stock Performance

Shares of XENE stock opened at $37.09 on Tuesday. The stock’s fifty day moving average is $39.75 and its 200-day moving average is $42.98. The stock has a market capitalization of $2.80 billion, a PE ratio of -13.69 and a beta of 1.22. Xenon Pharmaceuticals has a 52 week low of $27.99 and a 52 week high of $50.99.

Xenon Pharmaceuticals (NASDAQ:XENEGet Free Report) last announced its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.62) EPS for the quarter, topping the consensus estimate of ($0.69) by $0.07. The business had revenue of $1.00 million for the quarter. The business’s revenue was up .0% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.63) EPS. As a group, analysts forecast that Xenon Pharmaceuticals will post -2.98 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Xenon Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC raised its position in shares of Xenon Pharmaceuticals by 3.7% during the third quarter. Barclays PLC now owns 9,521 shares of the biopharmaceutical company’s stock worth $324,000 after purchasing an additional 342 shares during the period. Parallel Advisors LLC raised its position in shares of Xenon Pharmaceuticals by 51.2% during the fourth quarter. Parallel Advisors LLC now owns 1,125 shares of the biopharmaceutical company’s stock worth $52,000 after purchasing an additional 381 shares during the period. California State Teachers Retirement System raised its position in shares of Xenon Pharmaceuticals by 0.9% during the first quarter. California State Teachers Retirement System now owns 56,477 shares of the biopharmaceutical company’s stock worth $2,431,000 after purchasing an additional 490 shares during the period. ProShare Advisors LLC raised its position in shares of Xenon Pharmaceuticals by 12.0% during the first quarter. ProShare Advisors LLC now owns 5,286 shares of the biopharmaceutical company’s stock worth $228,000 after purchasing an additional 565 shares during the period. Finally, Alps Advisors Inc. raised its position in shares of Xenon Pharmaceuticals by 1.3% during the third quarter. Alps Advisors Inc. now owns 47,349 shares of the biopharmaceutical company’s stock worth $1,617,000 after purchasing an additional 626 shares during the period. Institutional investors and hedge funds own 95.45% of the company’s stock.

Xenon Pharmaceuticals Company Profile

(Get Free Report)

Xenon Pharmaceuticals Inc, a clinical-stage biopharmaceutical company, engages in developing therapeutics to treat patients with neurological disorders in Canada. Its clinical development pipeline includes XEN496, a Kv7 potassium channel opener that is Phase III clinical trials for the treatment of KCNQ2 developmental and epileptic encephalopathy; and XEN1101, a Kv7 potassium channel opener, which is in Phase II clinical trial for the treatment of epilepsy and other neurological disorders.

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Analyst Recommendations for Xenon Pharmaceuticals (NASDAQ:XENE)

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