Xenon Pharmaceuticals’ (XENE) Buy Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of Xenon Pharmaceuticals (NASDAQ:XENE) in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a $53.00 price target on the biopharmaceutical company’s stock. HC Wainwright also issued estimates for Xenon Pharmaceuticals’ Q1 2025 earnings at ($0.88) EPS, Q2 2025 earnings at ($0.89) EPS, Q3 2025 earnings at ($0.90) EPS and Q4 2025 earnings at ($0.91) EPS.

Several other research firms also recently commented on XENE. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $65.00 price objective on shares of Xenon Pharmaceuticals in a research note on Friday, August 9th. Wedbush decreased their price target on Xenon Pharmaceuticals from $50.00 to $49.00 and set an “outperform” rating for the company in a report on Friday, August 9th. Needham & Company LLC reissued a “buy” rating and issued a $60.00 price objective on shares of Xenon Pharmaceuticals in a research note on Wednesday. William Blair upgraded shares of Xenon Pharmaceuticals to a “strong-buy” rating in a research report on Friday, August 30th. Finally, Raymond James reaffirmed an “outperform” rating and issued a $50.00 target price on shares of Xenon Pharmaceuticals in a report on Thursday, October 10th. Eleven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $57.45.

Xenon Pharmaceuticals Stock Performance

XENE stock opened at $39.83 on Wednesday. Xenon Pharmaceuticals has a fifty-two week low of $28.10 and a fifty-two week high of $50.99. The company’s 50 day moving average price is $41.18 and its 200 day moving average price is $40.36. The firm has a market capitalization of $3.04 billion, a price-to-earnings ratio of -14.21 and a beta of 1.25.

Xenon Pharmaceuticals (NASDAQ:XENE) last announced its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.81) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.82) by $0.01. During the same quarter in the previous year, the firm earned ($0.73) earnings per share. Equities analysts forecast that Xenon Pharmaceuticals will post -3.1 EPS for the current fiscal year.

Hedge Funds Weigh In On Xenon Pharmaceuticals

Institutional investors have recently bought and sold shares of the stock. FMR LLC boosted its stake in Xenon Pharmaceuticals by 2.2% in the 3rd quarter. FMR LLC now owns 6,917,684 shares of the biopharmaceutical company’s stock worth $272,349,000 after purchasing an additional 149,511 shares during the period. Driehaus Capital Management LLC boosted its position in shares of Xenon Pharmaceuticals by 2.3% in the second quarter. Driehaus Capital Management LLC now owns 4,419,472 shares of the biopharmaceutical company’s stock worth $172,315,000 after buying an additional 97,732 shares during the period. Wellington Management Group LLP grew its holdings in shares of Xenon Pharmaceuticals by 0.4% during the third quarter. Wellington Management Group LLP now owns 3,843,447 shares of the biopharmaceutical company’s stock valued at $151,317,000 after buying an additional 15,226 shares in the last quarter. Braidwell LP raised its position in Xenon Pharmaceuticals by 5.7% during the third quarter. Braidwell LP now owns 2,707,255 shares of the biopharmaceutical company’s stock valued at $106,585,000 after buying an additional 146,682 shares during the period. Finally, Janus Henderson Group PLC lifted its stake in Xenon Pharmaceuticals by 144.2% in the 3rd quarter. Janus Henderson Group PLC now owns 2,552,392 shares of the biopharmaceutical company’s stock worth $100,506,000 after acquiring an additional 1,507,135 shares in the last quarter. Hedge funds and other institutional investors own 95.45% of the company’s stock.

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.