Xenon Pharmaceuticals (NASDAQ:XENE) Rating Reiterated by Raymond James

Xenon Pharmaceuticals (NASDAQ:XENEGet Free Report)‘s stock had its “outperform” rating reaffirmed by stock analysts at Raymond James in a research note issued to investors on Thursday, MarketBeat.com reports. They presently have a $50.00 price objective on the biopharmaceutical company’s stock. Raymond James’ price objective would suggest a potential upside of 21.33% from the stock’s current price.

A number of other research analysts have also weighed in on XENE. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $55.00 price target on shares of Xenon Pharmaceuticals in a research note on Tuesday, September 3rd. HC Wainwright started coverage on Xenon Pharmaceuticals in a research report on Tuesday, October 1st. They issued a “buy” rating and a $53.00 target price on the stock. William Blair raised Xenon Pharmaceuticals to a “strong-buy” rating in a research note on Friday, August 30th. Wedbush reduced their price objective on Xenon Pharmaceuticals from $50.00 to $49.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $65.00 target price on shares of Xenon Pharmaceuticals in a research note on Friday, August 9th. Eleven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Xenon Pharmaceuticals has a consensus rating of “Buy” and a consensus target price of $57.45.

Check Out Our Latest Stock Report on Xenon Pharmaceuticals

Xenon Pharmaceuticals Trading Up 2.0 %

Shares of XENE opened at $41.21 on Thursday. The firm has a market cap of $3.12 billion, a P/E ratio of -15.04 and a beta of 1.25. Xenon Pharmaceuticals has a 12 month low of $27.99 and a 12 month high of $50.99. The stock’s 50 day moving average is $39.87 and its two-hundred day moving average is $40.19.

Xenon Pharmaceuticals (NASDAQ:XENEGet Free Report) last released its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.05). During the same quarter in the previous year, the business earned ($0.72) EPS. Equities research analysts forecast that Xenon Pharmaceuticals will post -3.14 EPS for the current year.

Hedge Funds Weigh In On Xenon Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the company. California State Teachers Retirement System raised its position in shares of Xenon Pharmaceuticals by 0.9% during the 1st quarter. California State Teachers Retirement System now owns 56,477 shares of the biopharmaceutical company’s stock valued at $2,431,000 after buying an additional 490 shares during the period. ProShare Advisors LLC lifted its stake in shares of Xenon Pharmaceuticals by 12.0% in the 1st quarter. ProShare Advisors LLC now owns 5,286 shares of the biopharmaceutical company’s stock valued at $228,000 after purchasing an additional 565 shares during the last quarter. Arizona State Retirement System grew its holdings in shares of Xenon Pharmaceuticals by 4.0% during the 2nd quarter. Arizona State Retirement System now owns 17,949 shares of the biopharmaceutical company’s stock worth $700,000 after purchasing an additional 688 shares during the period. Envestnet Asset Management Inc. grew its holdings in shares of Xenon Pharmaceuticals by 1.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 48,946 shares of the biopharmaceutical company’s stock worth $1,908,000 after purchasing an additional 769 shares during the period. Finally, Oppenheimer Asset Management Inc. increased its position in shares of Xenon Pharmaceuticals by 21.4% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 5,374 shares of the biopharmaceutical company’s stock worth $231,000 after purchasing an additional 946 shares during the last quarter. 95.45% of the stock is currently owned by institutional investors and hedge funds.

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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