Xenon Pharmaceuticals (NASDAQ:XENE) Stock Rating Upgraded by Wolfe Research

Xenon Pharmaceuticals (NASDAQ:XENE) was upgraded by research analysts at Wolfe Research to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

Other equities analysts have also issued reports about the stock. Chardan Capital raised shares of Xenon Pharmaceuticals to a “strong-buy” rating in a research report on Wednesday, November 19th. Needham & Company LLC restated a “buy” rating and set a $55.00 price target on shares of Xenon Pharmaceuticals in a research note on Tuesday, November 4th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $55.00 price target on shares of Xenon Pharmaceuticals in a report on Tuesday, November 4th. JPMorgan Chase & Co. boosted their price objective on shares of Xenon Pharmaceuticals from $60.00 to $62.00 and gave the company an “overweight” rating in a report on Friday, January 9th. Finally, Stifel Nicolaus set a $66.00 target price on Xenon Pharmaceuticals in a research report on Tuesday, February 10th. Three investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $55.17.

Xenon Pharmaceuticals Price Performance

Shares of NASDAQ:XENE opened at $44.79 on Monday. The business’s 50-day moving average is $42.45 and its 200 day moving average is $40.89. Xenon Pharmaceuticals has a 1 year low of $26.74 and a 1 year high of $46.60. The firm has a market capitalization of $3.46 billion, a P/E ratio of -11.51 and a beta of 0.96.

Insider Buying and Selling

In other news, CEO Ian Mortimer sold 40,000 shares of the company’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $44.43, for a total value of $1,777,200.00. Following the sale, the chief executive officer directly owned 6,000 shares of the company’s stock, valued at $266,580. This represents a 86.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders have sold 65,302 shares of company stock worth $2,924,128. Insiders own 4.07% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in XENE. Marshall Wace LLP lifted its holdings in shares of Xenon Pharmaceuticals by 34.6% in the 2nd quarter. Marshall Wace LLP now owns 1,020,254 shares of the biopharmaceutical company’s stock valued at $31,934,000 after buying an additional 262,109 shares during the period. American Century Companies Inc. purchased a new position in Xenon Pharmaceuticals during the second quarter valued at approximately $21,280,000. Saturn V Capital Management LP raised its position in Xenon Pharmaceuticals by 13.2% during the second quarter. Saturn V Capital Management LP now owns 468,364 shares of the biopharmaceutical company’s stock valued at $14,660,000 after acquiring an additional 54,653 shares in the last quarter. New York State Common Retirement Fund lifted its holdings in Xenon Pharmaceuticals by 16.9% in the second quarter. New York State Common Retirement Fund now owns 166,472 shares of the biopharmaceutical company’s stock valued at $5,211,000 after acquiring an additional 24,100 shares during the period. Finally, Rhumbline Advisers boosted its position in Xenon Pharmaceuticals by 378,175.9% in the 2nd quarter. Rhumbline Advisers now owns 109,700 shares of the biopharmaceutical company’s stock worth $3,434,000 after purchasing an additional 109,671 shares in the last quarter. 95.45% of the stock is currently owned by institutional investors and hedge funds.

Xenon Pharmaceuticals Company Profile

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.