Xenon Pharmaceuticals (NASDAQ:XENE) Price Target Raised to $64.00 at Wedbush

Xenon Pharmaceuticals (NASDAQ:XENE) had its target price raised by Wedbush from $47.00 to $64.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the biopharmaceutical company’s stock. Wedbush’s target price points to a potential upside of 1.98% from the stock’s current price.

Several other analysts have also recently commented on XENE. Robert W. Baird raised their price objective on shares of Xenon Pharmaceuticals from $63.00 to $97.00 and gave the company an “outperform” rating in a research note on Monday. Stifel Nicolaus set a $66.00 target price on shares of Xenon Pharmaceuticals in a research report on Tuesday, February 10th. Wolfe Research began coverage on shares of Xenon Pharmaceuticals in a report on Monday, February 23rd. They issued an “outperform” rating and a $60.00 target price for the company. Bank of America reiterated a “buy” rating on shares of Xenon Pharmaceuticals in a research report on Monday. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Xenon Pharmaceuticals from $56.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, Xenon Pharmaceuticals presently has an average rating of “Buy” and a consensus target price of $70.82.

Xenon Pharmaceuticals Price Performance

Shares of XENE stock opened at $62.76 on Tuesday. The business’s fifty day moving average price is $42.62 and its 200 day moving average price is $41.41. Xenon Pharmaceuticals has a 1-year low of $26.74 and a 1-year high of $62.91. The firm has a market capitalization of $5.22 billion, a PE ratio of -14.39 and a beta of 0.91.

Xenon Pharmaceuticals (NASDAQ:XENE) last released its earnings results on Thursday, February 26th. The biopharmaceutical company reported ($1.31) EPS for the quarter, missing analysts’ consensus estimates of ($1.20) by ($0.11). During the same quarter in the prior year, the business earned ($0.84) earnings per share. Equities research analysts expect that Xenon Pharmaceuticals will post -3.1 earnings per share for the current fiscal year.

Insider Buying and Selling at Xenon Pharmaceuticals

In related news, CEO Ian Mortimer sold 40,000 shares of Xenon Pharmaceuticals stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $44.43, for a total transaction of $1,777,200.00. Following the completion of the transaction, the chief executive officer directly owned 6,000 shares in the company, valued at $266,580. The trade was a 86.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.07% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Xenon Pharmaceuticals

A number of institutional investors have recently made changes to their positions in the stock. Cinctive Capital Management LP lifted its position in shares of Xenon Pharmaceuticals by 1.1% in the fourth quarter. Cinctive Capital Management LP now owns 23,317 shares of the biopharmaceutical company’s stock valued at $1,045,000 after acquiring an additional 263 shares in the last quarter. Arizona State Retirement System increased its position in Xenon Pharmaceuticals by 1.8% during the 3rd quarter. Arizona State Retirement System now owns 19,290 shares of the biopharmaceutical company’s stock worth $774,000 after purchasing an additional 334 shares in the last quarter. State of Wyoming increased its position in Xenon Pharmaceuticals by 30.4% during the 4th quarter. State of Wyoming now owns 1,501 shares of the biopharmaceutical company’s stock worth $67,000 after purchasing an additional 350 shares in the last quarter. Quarry LP raised its stake in Xenon Pharmaceuticals by 25.0% in the 3rd quarter. Quarry LP now owns 2,500 shares of the biopharmaceutical company’s stock valued at $100,000 after purchasing an additional 500 shares during the last quarter. Finally, Altfest L J & Co. Inc. lifted its holdings in Xenon Pharmaceuticals by 6.5% in the 4th quarter. Altfest L J & Co. Inc. now owns 8,232 shares of the biopharmaceutical company’s stock valued at $369,000 after purchasing an additional 501 shares in the last quarter. 95.45% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting Xenon Pharmaceuticals

Here are the key news stories impacting Xenon Pharmaceuticals this week:

• Positive Sentiment: Company-reported positive topline Phase 3 X-TOLE2 results for azetukalner showed a statistically significant reduction in focal-onset seizures, underpinning management’s plan to pursue regulatory filings and expanding commercial opportunity for a differentiated KV7 potassium-channel opener. GlobeNewswire: Positive Topline Data
• Positive Sentiment: Major media and wire services (Reuters, The Globe and Mail and others) highlighted the late‑stage success, increasing visibility and driving buying interest from momentum and fundamental investors. Reuters: Late‑stage trial met main goal
• Neutral Sentiment: Company hosted/discussed topline results in a call/transcript that provides additional trial detail, endpoints and next steps (useful for modelling approval timing, label and addressable market). Seeking Alpha: Transcript of results discussion
• Neutral Sentiment: Trading was temporarily halted prior to the announcement for “news pending,” a routine regulatory/market control that concentrated order flow at the release time and amplified the initial move. (No separate link available.)
• Negative Sentiment: Xenon concurrently announced a proposed underwritten public offering of $500 million (with a 30‑day option for an additional $75 million) of common shares — a potentially dilutive financing that could cap near‑term upside despite the positive clinical news. GlobeNewswire: Proposed public offering
• Negative Sentiment: Some analysts and commentaries caution the post‑data valuation may be rich and note market/commercial risks (crowded antiseizure market, adverse-event profile and execution risk), which could pressure the stock if expectations are not met. Seeking Alpha: Valuation caution

About Xenon Pharmaceuticals

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.