Xenon Pharmaceuticals (NASDAQ:XENE) Price Target Raised to $82.00

Xenon Pharmaceuticals (NASDAQ:XENE) had its price target raised by equities researchers at JPMorgan Chase & Co. from $80.00 to $82.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the biopharmaceutical company’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 52.04% from the stock’s current price.

XENE has been the subject of a number of other reports. Royal Bank Of Canada increased their target price on shares of Xenon Pharmaceuticals from $80.00 to $82.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. Stifel Nicolaus set a $66.00 price objective on Xenon Pharmaceuticals in a research note on Tuesday, February 10th. HC Wainwright increased their price objective on Xenon Pharmaceuticals from $53.00 to $74.00 and gave the company a “buy” rating in a report on Tuesday, March 10th. Robert W. Baird increased their price objective on Xenon Pharmaceuticals from $63.00 to $97.00 and gave the company an “outperform” rating in a report on Monday, March 9th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Xenon Pharmaceuticals in a research report on Wednesday, April 8th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $77.20.

Xenon Pharmaceuticals Stock Down 0.1%

XENE traded down $0.05 during trading on Wednesday, hitting $53.93. 165,224 shares of the company traded hands, compared to its average volume of 1,231,578. The firm has a market cap of $5.21 billion, a P/E ratio of -11.46 and a beta of 0.65. The stock’s fifty day moving average is $56.05 and its 200 day moving average is $47.82. Xenon Pharmaceuticals has a one year low of $28.19 and a one year high of $63.95.

Xenon Pharmaceuticals (NASDAQ:XENE) last posted its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($1.17) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($1.17). During the same quarter in the previous year, the company posted ($0.83) EPS. On average, equities research analysts forecast that Xenon Pharmaceuticals will post -4.88 EPS for the current fiscal year.

Insider Transactions at Xenon Pharmaceuticals

In other news, CEO Ian Mortimer sold 270,000 shares of Xenon Pharmaceuticals stock in a transaction on Monday, March 9th. The stock was sold at an average price of $60.33, for a total value of $16,289,100.00. Following the completion of the transaction, the chief executive officer directly owned 6,000 shares in the company, valued at approximately $361,980. The trade was a 97.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Andrea Difabio sold 2,607 shares of the business’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $60.11, for a total value of $156,706.77. Following the sale, the insider owned 4,893 shares in the company, valued at approximately $294,118.23. The trade was a 34.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 296,707 shares of company stock valued at $17,845,365 over the last three months. Company insiders own 4.07% of the company’s stock.

Institutional Investors Weigh In On Xenon Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. increased its holdings in Xenon Pharmaceuticals by 11.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,399,033 shares of the biopharmaceutical company’s stock worth $56,171,000 after acquiring an additional 142,452 shares during the period. Neo Ivy Capital Management bought a new position in Xenon Pharmaceuticals in the 3rd quarter valued at $2,001,000. Assenagon Asset Management S.A. purchased a new position in shares of Xenon Pharmaceuticals during the 4th quarter valued at $5,342,000. Peregrine Capital Management LLC purchased a new position in Xenon Pharmaceuticals during the fourth quarter worth about $7,837,000. Finally, HighVista Strategies LLC grew its position in Xenon Pharmaceuticals by 80.2% during the third quarter. HighVista Strategies LLC now owns 82,190 shares of the biopharmaceutical company’s stock worth $3,300,000 after buying an additional 36,570 shares in the last quarter. 95.45% of the stock is currently owned by institutional investors.

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.