JPMorgan Chase & Co. Increases Xenon Pharmaceuticals (NASDAQ:XENE) Price Target to $62.00

Xenon Pharmaceuticals (NASDAQ:XENE) had its target price boosted by equities research analysts at JPMorgan Chase & Co. from $60.00 to $62.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the biopharmaceutical company’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 50.41% from the company’s previous close.

Other equities analysts also recently issued reports about the company. Bloom Burton upgraded Xenon Pharmaceuticals to a “strong-buy” rating in a research report on Tuesday, October 7th. Needham & Company LLC reiterated a “buy” rating and set a $55.00 price target on shares of Xenon Pharmaceuticals in a research report on Tuesday, November 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of Xenon Pharmaceuticals in a report on Tuesday, October 14th. Chardan Capital upgraded shares of Xenon Pharmaceuticals to a “strong-buy” rating in a research note on Wednesday, November 19th. Finally, William Blair reiterated an “outperform” rating on shares of Xenon Pharmaceuticals in a research report on Tuesday, October 7th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $54.82.

Xenon Pharmaceuticals Price Performance

Shares of NASDAQ XENE opened at $41.22 on Friday. 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 $3.19 billion, a PE ratio of -10.60 and a beta of 0.97. The business’s fifty day moving average price is $42.60 and its two-hundred day moving average price is $38.56.

Xenon Pharmaceuticals (NASDAQ:XENE) last released its quarterly earnings data on Monday, November 3rd. The biopharmaceutical company reported ($1.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.16) by $0.01. The business’s revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.81) 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

In other Xenon Pharmaceuticals news, CEO Ian Mortimer sold 40,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 6,000 shares of the company’s stock, valued at approximately $266,580. This represents a 86.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 65,302 shares of company stock valued at $2,924,128 in the last quarter. 4.07% of the stock is currently owned by insiders.

Institutional Trading of Xenon Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. boosted its holdings in Xenon Pharmaceuticals by 11.3% during the third quarter. JPMorgan Chase & Co. now owns 1,399,033 shares of the biopharmaceutical company’s stock worth $56,171,000 after buying an additional 142,452 shares in the last quarter. CIBC Bancorp USA Inc. acquired a new stake in shares of Xenon Pharmaceuticals during the 3rd quarter valued at $325,000. Danske Bank A S bought a new stake in shares of Xenon Pharmaceuticals during the 3rd quarter worth $32,000. Verition Fund Management LLC acquired a new position in shares of Xenon Pharmaceuticals in the 3rd quarter worth $2,293,000. Finally, Quarry LP raised its position in shares of Xenon Pharmaceuticals by 25.0% during the third quarter. Quarry LP now owns 2,500 shares of the biopharmaceutical company’s stock worth $100,000 after purchasing an additional 500 shares during the period. 95.45% of the stock is currently owned by institutional investors.

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.