Cantor Fitzgerald Reiterates “Overweight” Rating for Xenon Pharmaceuticals (NASDAQ:XENE)

Xenon Pharmaceuticals (NASDAQ:XENE)‘s stock had its “overweight” rating reaffirmed by stock analysts at Cantor Fitzgerald in a research note issued to investors on Friday, Benzinga reports. They currently have a $65.00 price target on the biopharmaceutical company’s stock. Cantor Fitzgerald’s target price indicates a potential upside of 58.34% from the stock’s current price.

A number of other research firms have also recently commented on XENE. Wedbush lowered their price target on Xenon Pharmaceuticals from $50.00 to $49.00 and set an “outperform” rating on the stock in a report on Friday. Royal Bank of Canada reissued an “outperform” rating and issued a $55.00 target price on shares of Xenon Pharmaceuticals in a report on Tuesday, June 18th. Needham & Company LLC reiterated a “buy” rating and issued a $62.00 price target on shares of Xenon Pharmaceuticals in a research note on Friday, May 10th. Finally, Citigroup cut their price objective on Xenon Pharmaceuticals from $62.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, May 10th. One analyst has rated the stock with a sell rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $59.00.

Xenon Pharmaceuticals Price Performance

Shares of Xenon Pharmaceuticals stock traded up $0.04 during trading on Friday, hitting $41.05. 89,500 shares of the company’s stock traded hands, compared to its average volume of 402,768. Xenon Pharmaceuticals has a 1 year low of $27.99 and a 1 year high of $50.99. The business has a 50-day simple moving average of $39.68 and a 200-day simple moving average of $42.33. The stock has a market capitalization of $3.10 billion, a P/E ratio of -15.15 and a beta of 1.26.

Xenon Pharmaceuticals (NASDAQ:XENE) last released its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.75) earnings per share for the quarter, missing the consensus estimate of ($0.72) by ($0.03). During the same quarter in the previous year, the firm earned ($0.72) EPS. On average, equities analysts predict that Xenon Pharmaceuticals will post -2.98 earnings per share for the current fiscal year.

Institutional Trading of Xenon Pharmaceuticals

Large investors have recently made changes to their positions in the stock. Franklin Resources Inc. lifted its holdings in Xenon Pharmaceuticals by 70.2% during the 4th quarter. Franklin Resources Inc. now owns 293,825 shares of the biopharmaceutical company’s stock valued at $13,534,000 after buying an additional 121,213 shares in the last quarter. GSA Capital Partners LLP bought a new position in Xenon Pharmaceuticals in the first quarter worth approximately $930,000. Perceptive Advisors LLC raised its position in Xenon Pharmaceuticals by 78.3% during the 4th quarter. Perceptive Advisors LLC now owns 1,100,748 shares of the biopharmaceutical company’s stock valued at $50,700,000 after purchasing an additional 483,248 shares in the last quarter. Affinity Asset Advisors LLC lifted its holdings in shares of Xenon Pharmaceuticals by 53.1% in the 4th quarter. Affinity Asset Advisors LLC now owns 460,000 shares of the biopharmaceutical company’s stock worth $21,188,000 after buying an additional 159,562 shares during the period. Finally, Harbor Capital Advisors Inc. increased its stake in shares of Xenon Pharmaceuticals by 647.8% during the second quarter. Harbor Capital Advisors Inc. now owns 24,116 shares of the biopharmaceutical company’s stock valued at $940,000 after buying an additional 20,891 shares during the period. 95.45% of the stock is owned by hedge funds and other institutional investors.

Xenon Pharmaceuticals Company Profile

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.