Robert W. Baird Lowers Xenon Pharmaceuticals (NASDAQ:XENE) Price Target to $90.00

Xenon Pharmaceuticals (NASDAQ:XENE) had its target price dropped by research analysts at Robert W. Baird from $97.00 to $90.00 in a research report issued on Friday, Benzinga reports. The firm currently has an “outperform” rating on the biopharmaceutical company’s stock. Robert W. Baird’s price target indicates a potential upside of 56.93% from the stock’s current price.

Other analysts have also recently issued research reports about the stock. Royal Bank Of Canada decreased their price target on shares of Xenon Pharmaceuticals from $82.00 to $81.00 and set an “outperform” rating for the company in a research note on Friday, August 7th. HC Wainwright restated a “buy” rating and issued a $74.00 price objective on shares of Xenon Pharmaceuticals in a research note on Monday, August 10th. JPMorgan Chase & Co. upped their target price on shares of Xenon Pharmaceuticals from $80.00 to $82.00 and gave the company an “overweight” rating in a report on Wednesday, May 27th. Wall Street Zen upgraded shares of Xenon Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 1st. Finally, Deutsche Bank Aktiengesellschaft lowered Xenon Pharmaceuticals from a “buy” rating to a “hold” rating and lowered their price target for the stock from $90.00 to $46.00 in a report on Friday. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $72.53.

Xenon Pharmaceuticals Trading Up 1.0%

XENE stock opened at $57.35 on Friday. The company has a market capitalization of $5.54 billion, a P/E ratio of -12.10 and a beta of 0.61. Xenon Pharmaceuticals has a twelve month low of $35.97 and a twelve month high of $72.66. The business has a 50 day simple moving average of $62.70 and a 200-day simple moving average of $58.07.

Xenon Pharmaceuticals (NASDAQ:XENE) last announced its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($1.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.16) by $0.05. During the same quarter in the previous year, the business earned ($1.07) EPS. Research analysts predict that Xenon Pharmaceuticals will post -4.73 EPS for the current fiscal year.

Insider Buying and Selling at Xenon Pharmaceuticals

In other Xenon Pharmaceuticals news, insider Christopher Kenney sold 7,068 shares of the business’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $60.25, for a total value of $425,847.00. Following the transaction, the insider directly owned 2 shares of the company’s stock, valued at approximately $120.50. The trade was a 99.97% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Steven Gannon sold 10,000 shares of the firm’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $64.06, for a total transaction of $640,600.00. Following the completion of the sale, the director owned 1,870 shares of the company’s stock, valued at $119,792.20. This trade represents a 84.25% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.91% of the stock is owned by company insiders.

Institutional Trading of Xenon Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in XENE. Global Retirement Partners LLC purchased a new position in Xenon Pharmaceuticals during the second quarter worth about $53,000. Quantbot Technologies LP purchased a new stake in Xenon Pharmaceuticals in the 2nd quarter valued at approximately $57,000. Axiom Investment Management LLC acquired a new position in Xenon Pharmaceuticals during the 1st quarter worth approximately $58,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Xenon Pharmaceuticals during the 2nd quarter worth approximately $65,000. Finally, Rockefeller Capital Management L.P. raised its stake in shares of Xenon Pharmaceuticals by 450.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,100 shares of the biopharmaceutical company’s stock worth $49,000 after buying an additional 900 shares in the last quarter. Hedge funds and other institutional investors own 95.45% of the company’s stock.

About Xenon Pharmaceuticals

Xenon Pharmaceuticals Inc (NASDAQ:XENE) is a clinical-stage biopharmaceutical company focused on developing medicines for neurological and psychiatric disorders. The company uses its expertise in ion channels, which regulate the electrical activity of nerve cells, to discover and advance potential treatments for conditions with significant unmet medical needs.

Xenon’s leading investigational product is azetukalner (XEN1101), an oral, small-molecule potassium-channel opener being studied in epilepsy, including focal-onset seizures, and major depressive disorder.