Xenon Pharmaceuticals (NASDAQ:XENE) Price Target Raised to $62.00

Xenon Pharmaceuticals (NASDAQ:XENE) had its price target boosted by JPMorgan Chase & Co. from $60.00 to $62.00 in a research report released on Friday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the biopharmaceutical company’s stock.

Several other equities research analysts have also issued reports on XENE. William Blair reissued an “outperform” rating on shares of Xenon Pharmaceuticals in a research note on Tuesday, October 7th. Chardan Capital raised Xenon Pharmaceuticals to a “strong-buy” rating in a report on Wednesday, November 19th. Bloom Burton raised Xenon Pharmaceuticals to a “strong-buy” rating in a report on Tuesday, October 7th. Cantor Fitzgerald restated an “overweight” rating and issued a $55.00 price objective on shares of Xenon Pharmaceuticals in a research report on Tuesday, November 4th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Xenon Pharmaceuticals in a research note on Tuesday, October 14th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $54.82.

Xenon Pharmaceuticals Trading Up 2.3%

Xenon Pharmaceuticals stock opened at $42.15 on Friday. The firm’s 50 day simple moving average is $42.60 and its 200 day simple moving average is $38.73. The firm has a market capitalization of $3.26 billion, a PE ratio of -10.84 and a beta of 0.97. Xenon Pharmaceuticals has a 1-year low of $26.74 and a 1-year high of $46.60.

Xenon Pharmaceuticals (NASDAQ:XENE) last announced its quarterly earnings results on Monday, November 3rd. The biopharmaceutical company reported ($1.15) EPS for the quarter, beating the consensus estimate of ($1.16) by $0.01. The company’s revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.81) earnings per share. Research analysts forecast that Xenon Pharmaceuticals will post -3.1 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Ian Mortimer sold 40,000 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The stock was 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 owned 6,000 shares in the company, valued at $266,580. The trade was a 86.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In the last ninety days, insiders sold 65,302 shares of company stock valued at $2,924,128. Insiders own 4.07% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in XENE. Mirae Asset Global Investments Co. Ltd. raised its holdings in Xenon Pharmaceuticals by 15.7% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,964 shares of the biopharmaceutical company’s stock valued at $93,000 after buying an additional 403 shares during the last quarter. Marshall Wace LLP grew its holdings in Xenon Pharmaceuticals by 34.6% in the 2nd quarter. Marshall Wace LLP now owns 1,020,254 shares of the biopharmaceutical company’s stock worth $31,934,000 after acquiring an additional 262,109 shares during the last quarter. New York State Common Retirement Fund increased its position in shares of Xenon Pharmaceuticals by 16.9% in the second quarter. New York State Common Retirement Fund now owns 166,472 shares of the biopharmaceutical company’s stock valued at $5,211,000 after acquiring an additional 24,100 shares during the period. Bank of New York Mellon Corp increased its position in shares of Xenon Pharmaceuticals by 73.6% in the second quarter. Bank of New York Mellon Corp now owns 436,020 shares of the biopharmaceutical company’s stock valued at $13,647,000 after acquiring an additional 184,873 shares during the period. Finally, American Century Companies Inc. bought a new position in shares of Xenon Pharmaceuticals during the second quarter valued at about $21,280,000. 95.45% of the stock is owned by hedge funds and other 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.