Needham & Company LLC Issues Positive Forecast for Xenon Pharmaceuticals (NASDAQ:XENE) Stock Price

Xenon Pharmaceuticals (NASDAQ:XENE) had its target price boosted by investment analysts at Needham & Company LLC from $55.00 to $58.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. Needham & Company LLC’s price target indicates a potential upside of 35.58% from the company’s previous close.

Other equities analysts also recently issued research reports about the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Xenon Pharmaceuticals in a report on Friday, January 9th. Wells Fargo & Company upped their price objective on shares of Xenon Pharmaceuticals from $48.00 to $49.00 and gave the company an “overweight” rating in a research note on Friday. Stifel Nicolaus set a $66.00 target price on shares of Xenon Pharmaceuticals in a research report on Tuesday, February 10th. Royal Bank Of Canada lifted their target price on shares of Xenon Pharmaceuticals from $55.00 to $58.00 and gave the company an “outperform” rating in a research note on Tuesday, November 4th. Finally, Wolfe Research began coverage on shares of Xenon Pharmaceuticals in a research note on Monday. They issued an “outperform” rating and a $60.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Xenon Pharmaceuticals presently has an average rating of “Buy” and an average price target of $55.50.

Xenon Pharmaceuticals Stock Down 4.8%

Shares of XENE traded down $2.14 during mid-day trading on Friday, reaching $42.78. The company’s stock had a trading volume of 996,925 shares, compared to its average volume of 918,322. The company has a market cap of $3.31 billion, a price-to-earnings ratio of -10.94 and a beta of 0.96. The business has a fifty day moving average of $42.51 and a 200 day moving average of $40.94. Xenon Pharmaceuticals has a 1 year low of $26.74 and a 1 year high of $46.99.

Xenon Pharmaceuticals (NASDAQ:XENE) last issued its quarterly earnings results on Thursday, February 26th. The biopharmaceutical company reported ($1.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.20) by ($0.11). During the same quarter last year, the firm posted ($0.84) earnings per share. On average, analysts predict that Xenon Pharmaceuticals will post -3.1 earnings per share for the current year.

Insiders Place Their Bets

In other Xenon Pharmaceuticals news, CEO Ian Mortimer sold 40,000 shares of the company’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 transaction of $1,777,200.00. Following the completion of the sale, the chief executive officer owned 6,000 shares of the company’s stock, valued at $266,580. This represents a 86.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders sold 65,205 shares of company stock valued at $2,919,762. 4.07% of the stock is currently owned by insiders.

Institutional Trading of Xenon Pharmaceuticals

Large investors have recently modified their holdings of the company. Elevation Point Wealth Partners LLC bought a new position in Xenon Pharmaceuticals in the 2nd quarter worth $32,000. Danske Bank A S bought a new position in shares of Xenon Pharmaceuticals in the third quarter worth about $32,000. Blue Trust Inc. increased its stake in shares of Xenon Pharmaceuticals by 2,560.7% in the fourth quarter. Blue Trust Inc. now owns 745 shares of the biopharmaceutical company’s stock worth $33,000 after purchasing an additional 717 shares during the period. Kestra Advisory Services LLC acquired a new position in shares of Xenon Pharmaceuticals during the 4th quarter worth about $33,000. Finally, Aster Capital Management DIFC Ltd bought a new stake in Xenon Pharmaceuticals during the 3rd quarter valued at approximately $39,000. 95.45% of the stock is 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.