Xenon Pharmaceuticals (NASDAQ:XENE) Raised to “Strong-Buy” at Wolfe Research

Xenon Pharmaceuticals (NASDAQ:XENE) was upgraded by investment analysts at Wolfe Research to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

Other equities research analysts have also issued research reports about the company. Stifel Nicolaus set a $66.00 target price on Xenon Pharmaceuticals in a research note on Tuesday, February 10th. Royal Bank Of Canada lifted their price objective 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. JPMorgan Chase & Co. upped their target price on shares of Xenon Pharmaceuticals from $60.00 to $62.00 and gave the company an “overweight” rating in a research note on Friday, January 9th. Needham & Company LLC reaffirmed a “buy” rating and set a $55.00 price target on shares of Xenon Pharmaceuticals in a research note on Tuesday, November 4th. Finally, Wells Fargo & Company boosted their price target on Xenon Pharmaceuticals from $44.00 to $48.00 and gave the stock an “overweight” rating in a research note on Thursday, December 11th. Three research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Xenon Pharmaceuticals presently has an average rating of “Buy” and a consensus target price of $55.17.

Xenon Pharmaceuticals Trading Up 4.8%

NASDAQ:XENE opened at $44.79 on Monday. The firm’s fifty day simple moving average is $42.45 and its 200 day simple moving average is $40.89. Xenon Pharmaceuticals has a twelve month low of $26.74 and a twelve month high of $46.60. The firm has a market capitalization of $3.46 billion, a price-to-earnings ratio of -11.51 and a beta of 0.96.

Insider Activity at Xenon Pharmaceuticals

In other 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 directly owned 6,000 shares in the company, valued at approximately $266,580. The trade was 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. In the last ninety days, insiders sold 65,302 shares of company stock valued at $2,924,128. 4.07% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Elevation Point Wealth Partners LLC bought a new stake in shares of Xenon Pharmaceuticals during the 2nd quarter valued at about $32,000. Danske Bank A S bought a new position in shares of Xenon Pharmaceuticals during the third quarter valued at approximately $32,000. Blue Trust Inc. raised its position in shares of Xenon Pharmaceuticals by 2,560.7% during the 4th 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 bought a new stake in shares of Xenon Pharmaceuticals in the 4th quarter worth approximately $33,000. Finally, Aster Capital Management DIFC Ltd acquired a new position in Xenon Pharmaceuticals during the 3rd quarter valued at approximately $39,000. 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.