Wells Fargo & Company Issues Positive Forecast for Xenon Pharmaceuticals (NASDAQ:XENE) Stock Price

Xenon Pharmaceuticals (NASDAQ:XENE) had its price objective upped by stock analysts at Wells Fargo & Company from $48.00 to $49.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the biopharmaceutical company’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 13.31% from the stock’s previous close.

A number of other analysts have also weighed in on XENE. Needham & Company LLC reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Xenon Pharmaceuticals in a research note on Tuesday, November 4th. Stifel Nicolaus set a $66.00 price target on shares of Xenon Pharmaceuticals in a research report on Tuesday, February 10th. Royal Bank Of Canada upped their target price on Xenon Pharmaceuticals from $55.00 to $58.00 and gave the stock an “outperform” rating in a report on Tuesday, November 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Xenon Pharmaceuticals in a report on Friday, January 9th. Finally, Chardan Capital raised Xenon Pharmaceuticals to a “strong-buy” rating in a research report on Wednesday, November 19th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $55.25.

Xenon Pharmaceuticals Stock Down 3.7%

XENE traded down $1.67 on Friday, reaching $43.25. 637,044 shares of the company traded hands, compared to its average volume of 909,256. The company has a market cap of $3.34 billion, a P/E ratio of -11.11 and a beta of 0.96. Xenon Pharmaceuticals has a one year low of $26.74 and a one year high of $46.99. The firm has a fifty day simple moving average of $42.51 and a two-hundred day simple moving average of $40.94.

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

Insiders Place Their Bets

In other news, CEO Ian Mortimer sold 40,000 shares of the stock in a transaction dated 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 transaction, the chief executive officer directly owned 6,000 shares of the company’s stock, valued at approximately $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 accessible through the SEC website. In the last quarter, insiders sold 65,205 shares of company stock worth $2,919,762. 4.07% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Xenon Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Cinctive Capital Management LP lifted its position in Xenon Pharmaceuticals by 1.1% during the fourth quarter. Cinctive Capital Management LP now owns 23,317 shares of the biopharmaceutical company’s stock valued at $1,045,000 after purchasing an additional 263 shares during the period. Arizona State Retirement System grew its holdings in Xenon Pharmaceuticals by 1.8% during the third quarter. Arizona State Retirement System now owns 19,290 shares of the biopharmaceutical company’s stock worth $774,000 after acquiring an additional 334 shares during the period. State of Wyoming raised its position in Xenon Pharmaceuticals by 30.4% during the fourth quarter. State of Wyoming now owns 1,501 shares of the biopharmaceutical company’s stock valued at $67,000 after acquiring an additional 350 shares in the last quarter. Quarry LP lifted its holdings in Xenon Pharmaceuticals by 25.0% in the third quarter. Quarry LP now owns 2,500 shares of the biopharmaceutical company’s stock valued at $100,000 after acquiring an additional 500 shares during the period. Finally, Altfest L J & Co. Inc. boosted its position in Xenon Pharmaceuticals by 6.5% in the 4th quarter. Altfest L J & Co. Inc. now owns 8,232 shares of the biopharmaceutical company’s stock worth $369,000 after purchasing an additional 501 shares in the last quarter. Institutional investors and hedge funds own 95.45% of the company’s stock.

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.