Needham & Company LLC reaffirmed their buy rating on shares of Xenon Pharmaceuticals (NASDAQ:XENE – Get Rating) in a report released on Friday morning, Benzinga reports. Needham & Company LLC currently has a $50.00 target price on the biopharmaceutical company’s stock.
Other equities analysts also recently issued reports about the company. StockNews.com assumed coverage on Xenon Pharmaceuticals in a research report on Thursday, March 16th. They set a sell rating for the company. JPMorgan Chase & Co. lifted their target price on Xenon Pharmaceuticals from $52.00 to $54.00 in a research report on Wednesday, January 4th. Finally, Royal Bank of Canada reissued an outperform rating and issued a $51.00 price objective on shares of Xenon Pharmaceuticals in a research report on Wednesday, March 22nd. One analyst has rated the stock with a sell rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $50.70.
Xenon Pharmaceuticals Stock Performance
Shares of NASDAQ XENE opened at $39.26 on Friday. Xenon Pharmaceuticals has a 52 week low of $24.94 and a 52 week high of $41.39. The stock has a market capitalization of $2.47 billion, a P/E ratio of -19.25 and a beta of 1.40. The stock’s fifty day moving average is $36.37 and its 200 day moving average is $36.67.
Insider Transactions at Xenon Pharmaceuticals
In related news, Director Simon N. Pimstone sold 19,232 shares of Xenon Pharmaceuticals stock in a transaction on Tuesday, March 7th. The stock was sold at an average price of $36.98, for a total transaction of $711,199.36. Following the transaction, the director now directly owns 34,002 shares in the company, valued at $1,257,393.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 6.06% of the company’s stock.
Institutional Investors Weigh In On Xenon Pharmaceuticals
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its position in Xenon Pharmaceuticals by 33.4% during the 1st quarter. JPMorgan Chase & Co. now owns 6,371 shares of the biopharmaceutical company’s stock valued at $194,000 after acquiring an additional 1,596 shares in the last quarter. Citigroup Inc. raised its stake in shares of Xenon Pharmaceuticals by 4,353.5% during the 1st quarter. Citigroup Inc. now owns 102,475 shares of the biopharmaceutical company’s stock valued at $3,133,000 after buying an additional 100,174 shares during the last quarter. BlackRock Inc. grew its position in shares of Xenon Pharmaceuticals by 8.3% during the 1st quarter. BlackRock Inc. now owns 614,957 shares of the biopharmaceutical company’s stock valued at $18,801,000 after acquiring an additional 47,385 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Xenon Pharmaceuticals by 0.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 293,729 shares of the biopharmaceutical company’s stock valued at $8,979,000 after acquiring an additional 1,783 shares during the period. Finally, Allianz Asset Management GmbH grew its position in shares of Xenon Pharmaceuticals by 46.2% during the 1st quarter. Allianz Asset Management GmbH now owns 102,185 shares of the biopharmaceutical company’s stock valued at $3,123,000 after acquiring an additional 32,280 shares during the period. 92.49% of the stock is currently owned by hedge funds and other institutional investors.
About Xenon Pharmaceuticals
Xenon Pharmaceuticals, Inc is a clinical stage biopharmaceutical company. It develops therapeutics to improve the lives of patients with neurological disorders, including rare central nervous system (CNS) conditions. The company’s products include XEN496, XEN1101, XEN901 and XEN007. Xenon Pharmaceuticals was founded by Simon Neil Pimstone, Johannes J.
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