Needham & Company LLC Forecasts Strong Price Appreciation for Xenon Pharmaceuticals (NASDAQ:XENE) Stock

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

Several other equities analysts have also recently commented on the company. Wolfe Research started coverage on Xenon Pharmaceuticals in a report on Monday. They issued an “outperform” rating and a $60.00 price target for the company. Stifel Nicolaus set a $66.00 target price on Xenon Pharmaceuticals in a research note on Tuesday, February 10th. Cantor Fitzgerald reiterated an “overweight” rating and set a $55.00 price target on shares of Xenon Pharmaceuticals in a research note on Tuesday, November 4th. JPMorgan Chase & Co. boosted their price target on shares of Xenon Pharmaceuticals from $60.00 to $62.00 and gave the company an “overweight” rating in a report on Friday, January 9th. Finally, Wells Fargo & Company increased 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. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $55.50.

Xenon Pharmaceuticals Trading Down 4.8%

NASDAQ:XENE traded down $2.14 during trading hours on Friday, hitting $42.78. 996,925 shares of the company traded hands, compared to its average volume of 918,322. Xenon Pharmaceuticals has a twelve month low of $26.74 and a twelve month high of $46.99. The firm has a 50-day moving average of $42.51 and a 200 day moving average of $40.94. The stock has a market capitalization of $3.31 billion, a price-to-earnings ratio of -10.94 and a beta of 0.96.

Xenon Pharmaceuticals (NASDAQ:XENE) last posted its quarterly earnings data on Thursday, February 26th. The biopharmaceutical company reported ($1.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.20) by ($0.11). During the same period in the prior year, the company posted ($0.84) EPS. Equities research analysts predict that Xenon Pharmaceuticals will post -3.1 earnings per share for the current fiscal year.

Insider Transactions at Xenon Pharmaceuticals

In related news, CEO Ian Mortimer sold 40,000 shares of Xenon Pharmaceuticals stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $44.43, for a total transaction of $1,777,200.00. Following the completion of the transaction, the chief executive officer directly owned 6,000 shares of the company’s stock, valued at $266,580. This trade represents a 86.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last ninety days, insiders have sold 65,205 shares of company stock worth $2,919,762. Company insiders own 4.07% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. grew its position in Xenon Pharmaceuticals by 7.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 442,732 shares of the biopharmaceutical company’s stock worth $14,854,000 after acquiring an additional 32,486 shares during the last quarter. State of New Jersey Common Pension Fund D increased its stake in shares of Xenon Pharmaceuticals by 22.5% in the second quarter. State of New Jersey Common Pension Fund D now owns 61,772 shares of the biopharmaceutical company’s stock valued at $1,933,000 after buying an additional 11,355 shares in the last quarter. Assetmark Inc. raised its holdings in shares of Xenon Pharmaceuticals by 6.6% in the second quarter. Assetmark Inc. now owns 21,250 shares of the biopharmaceutical company’s stock valued at $665,000 after buying an additional 1,316 shares during the last quarter. Amalgamated Bank acquired a new position in Xenon Pharmaceuticals during the 2nd quarter worth about $81,000. Finally, Bank of New York Mellon Corp grew its holdings in Xenon Pharmaceuticals by 73.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 436,020 shares of the biopharmaceutical company’s stock worth $13,647,000 after acquiring an additional 184,873 shares during the last quarter. Institutional investors own 95.45% of the company’s stock.

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.