Xenon Pharmaceuticals (NASDAQ:XENE) Price Target Raised to $49.00 at Wells Fargo & Company

Xenon Pharmaceuticals (NASDAQ:XENE) had its target price upped by equities research analysts at Wells Fargo & Company from $48.00 to $49.00 in a research note issued to investors on Friday,Benzinga reports. The firm 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.

Several other brokerages also recently weighed in on XENE. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $55.00 target price on shares of Xenon Pharmaceuticals in a research note on Tuesday, November 4th. Chardan Capital raised shares of Xenon Pharmaceuticals to a “strong-buy” rating in a report on Wednesday, November 19th. Stifel Nicolaus set a $66.00 target price on shares of Xenon Pharmaceuticals in a research note on Tuesday, February 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Xenon Pharmaceuticals in a research note on Friday, January 9th. Finally, Needham & Company LLC reissued a “buy” rating and set a $55.00 target price on shares of Xenon Pharmaceuticals in a report on Tuesday, November 4th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $55.25.

Xenon Pharmaceuticals Stock Down 3.7%

Shares of XENE stock traded down $1.67 during mid-day trading on Friday, hitting $43.25. 637,044 shares of the stock were exchanged, compared to its average volume of 909,256. Xenon Pharmaceuticals has a 52-week low of $26.74 and a 52-week high of $46.99. The company has a market cap of $3.34 billion, a PE ratio of -11.11 and a beta of 0.96. The firm has a fifty day moving average of $42.51 and a 200 day moving average of $40.94.

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

Insider Buying and Selling

In other Xenon Pharmaceuticals news, CEO Ian Mortimer sold 40,000 shares of the business’s stock in a transaction 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 transaction, the chief executive officer owned 6,000 shares of the company’s stock, valued at approximately $266,580. The trade was a 86.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold a total of 65,205 shares of company stock worth $2,919,762 in the last quarter. Company insiders own 4.07% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Kestra Advisory Services LLC acquired a new position in Xenon Pharmaceuticals in the 4th quarter valued at about $33,000. Blue Trust Inc. increased its stake in Xenon Pharmaceuticals by 2,560.7% during the fourth quarter. Blue Trust Inc. now owns 745 shares of the biopharmaceutical company’s stock worth $33,000 after acquiring an additional 717 shares during the last quarter. Danske Bank A S purchased a new stake in Xenon Pharmaceuticals in the third quarter valued at $32,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Xenon Pharmaceuticals in the 4th quarter valued at $43,000. Finally, Aster Capital Management DIFC Ltd purchased a new position in shares of Xenon Pharmaceuticals during the 3rd quarter worth $39,000. 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.