Xenon Pharmaceuticals (NASDAQ:XENE) Coverage Initiated at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft assumed coverage on shares of Xenon Pharmaceuticals (NASDAQ:XENE) in a note issued to investors on Tuesday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $67.00 price target on the biopharmaceutical company’s stock. Deutsche Bank Aktiengesellschaft’s target price points to a potential upside of 69.62% from the stock’s current price.

Other analysts also recently issued reports about the company. HC Wainwright reaffirmed a “buy” rating and issued a $53.00 target price on shares of Xenon Pharmaceuticals in a research note on Thursday, December 12th. Needham & Company LLC reaffirmed a “buy” rating and issued a $60.00 target price on shares of Xenon Pharmaceuticals in a research note on Wednesday, November 13th. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $57.38.

Xenon Pharmaceuticals Stock Up 2.9 %

Shares of XENE opened at $39.50 on Tuesday. Xenon Pharmaceuticals has a 52-week low of $35.53 and a 52-week high of $50.99. The company has a market capitalization of $3.01 billion, a PE ratio of -14.01 and a beta of 1.20. The stock has a fifty day simple moving average of $39.84 and a two-hundred day simple moving average of $40.56.

Xenon Pharmaceuticals (NASDAQ:XENE) last issued its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.81) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.82) by $0.01. During the same period last year, the company earned ($0.73) earnings per share. As a group, equities analysts anticipate that Xenon Pharmaceuticals will post -3.13 earnings per share for the current fiscal year.

Insider Transactions at Xenon Pharmaceuticals

In related news, CEO Ian Mortimer sold 16,315 shares of the firm’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $40.50, for a total transaction of $660,757.50. Following the completion of the transaction, the chief executive officer now directly owns 31,302 shares in the company, valued at $1,267,731. This trade represents a 34.26 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Sherry Aulin sold 18,709 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $41.21, for a total value of $770,997.89. The disclosure for this sale can be found here. In the last ninety days, insiders sold 62,383 shares of company stock worth $2,535,891. 5.52% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Xenon Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in XENE. nVerses Capital LLC acquired a new stake in shares of Xenon Pharmaceuticals during the 3rd quarter worth about $102,000. Blue Trust Inc. raised its position in shares of Xenon Pharmaceuticals by 174.7% during the 3rd quarter. Blue Trust Inc. now owns 1,008 shares of the biopharmaceutical company’s stock worth $39,000 after acquiring an additional 641 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of Xenon Pharmaceuticals by 188.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 212,287 shares of the biopharmaceutical company’s stock worth $8,358,000 after acquiring an additional 138,685 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Xenon Pharmaceuticals by 21.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,740 shares of the biopharmaceutical company’s stock worth $106,000 after buying an additional 487 shares during the period. Finally, abrdn plc increased its position in Xenon Pharmaceuticals by 16.9% during the third quarter. abrdn plc now owns 248,311 shares of the biopharmaceutical company’s stock worth $9,776,000 after buying an additional 35,809 shares during the period. Hedge funds and other institutional investors own 95.45% of the company’s stock.

About Xenon Pharmaceuticals

Xenon Pharmaceuticals Inc, a neuroscience-focused biopharmaceutical company, engages in the development of therapeutics to treat patients with neurological disorders in Canada. Its clinical development pipeline includes XEN1101, a novel and potent Kv7 potassium channel opener, which is in Phase 3 clinical trials for the treatment of epilepsy and other neurological disorders.