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

Xenon Pharmaceuticals (NASDAQ:XENE) had its price target raised by Wells Fargo & Company from $48.00 to $49.00 in a research note published on Friday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the biopharmaceutical company’s stock.

A number of other equities research analysts have also issued reports on XENE. Weiss Ratings restated a “sell (d-)” rating on shares of Xenon Pharmaceuticals in a research report on Friday, January 9th. Cantor Fitzgerald restated an “overweight” rating and issued a $55.00 target price on shares of Xenon Pharmaceuticals in a report on Tuesday, November 4th. Chardan Capital upgraded Xenon Pharmaceuticals to a “strong-buy” rating in a report on Wednesday, November 19th. Wolfe Research began coverage on shares of Xenon Pharmaceuticals in a research report on Monday. They set an “outperform” rating and a $60.00 price target on the stock. Finally, Royal Bank Of Canada upped their price objective on shares of Xenon Pharmaceuticals from $55.00 to $58.00 and gave the company an “outperform” rating in a report on Tuesday, November 4th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $55.25.

Xenon Pharmaceuticals Stock Down 3.7%

Shares of Xenon Pharmaceuticals stock traded down $1.67 during trading hours on Friday, reaching $43.25. 637,044 shares of the company’s stock were exchanged, compared to its average volume of 909,256. The business has a fifty day moving average of $42.51 and a two-hundred day moving average of $40.94. The company has a market capitalization of $3.34 billion, a P/E ratio of -11.11 and a beta of 0.96. Xenon Pharmaceuticals has a 1 year low of $26.74 and a 1 year high of $46.99.

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

Insider Activity

In other news, CEO Ian Mortimer sold 40,000 shares of the company’s stock in a transaction that occurred on Friday, January 2nd. The shares were 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 in the company, valued at approximately $266,580. This represents a 86.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders have sold 65,205 shares of company stock valued at $2,919,762. 4.07% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Xenon Pharmaceuticals

A number of institutional investors have recently modified their holdings of the company. Cinctive Capital Management LP lifted its stake in Xenon Pharmaceuticals by 1.1% during the 4th quarter. Cinctive Capital Management LP now owns 23,317 shares of the biopharmaceutical company’s stock worth $1,045,000 after acquiring an additional 263 shares in the last quarter. Arizona State Retirement System lifted its position in shares of 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 purchasing an additional 334 shares in the last quarter. State of Wyoming boosted its stake in shares of Xenon Pharmaceuticals by 30.4% in the fourth quarter. State of Wyoming now owns 1,501 shares of the biopharmaceutical company’s stock valued at $67,000 after purchasing an additional 350 shares during the period. Quarry LP grew its holdings in shares of 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 purchasing an additional 500 shares in the last quarter. Finally, Altfest L J & Co. Inc. increased its stake in Xenon Pharmaceuticals by 6.5% during the 4th quarter. Altfest L J & Co. Inc. now owns 8,232 shares of the biopharmaceutical company’s stock worth $369,000 after buying an additional 501 shares during the period. 95.45% of the stock is owned by institutional investors and hedge funds.

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.