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

Equities researchers at Deutsche Bank Aktiengesellschaft assumed coverage on shares of Xenon Pharmaceuticals (NASDAQ:XENE) in a research report issued to clients and investors on Tuesday,Briefing.com Automated Import reports. The firm 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 70.70% from the stock’s previous close.

Several other equities analysts have also recently issued reports on the company. HC Wainwright reissued a “buy” rating and set 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 price target on shares of Xenon Pharmaceuticals in a research note on Wednesday, November 13th. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Xenon Pharmaceuticals currently has an average rating of “Buy” and a consensus price target of $57.38.

Xenon Pharmaceuticals Stock Performance

Shares of XENE stock opened at $39.25 on Tuesday. Xenon Pharmaceuticals has a fifty-two week low of $35.53 and a fifty-two week high of $50.99. The stock has a 50 day moving average price of $39.97 and a two-hundred day moving average price of $40.64. The company has a market capitalization of $2.99 billion, a P/E ratio of -13.92 and a beta of 1.20.

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

Insiders Place Their Bets

In other Xenon Pharmaceuticals news, Director Gary Patou sold 4,891 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $41.08, for a total value of $200,922.28. Following the sale, the director now directly owns 23,573 shares of the company’s stock, valued at approximately $968,378.84. The trade was a 17.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Ian Mortimer sold 22,468 shares of the business’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $40.20, for a total value of $903,213.60. Following the completion of the sale, the chief executive officer now directly owns 31,302 shares in the company, valued at $1,258,340.40. This trade represents a 41.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 62,383 shares of company stock valued at $2,535,891. 5.52% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of XENE. Blue Trust Inc. lifted its holdings in shares of Xenon Pharmaceuticals by 174.7% during the third quarter. Blue Trust Inc. now owns 1,008 shares of the biopharmaceutical company’s stock valued at $39,000 after purchasing an additional 641 shares in the last quarter. Avior Wealth Management LLC bought a new position in shares of Xenon Pharmaceuticals during the fourth quarter valued at $101,000. nVerses Capital LLC bought a new position in shares of Xenon Pharmaceuticals during the third quarter valued at $102,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of 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 valued at $106,000 after purchasing an additional 487 shares in the last quarter. Finally, KBC Group NV lifted its holdings in shares of Xenon Pharmaceuticals by 39.8% during the fourth quarter. KBC Group NV now owns 2,742 shares of the biopharmaceutical company’s stock valued at $107,000 after purchasing an additional 780 shares in the last quarter. 95.45% of the stock is owned by institutional investors.

Xenon Pharmaceuticals Company Profile

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.