Xenon Pharmaceuticals Inc. (NASDAQ:XENE) Receives $56.00 Average PT from Analysts

Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) have earned an average rating of “Buy” from the nine brokerages that are covering the company, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $56.00.

A number of brokerages recently issued reports on XENE. HC Wainwright reiterated a “buy” rating and issued a $53.00 target price on shares of Xenon Pharmaceuticals in a research report on Thursday, December 12th. William Blair upgraded Xenon Pharmaceuticals to a “strong-buy” rating in a research report on Friday, August 30th. Raymond James reiterated an “outperform” rating and set a $50.00 price target on shares of Xenon Pharmaceuticals in a research report on Thursday, October 10th. Needham & Company LLC restated a “buy” rating and issued a $60.00 price objective on shares of Xenon Pharmaceuticals in a report on Wednesday, November 13th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $55.00 target price on shares of Xenon Pharmaceuticals in a report on Tuesday, September 3rd.

Xenon Pharmaceuticals Trading Up 0.7 %

Shares of NASDAQ XENE opened at $38.42 on Friday. Xenon Pharmaceuticals has a 12-month low of $35.53 and a 12-month high of $50.99. The company has a market cap of $2.93 billion, a PE ratio of -13.62 and a beta of 1.19. The stock has a 50 day simple moving average of $41.78 and a 200-day simple moving average of $40.50.

Xenon Pharmaceuticals (NASDAQ:XENE) last announced its quarterly 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 business posted ($0.73) EPS. Sell-side analysts forecast that Xenon Pharmaceuticals will post -3.1 earnings per share for the current fiscal year.

Insider Activity at Xenon Pharmaceuticals

In other Xenon Pharmaceuticals news, CFO Sherry Aulin sold 18,709 shares of Xenon Pharmaceuticals stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $41.21, for a total transaction of $770,997.89. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Gary Patou sold 4,891 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $41.08, for a total transaction of $200,922.28. Following the completion of the transaction, the director now owns 23,573 shares in the company, valued at approximately $968,378.84. This represents a 17.18 % decrease in their position. The disclosure for this sale can be found here. 5.52% of the stock is currently owned by corporate insiders.

Institutional Trading of Xenon Pharmaceuticals

Several large investors have recently made changes to their positions in the stock. FMR LLC raised its stake in shares of Xenon Pharmaceuticals by 2.2% in the 3rd quarter. FMR LLC now owns 6,917,684 shares of the biopharmaceutical company’s stock valued at $272,349,000 after acquiring an additional 149,511 shares in the last quarter. Driehaus Capital Management LLC raised its position in shares of Xenon Pharmaceuticals by 2.3% in the second quarter. Driehaus Capital Management LLC now owns 4,419,472 shares of the biopharmaceutical company’s stock valued at $172,315,000 after purchasing an additional 97,732 shares during the period. Wellington Management Group LLP lifted its stake in shares of Xenon Pharmaceuticals by 0.4% in the third quarter. Wellington Management Group LLP now owns 3,843,447 shares of the biopharmaceutical company’s stock worth $151,317,000 after buying an additional 15,226 shares during the last quarter. Braidwell LP boosted its holdings in shares of Xenon Pharmaceuticals by 5.7% during the 3rd quarter. Braidwell LP now owns 2,707,255 shares of the biopharmaceutical company’s stock worth $106,585,000 after buying an additional 146,682 shares during the period. Finally, Janus Henderson Group PLC grew its stake in Xenon Pharmaceuticals by 144.2% in the 3rd quarter. Janus Henderson Group PLC now owns 2,552,392 shares of the biopharmaceutical company’s stock valued at $100,506,000 after buying an additional 1,507,135 shares during the last quarter. 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.