Xenon Pharmaceuticals Inc. (NASDAQ:XENE) Receives $57.38 Consensus PT from Brokerages

Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) have been given a consensus recommendation of “Buy” by the nine research firms that are covering the company, MarketBeat.com reports. Nine analysts have rated the stock with a buy rating. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $57.38.

XENE has been the subject of a number of research reports. HC Wainwright restated a “buy” rating and issued a $53.00 target price on shares of Xenon Pharmaceuticals in a research note on Monday, February 24th. William Blair restated an “outperform” rating on shares of Xenon Pharmaceuticals in a research note on Friday, February 28th. StockNews.com raised Xenon Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, March 29th. Deutsche Bank Aktiengesellschaft started coverage on shares of Xenon Pharmaceuticals in a report on Tuesday, February 11th. They set a “buy” rating and a $67.00 price target for the company. Finally, Royal Bank of Canada reaffirmed an “outperform” rating on shares of Xenon Pharmaceuticals in a report on Friday, February 28th.

Insider Buying and Selling

In other Xenon Pharmaceuticals news, CEO Ian Mortimer sold 22,468 shares of the firm’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $40.20, for a total transaction of $903,213.60. Following the transaction, the chief executive officer now owns 31,302 shares of the company’s stock, valued at approximately $1,258,340.40. This trade represents a 41.79 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 5.52% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its holdings in Xenon Pharmaceuticals by 1,263.2% during the third quarter. JPMorgan Chase & Co. now owns 976,783 shares of the biopharmaceutical company’s stock worth $38,456,000 after purchasing an additional 905,129 shares in the last quarter. Barclays PLC raised its stake in shares of Xenon Pharmaceuticals by 1,275.5% in the 3rd quarter. Barclays PLC now owns 14,993 shares of the biopharmaceutical company’s stock worth $590,000 after buying an additional 13,903 shares in the last quarter. Walleye Capital LLC bought a new stake in shares of Xenon Pharmaceuticals in the 3rd quarter worth $4,132,000. Assenagon Asset Management S.A. boosted its stake in Xenon Pharmaceuticals by 12.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 238,522 shares of the biopharmaceutical company’s stock valued at $9,350,000 after buying an additional 26,235 shares in the last quarter. Finally, State Street Corp grew its holdings in Xenon Pharmaceuticals by 13.2% during the third quarter. State Street Corp now owns 279,513 shares of the biopharmaceutical company’s stock worth $11,004,000 after acquiring an additional 32,701 shares during the period. 95.45% of the stock is currently owned by institutional investors.

Xenon Pharmaceuticals Price Performance

Shares of XENE opened at $30.71 on Tuesday. The stock has a market capitalization of $2.35 billion, a PE ratio of -10.89 and a beta of 1.21. The business’s fifty day moving average price is $37.11 and its 200 day moving average price is $39.51. Xenon Pharmaceuticals has a 12-month low of $30.07 and a 12-month high of $46.00.

Xenon Pharmaceuticals (NASDAQ:XENE) last posted its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.84) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.89) by $0.05. As a group, research analysts anticipate that Xenon Pharmaceuticals will post -3.1 earnings per share for the current fiscal year.

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.