Xenon Pharmaceuticals Inc. (NASDAQ:XENE) Receives $57.45 Consensus Price Target from Analysts

Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) have received a consensus rating of “Buy” from the twelve research firms that are presently covering the stock, MarketBeat Ratings reports. Eleven research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $57.45.

Several research firms have weighed in on XENE. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $55.00 price target on shares of Xenon Pharmaceuticals in a research note on Tuesday, September 3rd. HC Wainwright reaffirmed a “buy” rating and issued a $53.00 target price on shares of Xenon Pharmaceuticals in a research report on Wednesday, November 13th. Wedbush dropped their price target on Xenon Pharmaceuticals from $50.00 to $49.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Raymond James reissued an “outperform” rating and issued a $50.00 price objective on shares of Xenon Pharmaceuticals in a research note on Thursday, October 10th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $65.00 price objective on shares of Xenon Pharmaceuticals in a report on Friday, August 9th.

Xenon Pharmaceuticals Stock Performance

Shares of XENE stock opened at $42.63 on Wednesday. Xenon Pharmaceuticals has a fifty-two week low of $35.18 and a fifty-two week high of $50.99. The stock has a 50 day simple moving average of $41.47 and a two-hundred day simple moving average of $40.26. The company has a market cap of $3.25 billion, a P/E ratio of -15.12 and a beta of 1.25.

Xenon Pharmaceuticals (NASDAQ:XENE) last released its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported ($0.81) earnings per share for the quarter, beating the consensus estimate of ($0.82) by $0.01. During the same quarter in the prior year, the business posted ($0.73) earnings per share. On average, research analysts predict that Xenon Pharmaceuticals will post -3.1 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Gary Patou sold 4,891 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $41.08, for a total transaction of $200,922.28. Following the transaction, the director now directly owns 23,573 shares of the company’s stock, valued at $968,378.84. This trade represents a 17.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.52% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Xenon Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its stake in shares of Xenon Pharmaceuticals by 174.7% in the 3rd quarter. Blue Trust Inc. now owns 1,008 shares of the biopharmaceutical company’s stock worth $39,000 after buying an additional 641 shares during the last quarter. nVerses Capital LLC bought a new position in Xenon Pharmaceuticals in the 3rd quarter valued at $102,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Xenon Pharmaceuticals by 21.6% during the 3rd 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 during the last quarter. Quarry LP raised its stake in shares of Xenon Pharmaceuticals by 207.7% during the 2nd quarter. Quarry LP now owns 4,000 shares of the biopharmaceutical company’s stock worth $156,000 after purchasing an additional 2,700 shares during the period. Finally, Virtu Financial LLC bought a new stake in shares of Xenon Pharmaceuticals during the 1st quarter worth $287,000. Hedge funds and other institutional investors own 95.45% of the company’s stock.

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.