Xenon Pharmaceuticals Inc. (NASDAQ:XENE) Receives $57.38 Average Target Price from Brokerages

Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) have been given a consensus rating of “Buy” by the nine ratings firms that are currently covering the firm, MarketBeat reports. Nine equities research analysts have rated the stock with a buy rating. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $57.38.

Several brokerages have recently commented on XENE. Needham & Company LLC restated a “buy” rating and issued a $60.00 target price on shares of Xenon Pharmaceuticals in a research note on Wednesday, November 13th. William Blair reiterated an “outperform” rating on shares of Xenon Pharmaceuticals in a research note on Friday, February 28th. Deutsche Bank Aktiengesellschaft began coverage on Xenon Pharmaceuticals in a research note on Tuesday, February 11th. They set a “buy” rating and a $67.00 price target for the company. Finally, HC Wainwright reiterated a “buy” rating and set a $53.00 price target on shares of Xenon Pharmaceuticals in a research note on Monday, February 24th.

Insider Transactions at Xenon Pharmaceuticals

In other news, CEO Ian Mortimer sold 22,468 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 31,302 shares in the company, valued at $1,258,340.40. The trade was a 41.79 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Sherry Aulin sold 18,709 shares of Xenon Pharmaceuticals stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $41.21, for a total transaction of $770,997.89. The disclosure for this sale can be found here. Insiders have sold 57,492 shares of company stock worth $2,334,969 in the last 90 days. Insiders own 5.52% of the company’s stock.

Institutional Investors Weigh In On Xenon Pharmaceuticals

A number of hedge funds have recently modified their holdings of the stock. Advisors Asset Management Inc. raised its holdings in shares of Xenon Pharmaceuticals by 3.8% in the 3rd quarter. Advisors Asset Management Inc. now owns 13,592 shares of the biopharmaceutical company’s stock worth $535,000 after purchasing an additional 493 shares during the period. Occudo Quantitative Strategies LP raised its holdings in shares of Xenon Pharmaceuticals by 5.8% in the 4th quarter. Occudo Quantitative Strategies LP now owns 11,441 shares of the biopharmaceutical company’s stock worth $448,000 after purchasing an additional 630 shares during the period. Geode Capital Management LLC raised its holdings in shares of Xenon Pharmaceuticals by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 69,529 shares of the biopharmaceutical company’s stock worth $2,726,000 after purchasing an additional 720 shares during the period. KBC Group NV raised its holdings in shares of Xenon Pharmaceuticals by 39.8% in the 4th quarter. KBC Group NV now owns 2,742 shares of the biopharmaceutical company’s stock worth $107,000 after purchasing an additional 780 shares during the period. Finally, HighVista Strategies LLC raised its holdings in shares of Xenon Pharmaceuticals by 1.4% in the 3rd quarter. HighVista Strategies LLC now owns 73,762 shares of the biopharmaceutical company’s stock worth $2,904,000 after purchasing an additional 1,047 shares during the period. Institutional investors own 95.45% of the company’s stock.

Xenon Pharmaceuticals Trading Down 2.1 %

XENE stock opened at $36.50 on Friday. The stock has a 50-day moving average price of $39.06 and a 200-day moving average price of $40.24. The firm has a market cap of $2.79 billion, a PE ratio of -12.94 and a beta of 1.26. Xenon Pharmaceuticals has a 1-year low of $33.27 and a 1-year high of $46.00.

Xenon Pharmaceuticals (NASDAQ:XENE) last issued its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.84) EPS for the quarter, beating the consensus estimate of ($0.89) by $0.05. On average, analysts forecast that Xenon Pharmaceuticals will post -3.1 earnings per share for the current 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.