Xenon Pharmaceuticals Inc. (NASDAQ:XENE) Given Consensus Rating of “Buy” by Analysts

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) has earned an average recommendation of “Buy” from the nine analysts that are presently covering the firm, Marketbeat.com reports. Nine investment analysts have rated the stock with a buy recommendation. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $59.11.

Several equities research analysts recently commented on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $62.00 price objective on shares of Xenon Pharmaceuticals in a research report on Friday, May 10th. Royal Bank of Canada restated an “outperform” rating and issued a $55.00 price target on shares of Xenon Pharmaceuticals in a research note on Tuesday, June 18th. Cantor Fitzgerald reiterated an “overweight” rating and set a $65.00 target price on shares of Xenon Pharmaceuticals in a research note on Wednesday, April 10th. Citigroup reduced their price target on Xenon Pharmaceuticals from $62.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, May 10th. Finally, Wedbush cut their price target on shares of Xenon Pharmaceuticals from $51.00 to $50.00 and set an “outperform” rating for the company in a report on Friday, May 10th.

Xenon Pharmaceuticals Price Performance

Xenon Pharmaceuticals stock opened at $38.99 on Friday. The firm has a market capitalization of $2.94 billion, a price-to-earnings ratio of -14.39 and a beta of 1.22. The company’s 50 day simple moving average is $39.33 and its 200 day simple moving average is $42.97. Xenon Pharmaceuticals has a fifty-two week low of $27.99 and a fifty-two week high of $50.99.

Xenon Pharmaceuticals (NASDAQ:XENE) last released its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($0.62) EPS for the quarter, beating analysts’ consensus estimates of ($0.69) by $0.07. The firm had revenue of $1.00 million during the quarter. During the same period in the prior year, the company posted ($0.63) EPS. The firm’s quarterly revenue was up .0% compared to the same quarter last year. As a group, analysts predict that Xenon Pharmaceuticals will post -2.98 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Tower Research Capital LLC TRC lifted its stake in shares of Xenon Pharmaceuticals by 414.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,014 shares of the biopharmaceutical company’s stock worth $47,000 after acquiring an additional 817 shares during the period. Parallel Advisors LLC boosted its stake in shares of Xenon Pharmaceuticals by 51.2% in the 4th quarter. Parallel Advisors LLC now owns 1,125 shares of the biopharmaceutical company’s stock valued at $52,000 after purchasing an additional 381 shares during the last quarter. PNC Financial Services Group Inc. acquired a new stake in shares of Xenon Pharmaceuticals during the fourth quarter worth $91,000. 17 Capital Partners LLC bought a new position in Xenon Pharmaceuticals during the first quarter worth $122,000. Finally, EntryPoint Capital LLC bought a new stake in Xenon Pharmaceuticals during the first quarter valued at $195,000. Institutional investors and hedge funds own 95.45% of the company’s stock.

Xenon Pharmaceuticals Company Profile

Xenon Pharmaceuticals Inc, a clinical-stage biopharmaceutical company, engages in developing therapeutics to treat patients with neurological disorders in Canada. Its clinical development pipeline includes XEN496, a Kv7 potassium channel opener that is Phase III clinical trials for the treatment of KCNQ2 developmental and epileptic encephalopathy; and XEN1101, a Kv7 potassium channel opener, which is in Phase II clinical trial for the treatment of epilepsy and other neurological disorders.