Xenon Pharmaceuticals Inc. (NASDAQ:XENE) Receives Consensus Rating of “Buy” from Brokerages

Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) have earned a consensus recommendation of “Buy” from the nine ratings firms that are covering the firm, Marketbeat Ratings reports. Eight 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 issued ratings on the stock in the last year is $56.00.

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

Xenon Pharmaceuticals Stock Performance

Shares of NASDAQ XENE opened at $38.63 on Friday. The company has a 50 day simple moving average of $41.85 and a two-hundred day simple moving average of $40.48. Xenon Pharmaceuticals has a fifty-two week low of $35.53 and a fifty-two week high of $50.99. The company has a market capitalization of $2.95 billion, a price-to-earnings ratio of -13.70 and a beta of 1.19.

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

Insider Transactions at Xenon Pharmaceuticals

In other Xenon Pharmaceuticals news, Director Gary Patou sold 4,891 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $41.08, for a total value of $200,922.28. Following the transaction, the director now directly owns 23,573 shares in the company, valued at approximately $968,378.84. This trade represents a 17.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Sherry Aulin sold 18,709 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were 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. Company insiders own 5.52% of the company’s stock.

Hedge Funds Weigh In On Xenon Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the stock. FMR LLC raised its stake in shares of Xenon Pharmaceuticals by 2.2% in the third quarter. FMR LLC now owns 6,917,684 shares of the biopharmaceutical company’s stock worth $272,349,000 after buying an additional 149,511 shares during the period. Driehaus Capital Management LLC increased its holdings in Xenon Pharmaceuticals by 2.3% in the 2nd quarter. Driehaus Capital Management LLC now owns 4,419,472 shares of the biopharmaceutical company’s stock worth $172,315,000 after acquiring an additional 97,732 shares in the last quarter. Wellington Management Group LLP raised its stake in Xenon Pharmaceuticals by 0.4% during the 3rd quarter. Wellington Management Group LLP now owns 3,843,447 shares of the biopharmaceutical company’s stock worth $151,317,000 after acquiring an additional 15,226 shares during the period. Braidwell LP lifted its holdings in Xenon Pharmaceuticals by 5.7% during the third quarter. Braidwell LP now owns 2,707,255 shares of the biopharmaceutical company’s stock valued at $106,585,000 after purchasing an additional 146,682 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its position in shares of Xenon Pharmaceuticals by 144.2% in the third quarter. Janus Henderson Group PLC now owns 2,552,392 shares of the biopharmaceutical company’s stock worth $100,506,000 after purchasing an additional 1,507,135 shares during the period. 95.45% of the stock is currently owned by hedge funds and other institutional investors.

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.