Xenon Pharmaceuticals Inc. (NASDAQ:XENE) Receives $56.00 Average Target Price from Analysts

Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) have received a consensus recommendation of “Buy” from the nine ratings firms that are presently covering the company, Marketbeat.com reports. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $57.38.

Several equities research analysts recently weighed in on XENE shares. Deutsche Bank Aktiengesellschaft began coverage on Xenon Pharmaceuticals in a report on Tuesday. They set a “buy” rating and a $67.00 price objective on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $60.00 target price on shares of Xenon Pharmaceuticals in a research report on Wednesday, November 13th. Finally, HC Wainwright restated a “buy” rating and set a $53.00 price target on shares of Xenon Pharmaceuticals in a report on Thursday, December 12th.

Xenon Pharmaceuticals Trading Up 2.9 %

XENE stock opened at $39.50 on Monday. The firm has a 50-day moving average price of $39.84 and a 200-day moving average price of $40.56. Xenon Pharmaceuticals has a 12 month low of $35.53 and a 12 month high of $50.99. The stock has a market capitalization of $3.01 billion, a P/E ratio of -14.01 and a beta of 1.20.

Xenon Pharmaceuticals (NASDAQ:XENE) last issued its earnings results 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 quarter last year, the business posted ($0.73) earnings per share. As a group, equities analysts predict that Xenon Pharmaceuticals will post -3.13 EPS for the current fiscal year.

Insider Buying and Selling at Xenon Pharmaceuticals

In other Xenon Pharmaceuticals news, CEO Ian Mortimer sold 22,468 shares of the stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $40.20, for a total transaction of $903,213.60. Following the completion of the sale, the chief executive officer now directly owns 31,302 shares in the company, valued at approximately $1,258,340.40. This trade represents a 41.79 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gary Patou sold 4,891 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $41.08, for a total value of $200,922.28. Following the completion of the transaction, the director now directly owns 23,573 shares in the company, valued at $968,378.84. This represents a 17.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 62,383 shares of company stock valued at $2,535,891. 5.52% of the stock is currently owned by company insiders.

Institutional Trading of Xenon Pharmaceuticals

Several large investors have recently modified their holdings of XENE. Geode Capital Management LLC boosted its position in shares of Xenon Pharmaceuticals by 1.0% during 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 in the last quarter. Franklin Resources Inc. raised its holdings in shares of Xenon Pharmaceuticals by 1.7% in the 4th quarter. Franklin Resources Inc. now owns 575,590 shares of the biopharmaceutical company’s stock worth $22,563,000 after acquiring an additional 9,675 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Xenon Pharmaceuticals by 1.3% in the fourth quarter. Alliancebernstein L.P. now owns 1,443,180 shares of the biopharmaceutical company’s stock valued at $56,573,000 after purchasing an additional 18,445 shares in the last quarter. DnB Asset Management AS boosted its position in shares of Xenon Pharmaceuticals by 6.6% during the fourth quarter. DnB Asset Management AS now owns 203,243 shares of the biopharmaceutical company’s stock valued at $7,967,000 after buying an additional 12,620 shares during the last quarter. Finally, NEOS Investment Management LLC bought a new stake in Xenon Pharmaceuticals during the fourth quarter worth $240,000. Institutional investors and hedge funds own 95.45% of the company’s stock.

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.