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

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

Several equities research analysts recently issued reports on XENE shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Xenon Pharmaceuticals in a report on Tuesday, February 11th. They issued a “buy” rating and a $67.00 target price for the company. StockNews.com upgraded shares of Xenon Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday. William Blair restated an “outperform” rating on shares of Xenon Pharmaceuticals in a research note on Friday, February 28th. HC Wainwright reiterated a “buy” rating and issued a $53.00 price target on shares of Xenon Pharmaceuticals in a research note on Monday, February 24th. Finally, Royal Bank of Canada reissued an “outperform” rating on shares of Xenon Pharmaceuticals in a report on Friday, February 28th.

Xenon Pharmaceuticals Stock Down 2.1 %

Xenon Pharmaceuticals stock opened at $33.55 on Tuesday. The business has a 50-day simple moving average of $37.62 and a two-hundred day simple moving average of $39.70. Xenon Pharmaceuticals has a 52-week low of $32.70 and a 52-week high of $46.00. The company has a market cap of $2.57 billion, a P/E ratio of -11.90 and a beta of 1.26.

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

Insider Activity

In other news, CEO Ian Mortimer sold 22,468 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 31,302 shares in the company, valued at approximately $1,258,340.40. This represents a 41.79 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 5.52% of the company’s stock.

Institutional Investors Weigh In On Xenon Pharmaceuticals

Several large investors have recently bought and sold shares of the business. GF Fund Management CO. LTD. purchased a new stake in shares of Xenon Pharmaceuticals during the 4th quarter valued at about $63,000. Quarry LP purchased a new stake in Xenon Pharmaceuticals during the fourth quarter valued at approximately $78,000. Blue Trust Inc. lifted its stake in shares of Xenon Pharmaceuticals by 140.3% in the 4th quarter. Blue Trust Inc. now owns 2,422 shares of the biopharmaceutical company’s stock valued at $95,000 after purchasing an additional 1,414 shares during the last quarter. Avior Wealth Management LLC purchased a new position in shares of Xenon Pharmaceuticals in the 4th quarter worth approximately $101,000. Finally, KBC Group NV boosted 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. 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.