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

Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) have earned a consensus recommendation of “Buy” from the twelve research firms that are presently covering the firm, MarketBeat reports. Eleven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $57.45.

Several research analysts have issued reports on XENE shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $65.00 target price on shares of Xenon Pharmaceuticals in a research report on Friday, August 9th. Raymond James reissued an “outperform” rating and set a $50.00 price objective on shares of Xenon Pharmaceuticals in a research report on Thursday, October 10th. HC Wainwright began coverage on Xenon Pharmaceuticals in a research report on Tuesday, October 1st. They set a “buy” rating and a $53.00 target price on the stock. Wedbush lowered their price objective on Xenon Pharmaceuticals from $50.00 to $49.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $55.00 price target on shares of Xenon Pharmaceuticals in a report on Tuesday, September 3rd.

Xenon Pharmaceuticals Stock Performance

NASDAQ XENE opened at $41.69 on Friday. The company has a market capitalization of $3.16 billion, a price-to-earnings ratio of -15.22 and a beta of 1.25. The stock has a 50-day moving average of $40.61 and a 200 day moving average of $40.17. Xenon Pharmaceuticals has a one year low of $27.99 and a one year high of $50.99.

Xenon Pharmaceuticals (NASDAQ:XENE) last posted its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.75) EPS for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.05). During the same period last year, the company earned ($0.72) EPS. On average, equities analysts predict that Xenon Pharmaceuticals will post -3.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Xenon Pharmaceuticals

Large investors have recently made changes to their positions in the company. Blue Trust Inc. raised its holdings in shares of Xenon Pharmaceuticals by 174.7% during the 3rd quarter. Blue Trust Inc. now owns 1,008 shares of the biopharmaceutical company’s stock worth $39,000 after acquiring an additional 641 shares in the last quarter. PNC Financial Services Group Inc. bought a new position in shares of Xenon Pharmaceuticals in the 4th quarter valued at about $91,000. nVerses Capital LLC bought a new stake in Xenon Pharmaceuticals during the third quarter worth approximately $102,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Xenon Pharmaceuticals by 21.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,740 shares of the biopharmaceutical company’s stock valued at $106,000 after purchasing an additional 487 shares during the last quarter. Finally, Quarry LP boosted its holdings in shares of Xenon Pharmaceuticals by 207.7% in the 2nd quarter. Quarry LP now owns 4,000 shares of the biopharmaceutical company’s stock worth $156,000 after purchasing an additional 2,700 shares during the period. 95.45% of the stock is owned by institutional investors.

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.