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

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) has earned a consensus recommendation of “Buy” from the eight analysts that are covering the stock, MarketBeat.com reports. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $56.00.

XENE has been the subject of several analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $60.00 target price on shares of Xenon Pharmaceuticals in a research note on Wednesday, November 13th. HC Wainwright reiterated a “buy” rating and issued a $53.00 price objective on shares of Xenon Pharmaceuticals in a research report on Thursday, December 12th. Finally, Raymond James reissued an “outperform” rating and set a $50.00 target price on shares of Xenon Pharmaceuticals in a research note on Thursday, October 10th.

Xenon Pharmaceuticals Stock Performance

NASDAQ XENE opened at $40.13 on Thursday. Xenon Pharmaceuticals has a fifty-two week low of $35.53 and a fifty-two week high of $50.99. The firm has a market capitalization of $3.06 billion, a P/E ratio of -14.23 and a beta of 1.20. The stock has a 50-day simple moving average of $40.74 and a two-hundred day simple moving average of $40.71.

Xenon Pharmaceuticals (NASDAQ:XENE) last announced its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.81) earnings per share for the quarter, beating the consensus estimate of ($0.82) by $0.01. During the same period in the previous year, the firm earned ($0.73) EPS. As a group, analysts forecast that Xenon Pharmaceuticals will post -3.1 earnings per share for the current year.

Insider Buying and Selling 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 stock was sold at an average price of $41.08, for a total transaction of $200,922.28. Following the completion of the transaction, the director now owns 23,573 shares of the company’s stock, valued at $968,378.84. This represents a 17.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Sherry Aulin sold 18,709 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $41.21, for a total value of $770,997.89. The disclosure for this sale can be found here. Insiders own 5.52% of the company’s stock.

Institutional Investors Weigh In On Xenon Pharmaceuticals

Large investors have recently modified their holdings of the business. Janus Henderson Group PLC boosted its position in Xenon Pharmaceuticals by 144.2% during the third quarter. Janus Henderson Group PLC now owns 2,552,392 shares of the biopharmaceutical company’s stock worth $100,506,000 after acquiring an additional 1,507,135 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Xenon Pharmaceuticals by 1,263.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 976,783 shares of the biopharmaceutical company’s stock worth $38,456,000 after purchasing an additional 905,129 shares in the last quarter. Logos Global Management LP purchased a new position in Xenon Pharmaceuticals in the 2nd quarter worth approximately $14,621,000. Vestal Point Capital LP boosted its holdings in shares of Xenon Pharmaceuticals by 57.1% during the 3rd quarter. Vestal Point Capital LP now owns 825,000 shares of the biopharmaceutical company’s stock worth $32,480,000 after purchasing an additional 300,000 shares during the last quarter. Finally, Samlyn Capital LLC grew its position in shares of Xenon Pharmaceuticals by 61.5% in the second quarter. Samlyn Capital LLC now owns 639,685 shares of the biopharmaceutical company’s stock valued at $24,941,000 after purchasing an additional 243,489 shares in the last quarter. Hedge funds and other institutional investors 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.