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

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) has earned an average recommendation of “Buy” from the nine research firms that are currently covering the company, Marketbeat.com reports. Nine equities research analysts have rated the stock with a buy recommendation. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $57.38.

Several analysts have issued reports on the company. William Blair restated an “outperform” rating on shares of Xenon Pharmaceuticals in a report on Friday, February 28th. HC Wainwright restated a “buy” rating and set a $53.00 price target on shares of Xenon Pharmaceuticals in a research note on Monday, February 24th. Deutsche Bank Aktiengesellschaft initiated coverage on Xenon Pharmaceuticals in a research report on Tuesday, February 11th. They set a “buy” rating and a $67.00 target price for the company. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $60.00 price target on shares of Xenon Pharmaceuticals in a research report on Wednesday, November 13th.

Xenon Pharmaceuticals Trading Up 0.3 %

NASDAQ:XENE opened at $37.28 on Friday. The company has a 50-day moving average of $39.10 and a 200-day moving average of $40.25. The firm has a market cap of $2.85 billion, a price-to-earnings ratio of -13.22 and a beta of 1.26. Xenon Pharmaceuticals has a twelve month low of $33.27 and a twelve month high of $46.87.

Xenon Pharmaceuticals (NASDAQ:XENE) last issued its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.84) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.89) by $0.05. On average, research analysts forecast that Xenon Pharmaceuticals will post -3.1 earnings per share for the current year.

Insider Activity

In other news, CEO Ian Mortimer sold 16,315 shares of the stock in a transaction on Monday, January 27th. The stock was sold at an average price of $40.50, for a total transaction of $660,757.50. Following the sale, the chief executive officer now owns 31,302 shares in the company, valued at approximately $1,267,731. This represents a 34.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Sherry Aulin sold 18,709 shares of the firm’s stock in a transaction 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. In the last quarter, insiders have sold 57,492 shares of company stock worth $2,334,969. Corporate insiders own 5.52% of the company’s stock.

Institutional Investors Weigh In On Xenon Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in XENE. Loomis Sayles & Co. L P raised its stake in shares of Xenon Pharmaceuticals by 7.1% in the third quarter. Loomis Sayles & Co. L P now owns 707,222 shares of the biopharmaceutical company’s stock worth $27,843,000 after acquiring an additional 46,964 shares during the last quarter. Vestal Point Capital LP raised its position in Xenon Pharmaceuticals by 57.1% in 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. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in Xenon Pharmaceuticals by 4.3% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 439,074 shares of the biopharmaceutical company’s stock worth $17,287,000 after buying an additional 17,953 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Xenon Pharmaceuticals by 1,263.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 976,783 shares of the biopharmaceutical company’s stock worth $38,456,000 after buying an additional 905,129 shares in the last quarter. Finally, Barclays PLC boosted its position in Xenon Pharmaceuticals by 1,275.5% in the 3rd quarter. Barclays PLC now owns 14,993 shares of the biopharmaceutical company’s stock valued at $590,000 after buying an additional 13,903 shares during the last quarter. 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.