Xenon Pharmaceuticals Inc. (NASDAQ:XENE) Receives $59.44 Average PT from Analysts

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) has earned an average recommendation of “Buy” from the nine analysts that are currently covering the company, Marketbeat Ratings reports. Nine research analysts have rated the stock with a buy recommendation. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $59.44.

Several analysts have commented on the company. Wedbush increased their target price on Xenon Pharmaceuticals from $46.00 to $51.00 and gave the company an “outperform” rating in a research note on Friday, March 1st. Bank of America raised their price target on Xenon Pharmaceuticals from $52.00 to $56.00 and gave the stock a “buy” rating in a research note on Tuesday, January 2nd. Citigroup started coverage on Xenon Pharmaceuticals in a research note on Thursday, January 4th. They issued a “buy” rating and a $62.00 price target on the stock. Royal Bank of Canada dropped their price target on Xenon Pharmaceuticals from $56.00 to $55.00 and set an “outperform” rating on the stock in a research note on Friday, March 1st. Finally, Needham & Company LLC restated a “buy” rating and issued a $62.00 price target on shares of Xenon Pharmaceuticals in a research note on Friday, April 12th.

Insider Buying and Selling

In related news, Director Steven Gannon sold 13,000 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $46.28, for a total value of $601,640.00. Following the transaction, the director now directly owns 2,000 shares of the company’s stock, valued at approximately $92,560. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, EVP Sherrington Robin sold 7,137 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $46.28, for a total value of $330,300.36. Following the transaction, the executive vice president now directly owns 8,398 shares of the company’s stock, valued at approximately $388,659.44. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Steven Gannon sold 13,000 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $46.28, for a total value of $601,640.00. Following the sale, the director now directly owns 2,000 shares in the company, valued at $92,560. The disclosure for this sale can be found here. 5.43% of the stock is owned by insiders.

Institutional Investors Weigh In On Xenon Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the business. Walleye Capital LLC raised its holdings in Xenon Pharmaceuticals by 40.5% during the third quarter. Walleye Capital LLC now owns 126,028 shares of the biopharmaceutical company’s stock valued at $4,305,000 after acquiring an additional 36,324 shares during the period. Wellington Management Group LLP raised its holdings in Xenon Pharmaceuticals by 64.4% during the third quarter. Wellington Management Group LLP now owns 1,728,108 shares of the biopharmaceutical company’s stock valued at $59,032,000 after acquiring an additional 677,057 shares during the period. TimesSquare Capital Management LLC raised its holdings in Xenon Pharmaceuticals by 38.3% during the third quarter. TimesSquare Capital Management LLC now owns 590,575 shares of the biopharmaceutical company’s stock valued at $20,174,000 after acquiring an additional 163,650 shares during the period. Barclays PLC raised its holdings in Xenon Pharmaceuticals by 3.7% during the third quarter. Barclays PLC now owns 9,521 shares of the biopharmaceutical company’s stock valued at $324,000 after acquiring an additional 342 shares during the period. Finally, Exchange Traded Concepts LLC raised its holdings in Xenon Pharmaceuticals by 22.2% during the third quarter. Exchange Traded Concepts LLC now owns 3,967 shares of the biopharmaceutical company’s stock valued at $136,000 after acquiring an additional 720 shares during the period. 95.45% of the stock is owned by institutional investors.

Xenon Pharmaceuticals Stock Up 0.3 %

XENE stock opened at $40.01 on Tuesday. Xenon Pharmaceuticals has a twelve month low of $27.99 and a twelve month high of $50.99. The firm has a market cap of $3.02 billion, a PE ratio of -14.71 and a beta of 1.15. The business has a 50 day moving average of $44.61 and a 200 day moving average of $40.98.

Xenon Pharmaceuticals (NASDAQ:XENE) last issued its earnings results on Thursday, February 29th. The biopharmaceutical company reported ($0.64) EPS for the quarter, beating the consensus estimate of ($0.76) by $0.12. During the same period in the previous year, the company earned ($0.57) EPS. The company’s revenue for the quarter was up .0% on a year-over-year basis. On average, research analysts expect that Xenon Pharmaceuticals will post -3.04 earnings per share for the current fiscal year.

Xenon Pharmaceuticals Company Profile

Xenon Pharmaceuticals Inc, a clinical-stage biopharmaceutical company, engages in developing therapeutics to treat patients with neurological disorders in Canada. Its clinical development pipeline includes XEN496, a Kv7 potassium channel opener that is Phase III clinical trials for the treatment of KCNQ2 developmental and epileptic encephalopathy; and XEN1101, a Kv7 potassium channel opener, which is in Phase II clinical trial for the treatment of epilepsy and other neurological disorders.