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

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) has been given a consensus recommendation of “Buy” by the eight ratings firms that are covering the firm, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $56.00.

Several equities analysts have recently commented on XENE shares. Raymond James restated an “outperform” rating and issued a $50.00 price objective on shares of Xenon Pharmaceuticals in a research report on Thursday, October 10th. HC Wainwright reiterated a “buy” rating and set a $53.00 target price on shares of Xenon Pharmaceuticals in a research report on Thursday, December 12th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $60.00 target price on shares of Xenon Pharmaceuticals in a research report on Wednesday, November 13th.

Xenon Pharmaceuticals Trading Up 0.5 %

NASDAQ XENE opened at $39.19 on Thursday. The stock has a market cap of $2.99 billion, a price-to-earnings ratio of -13.90 and a beta of 1.20. Xenon Pharmaceuticals has a 12 month low of $35.53 and a 12 month high of $50.99. The company’s 50 day moving average is $40.28 and its two-hundred day moving average is $40.80.

Xenon Pharmaceuticals (NASDAQ:XENE) last announced its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported ($0.81) EPS for the quarter, beating the consensus estimate of ($0.82) by $0.01. During the same period in the previous year, the company earned ($0.73) earnings per share. Sell-side analysts forecast that Xenon Pharmaceuticals will post -3.13 EPS for the current year.

Insider Activity at Xenon Pharmaceuticals

In other Xenon Pharmaceuticals news, Director Gary Patou sold 4,891 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $41.08, for a total value of $200,922.28. Following the sale, the director now owns 23,573 shares in the company, valued at $968,378.84. This trade represents a 17.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Sherry Aulin sold 18,709 shares of the stock in a transaction on Wednesday, December 18th. The stock was 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. 5.52% of the stock is currently owned by insiders.

Institutional Trading of Xenon Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Envestnet Asset Management Inc. grew its position in shares of Xenon Pharmaceuticals by 1.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 48,946 shares of the biopharmaceutical company’s stock worth $1,908,000 after buying an additional 769 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Xenon Pharmaceuticals by 6.4% during the second quarter. Dimensional Fund Advisors LP now owns 436,460 shares of the biopharmaceutical company’s stock valued at $17,011,000 after purchasing an additional 26,253 shares in the last quarter. Renaissance Technologies LLC boosted its position in Xenon Pharmaceuticals by 64.7% during the second quarter. Renaissance Technologies LLC now owns 92,900 shares of the biopharmaceutical company’s stock valued at $3,622,000 after purchasing an additional 36,500 shares in the last quarter. XTX Topco Ltd bought a new stake in Xenon Pharmaceuticals during the second quarter valued at about $464,000. Finally, Skandinaviska Enskilda Banken AB publ acquired a new stake in Xenon Pharmaceuticals in the second quarter worth about $1,574,000. 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.