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

Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) have been given a consensus recommendation of “Buy” by the nine analysts that are covering the stock, Marketbeat reports. Nine analysts have rated the stock with a buy rating. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $59.44.

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

Xenon Pharmaceuticals Stock Up 0.3 %

XENE stock opened at $40.01 on Tuesday. The company’s 50-day simple moving average is $44.61 and its 200-day simple moving average is $40.98. Xenon Pharmaceuticals has a 52-week low of $27.99 and a 52-week high of $50.99. The firm has a market cap of $3.02 billion, a P/E ratio of -14.71 and a beta of 1.15.

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

Insider Buying and Selling at Xenon Pharmaceuticals

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

Institutional Trading of Xenon Pharmaceuticals

A number of hedge funds have recently bought and sold shares of XENE. Tower Research Capital LLC TRC raised its holdings in Xenon Pharmaceuticals by 414.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,014 shares of the biopharmaceutical company’s stock valued at $47,000 after acquiring an additional 817 shares during the last quarter. Parallel Advisors LLC increased its holdings in shares of Xenon Pharmaceuticals by 51.2% during the 4th quarter. Parallel Advisors LLC now owns 1,125 shares of the biopharmaceutical company’s stock worth $52,000 after buying an additional 381 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its holdings in shares of Xenon Pharmaceuticals by 98.2% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,651 shares of the biopharmaceutical company’s stock worth $56,000 after buying an additional 818 shares during the last quarter. PNC Financial Services Group Inc. acquired a new stake in shares of Xenon Pharmaceuticals during the 4th quarter worth approximately $91,000. Finally, 17 Capital Partners LLC acquired a new stake in shares of Xenon Pharmaceuticals during the 1st quarter worth approximately $122,000. Institutional investors and hedge funds own 95.45% of the company’s stock.

About Xenon Pharmaceuticals

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.