Xenon Pharmaceuticals Inc. (NASDAQ:XENE) Receives $59.11 Consensus PT from Brokerages

Xenon Pharmaceuticals Inc. (NASDAQ:XENEGet Free Report) has been given a consensus recommendation of “Buy” by the nine analysts that are covering the company, MarketBeat.com reports. Nine analysts have rated the stock with a buy rating. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $59.11.

Several research analysts recently commented on XENE shares. Cantor Fitzgerald reissued an “overweight” rating and set a $65.00 price target on shares of Xenon Pharmaceuticals in a research report on Wednesday, April 10th. Needham & Company LLC restated a “buy” rating and issued a $62.00 price objective on shares of Xenon Pharmaceuticals in a research note on Friday, May 10th. Wedbush dropped their price objective on Xenon Pharmaceuticals from $51.00 to $50.00 and set an “outperform” rating on the stock in a research note on Friday, May 10th. Royal Bank of Canada dropped their price objective 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, Citigroup dropped their price objective on Xenon Pharmaceuticals from $62.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday, May 10th.

Check Out Our Latest Analysis on XENE

Xenon Pharmaceuticals Stock Down 1.3 %

XENE stock opened at $39.80 on Friday. The business has a 50-day moving average of $42.30 and a 200-day moving average of $41.81. Xenon Pharmaceuticals has a fifty-two week low of $27.99 and a fifty-two week high of $50.99.

Xenon Pharmaceuticals (NASDAQ:XENEGet Free Report) last issued its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.62) EPS for the quarter, beating the consensus estimate of ($0.69) by $0.07. The company had revenue of $1.00 million for the quarter. During the same period in the previous year, the business earned ($0.63) earnings per share. The business’s revenue was up .0% on a year-over-year basis. On average, equities analysts predict that Xenon Pharmaceuticals will post -2.94 EPS for the current fiscal year.

Insider Transactions at Xenon Pharmaceuticals

In other news, Director Steven Gannon sold 13,000 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $46.28, for a total transaction of $601,640.00. Following the transaction, the director now owns 2,000 shares in the company, valued at $92,560. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Xenon Pharmaceuticals 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 transaction of $330,300.36. Following the transaction, the executive vice president now owns 8,398 shares in the company, valued at approximately $388,659.44. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 owns 2,000 shares in the company, valued at approximately $92,560. The disclosure for this sale can be found here. 5.43% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Xenon Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in the stock. Avoro Capital Advisors LLC increased its stake in Xenon Pharmaceuticals by 15.6% during the 4th quarter. Avoro Capital Advisors LLC now owns 5,666,666 shares of the biopharmaceutical company’s stock worth $261,007,000 after acquiring an additional 766,666 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Xenon Pharmaceuticals by 140.9% in the 4th quarter. Wellington Management Group LLP now owns 4,162,654 shares of the biopharmaceutical company’s stock valued at $191,732,000 after purchasing an additional 2,434,546 shares in the last quarter. Capital World Investors boosted its holdings in shares of Xenon Pharmaceuticals by 17.9% in the 4th quarter. Capital World Investors now owns 2,681,537 shares of the biopharmaceutical company’s stock valued at $123,512,000 after purchasing an additional 406,563 shares in the last quarter. Capital International Investors boosted its holdings in shares of Xenon Pharmaceuticals by 0.8% in the 1st quarter. Capital International Investors now owns 2,475,859 shares of the biopharmaceutical company’s stock valued at $106,586,000 after purchasing an additional 20,176 shares in the last quarter. Finally, Commodore Capital LP boosted its holdings in shares of Xenon Pharmaceuticals by 17.5% in the 4th quarter. Commodore Capital LP now owns 2,167,793 shares of the biopharmaceutical company’s stock valued at $99,849,000 after purchasing an additional 322,793 shares in the last quarter. Institutional investors own 95.45% of the company’s stock.

Xenon Pharmaceuticals Company Profile

(Get Free Report

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.

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Analyst Recommendations for Xenon Pharmaceuticals (NASDAQ:XENE)

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