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

Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) have been given a consensus rating of “Buy” by the nine brokerages that are currently covering the stock, MarketBeat.com reports. Eight analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $56.00.

XENE has been the subject of several recent research reports. HC Wainwright reiterated a “buy” rating and issued a $53.00 price target on shares of Xenon Pharmaceuticals in a report on Thursday, December 12th. Raymond James reiterated an “outperform” rating and set a $50.00 target price on shares of Xenon Pharmaceuticals in a report on Thursday, October 10th. Royal Bank of Canada restated an “outperform” rating and issued a $55.00 price target on shares of Xenon Pharmaceuticals in a report on Tuesday, September 3rd. Finally, Needham & Company LLC reiterated a “buy” rating and set a $60.00 price objective on shares of Xenon Pharmaceuticals in a research note on Wednesday, November 13th.

Insider Buying and Selling

In other news, CFO Sherry Aulin sold 18,709 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $41.21, for a total value of $770,997.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gary Patou sold 4,891 shares of the firm’s 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 transaction, 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 disclosure for this sale can be found here. Insiders own 5.52% of the company’s stock.

Institutional Trading of Xenon Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the business. Janus Henderson Group PLC grew its position in shares of Xenon Pharmaceuticals by 144.2% during the 3rd quarter. Janus Henderson Group PLC now owns 2,552,392 shares of the biopharmaceutical company’s stock valued at $100,506,000 after buying an additional 1,507,135 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Xenon Pharmaceuticals by 1,263.2% in the third quarter. JPMorgan Chase & Co. now owns 976,783 shares of the biopharmaceutical company’s stock valued at $38,456,000 after acquiring an additional 905,129 shares during the period. Logos Global Management LP bought a new position in shares of Xenon Pharmaceuticals during the second quarter valued at approximately $14,621,000. Vestal Point Capital LP raised its position in shares of Xenon Pharmaceuticals by 57.1% during 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 period. Finally, Samlyn Capital LLC lifted its holdings in shares of Xenon Pharmaceuticals by 61.5% in the 2nd quarter. Samlyn Capital LLC now owns 639,685 shares of the biopharmaceutical company’s stock worth $24,941,000 after purchasing an additional 243,489 shares during the last quarter. 95.45% of the stock is owned by institutional investors and hedge funds.

Xenon Pharmaceuticals Price Performance

NASDAQ XENE opened at $38.83 on Friday. Xenon Pharmaceuticals has a 1-year low of $35.53 and a 1-year high of $50.99. The firm has a market capitalization of $2.96 billion, a P/E ratio of -13.77 and a beta of 1.19. The business’s 50-day simple moving average is $41.45 and its 200-day simple moving average is $40.50.

Xenon Pharmaceuticals (NASDAQ:XENE) last announced its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.81) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.82) by $0.01. During the same quarter last year, the firm earned ($0.73) EPS. On average, equities research analysts expect that Xenon Pharmaceuticals will post -3.1 EPS for the current fiscal year.

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.