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

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) has earned an average rating of “Buy” from the nine analysts that are currently covering the company, Marketbeat reports. Nine analysts have rated the stock with a buy rating. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $57.38.

A number of equities research analysts recently commented on the company. William Blair reaffirmed an “outperform” rating on shares of Xenon Pharmaceuticals in a research note on Friday, February 28th. Needham & Company LLC restated a “buy” rating and set a $60.00 target price on shares of Xenon Pharmaceuticals in a research report on Wednesday, November 13th. HC Wainwright reiterated a “buy” rating and issued a $53.00 price target on shares of Xenon Pharmaceuticals in a research report on Monday, February 24th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Xenon Pharmaceuticals in a report on Tuesday, February 11th. They set a “buy” rating and a $67.00 price objective for the company.

Xenon Pharmaceuticals Trading Up 0.3 %

Shares of NASDAQ XENE opened at $37.28 on Friday. The firm has a market capitalization of $2.85 billion, a PE ratio of -13.22 and a beta of 1.26. The firm’s 50-day moving average is $39.10 and its 200-day moving average is $40.25. Xenon Pharmaceuticals has a 1 year low of $33.27 and a 1 year high of $46.87.

Xenon Pharmaceuticals (NASDAQ:XENE) last released its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.84) EPS for the quarter, topping analysts’ consensus estimates of ($0.89) by $0.05. As a group, equities research analysts anticipate that Xenon Pharmaceuticals will post -3.1 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Xenon Pharmaceuticals news, CEO Ian Mortimer sold 22,468 shares of Xenon Pharmaceuticals stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $40.20, for a total value of $903,213.60. Following the sale, the chief executive officer now owns 31,302 shares of the company’s stock, valued at $1,258,340.40. This trade represents a 41.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Sherry Aulin sold 18,709 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were 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. In the last three months, insiders sold 57,492 shares of company stock valued at $2,334,969. 5.52% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Xenon Pharmaceuticals

Several hedge funds have recently made changes to their positions in the business. Loomis Sayles & Co. L P lifted its position in shares of Xenon Pharmaceuticals by 7.1% in the third quarter. Loomis Sayles & Co. L P now owns 707,222 shares of the biopharmaceutical company’s stock worth $27,843,000 after purchasing an additional 46,964 shares in the last quarter. Vestal Point Capital LP increased its stake in Xenon Pharmaceuticals by 57.1% in the 3rd quarter. Vestal Point Capital LP now owns 825,000 shares of the biopharmaceutical company’s stock valued at $32,480,000 after buying an additional 300,000 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in Xenon Pharmaceuticals by 4.3% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 439,074 shares of the biopharmaceutical company’s stock valued at $17,287,000 after buying an additional 17,953 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Xenon Pharmaceuticals by 1,263.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 976,783 shares of the biopharmaceutical company’s stock worth $38,456,000 after buying an additional 905,129 shares in the last quarter. Finally, Barclays PLC boosted its stake in shares of Xenon Pharmaceuticals by 1,275.5% during the 3rd quarter. Barclays PLC now owns 14,993 shares of the biopharmaceutical company’s stock worth $590,000 after buying an additional 13,903 shares during the last quarter. 95.45% of the stock is owned by institutional investors.

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.