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

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) has received a consensus recommendation of “Buy” from the twelve analysts that are covering the firm, Marketbeat reports. Eleven 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 a report on the stock in the last year is $57.45.

Several research analysts have commented on XENE shares. Royal Bank of Canada reissued an “outperform” rating and set a $55.00 price objective on shares of Xenon Pharmaceuticals in a report on Tuesday, September 3rd. Cantor Fitzgerald reissued an “overweight” rating and set a $65.00 price objective on shares of Xenon Pharmaceuticals in a report on Friday, August 9th. Needham & Company LLC dropped their price objective on shares of Xenon Pharmaceuticals from $62.00 to $60.00 and set a “buy” rating for the company in a report on Monday, August 12th. William Blair raised shares of Xenon Pharmaceuticals to a “strong-buy” rating in a report on Friday, August 30th. Finally, Wedbush lowered their price target on shares of Xenon Pharmaceuticals from $50.00 to $49.00 and set an “outperform” rating for the company in a report on Friday, August 9th.

Xenon Pharmaceuticals Stock Performance

Shares of XENE stock opened at $44.94 on Friday. Xenon Pharmaceuticals has a 52-week low of $27.99 and a 52-week high of $50.99. The firm has a market capitalization of $3.40 billion, a PE ratio of -16.40 and a beta of 1.25. The stock has a fifty day simple moving average of $40.77 and a two-hundred day simple moving average of $40.22.

Xenon Pharmaceuticals (NASDAQ:XENE) last released its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.75) EPS for the quarter, missing the consensus estimate of ($0.70) by ($0.05). During the same quarter last year, the company earned ($0.72) EPS. On average, sell-side analysts forecast that Xenon Pharmaceuticals will post -3.1 EPS for the current fiscal year.

Hedge Funds Weigh In On Xenon Pharmaceuticals

A number of institutional investors have recently modified their holdings of XENE. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in shares of Xenon Pharmaceuticals during the first quarter worth approximately $17,941,000. Affinity Asset Advisors LLC increased its holdings in Xenon Pharmaceuticals by 82.0% during the first quarter. Affinity Asset Advisors LLC now owns 837,387 shares of the biopharmaceutical company’s stock valued at $36,050,000 after buying an additional 377,387 shares during the period. Logos Global Management LP purchased a new position in Xenon Pharmaceuticals during the second quarter valued at approximately $14,621,000. Ikarian Capital LLC increased its holdings in Xenon Pharmaceuticals by 169.6% during the first quarter. Ikarian Capital LLC now owns 107,187 shares of the biopharmaceutical company’s stock valued at $4,614,000 after buying an additional 261,276 shares during the period. Finally, Artal Group S.A. purchased a new position in Xenon Pharmaceuticals during the first quarter valued at approximately $10,908,000. 95.45% of the stock is owned by hedge funds and other 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.