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

Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) have been assigned a consensus recommendation of “Buy” from the twelve ratings firms that are covering the firm, Marketbeat.com reports. Eleven research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $57.45.

Several research firms have recently weighed in on XENE. HC Wainwright reiterated a “buy” rating and issued a $53.00 price objective on shares of Xenon Pharmaceuticals in a research note on Wednesday, November 13th. Needham & Company LLC reiterated a “buy” rating and issued a $60.00 price target on shares of Xenon Pharmaceuticals in a research report on Wednesday, November 13th. Raymond James reissued an “outperform” rating and set a $50.00 price objective on shares of Xenon Pharmaceuticals in a report on Thursday, October 10th. Wedbush lowered their target price on shares of Xenon Pharmaceuticals from $50.00 to $49.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $65.00 target price on shares of Xenon Pharmaceuticals in a research report on Friday, August 9th.

Insider Buying and Selling

In related news, Director Gary Patou sold 4,891 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $41.08, for a total transaction of $200,922.28. Following the completion of the sale, the director now directly owns 23,573 shares of the company’s stock, valued at $968,378.84. The trade was a 17.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 5.52% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in XENE. Vanguard Group Inc. increased its stake in shares of Xenon Pharmaceuticals by 3.8% in the 1st quarter. Vanguard Group Inc. now owns 335,635 shares of the biopharmaceutical company’s stock valued at $14,449,000 after acquiring an additional 12,140 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its stake in Xenon Pharmaceuticals by 87.8% in the first quarter. CANADA LIFE ASSURANCE Co now owns 10,032 shares of the biopharmaceutical company’s stock valued at $432,000 after purchasing an additional 4,691 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in Xenon Pharmaceuticals by 31.7% in the first quarter. Advisors Asset Management Inc. now owns 13,717 shares of the biopharmaceutical company’s stock worth $591,000 after purchasing an additional 3,301 shares during the period. Bayesian Capital Management LP bought a new position in shares of Xenon Pharmaceuticals during the first quarter worth $418,000. Finally, California State Teachers Retirement System grew its holdings in shares of Xenon Pharmaceuticals by 0.9% in the 1st quarter. California State Teachers Retirement System now owns 56,477 shares of the biopharmaceutical company’s stock valued at $2,431,000 after buying an additional 490 shares during the period. Institutional investors and hedge funds own 95.45% of the company’s stock.

Xenon Pharmaceuticals Price Performance

Shares of XENE stock opened at $42.63 on Wednesday. Xenon Pharmaceuticals has a one year low of $35.18 and a one year high of $50.99. The stock has a fifty day moving average price of $41.47 and a 200 day moving average price of $40.25. The stock has a market cap of $3.25 billion, a P/E ratio of -15.12 and a beta of 1.25.

Xenon Pharmaceuticals (NASDAQ:XENE) last issued its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.81) earnings per share for the quarter, beating the consensus estimate of ($0.82) by $0.01. During the same quarter last year, the business earned ($0.73) EPS. Equities research analysts anticipate that Xenon Pharmaceuticals will post -3.1 EPS for the current year.

Xenon Pharmaceuticals Company Profile

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.