Xenon Pharmaceuticals Inc. (NASDAQ:XENE) Receives $56.00 Average Target Price from Brokerages

Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) have earned an average recommendation of “Buy” from the nine analysts that are currently covering the company, Marketbeat reports. Eight investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $56.00.

Several equities research analysts have commented on the stock. William Blair upgraded shares of Xenon Pharmaceuticals to a “strong-buy” rating in a research report on Friday, August 30th. HC Wainwright reissued a “buy” rating and set a $53.00 price objective on shares of Xenon Pharmaceuticals in a report on Thursday, December 12th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $55.00 target price on shares of Xenon Pharmaceuticals in a report on Tuesday, September 3rd. Raymond James reiterated an “outperform” rating and set a $50.00 price target on shares of Xenon Pharmaceuticals in a research report on Thursday, October 10th. Finally, Needham & Company LLC restated a “buy” rating and issued a $60.00 price target on shares of Xenon Pharmaceuticals in a report on Wednesday, November 13th.

Insider Activity

In related news, Director Gary Patou sold 4,891 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $41.08, for a total transaction of $200,922.28. Following the sale, the director now directly owns 23,573 shares of the company’s stock, valued at approximately $968,378.84. This represents a 17.18 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Sherry Aulin sold 18,709 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $41.21, for a total transaction of $770,997.89. The disclosure for this sale can be found here. Company insiders own 5.52% of the company’s stock.

Hedge Funds Weigh In On Xenon Pharmaceuticals

Several institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. boosted its position in Xenon Pharmaceuticals by 174.7% during the 3rd quarter. Blue Trust Inc. now owns 1,008 shares of the biopharmaceutical company’s stock valued at $39,000 after purchasing an additional 641 shares during the period. nVerses Capital LLC acquired a new stake in Xenon Pharmaceuticals in the third quarter worth $102,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in Xenon Pharmaceuticals by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,740 shares of the biopharmaceutical company’s stock valued at $106,000 after buying an additional 487 shares during the last quarter. Quarry LP boosted its holdings in shares of Xenon Pharmaceuticals by 207.7% during the second quarter. Quarry LP now owns 4,000 shares of the biopharmaceutical company’s stock valued at $156,000 after acquiring an additional 2,700 shares during the period. Finally, Vestcor Inc bought a new position in shares of Xenon Pharmaceuticals during the third quarter worth about $327,000. 95.45% of the stock is owned by institutional investors.

Xenon Pharmaceuticals Trading Up 0.7 %

Shares of XENE opened at $38.42 on Friday. The stock’s 50 day moving average is $41.78 and its two-hundred day moving average is $40.50. Xenon Pharmaceuticals has a twelve month low of $35.53 and a twelve month high of $50.99. The firm has a market capitalization of $2.93 billion, a PE ratio of -13.62 and a beta of 1.19.

Xenon Pharmaceuticals (NASDAQ:XENE) last posted 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 period in the previous year, the company earned ($0.73) earnings per share. On average, sell-side analysts predict that Xenon Pharmaceuticals will post -3.1 EPS for the current 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.