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

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) has received an average rating of “Buy” from the nine ratings firms that are covering the firm, Marketbeat Ratings reports. Nine investment analysts have rated the stock with a buy recommendation. The average 1-year target price among brokers that have covered the stock in the last year is $59.44.

A number of brokerages have recently issued reports on XENE. JPMorgan Chase & Co. lifted their price objective on shares of Xenon Pharmaceuticals from $54.00 to $59.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 19th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $65.00 price objective on shares of Xenon Pharmaceuticals in a research report on Wednesday, April 10th. Citigroup began coverage on shares of Xenon Pharmaceuticals in a research report on Thursday, January 4th. They issued a “buy” rating and a $62.00 price objective on the stock. Stifel Nicolaus lifted their price objective on shares of Xenon Pharmaceuticals from $53.00 to $62.00 and gave the stock a “buy” rating in a research report on Monday, December 18th. Finally, Royal Bank of Canada cut their price objective on shares of Xenon Pharmaceuticals from $56.00 to $55.00 and set an “outperform” rating on the stock in a research report on Friday, March 1st.

Xenon Pharmaceuticals Stock Performance

NASDAQ XENE opened at $41.31 on Tuesday. The company has a market capitalization of $3.12 billion, a price-to-earnings ratio of -15.19 and a beta of 1.15. The company’s 50-day simple moving average is $45.39 and its two-hundred day simple moving average is $40.74. Xenon Pharmaceuticals has a one year low of $27.99 and a one year high of $50.99.

Xenon Pharmaceuticals (NASDAQ:XENE) last posted its earnings results on Thursday, February 29th. The biopharmaceutical company reported ($0.64) EPS for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.12. The company’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.57) EPS. Equities analysts expect that Xenon Pharmaceuticals will post -3.04 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Xenon Pharmaceuticals news, Director Steven Gannon sold 13,000 shares of Xenon Pharmaceuticals stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $46.28, for a total transaction of $601,640.00. Following the completion of the sale, the director now directly owns 2,000 shares in the company, valued at approximately $92,560. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Xenon Pharmaceuticals news, Director Steven Gannon sold 13,000 shares of Xenon Pharmaceuticals stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $46.28, for a total transaction of $601,640.00. Following the completion of the sale, the director now directly owns 2,000 shares in the company, valued at approximately $92,560. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Sherrington Robin sold 7,137 shares of Xenon Pharmaceuticals stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $46.28, for a total transaction of $330,300.36. Following the sale, the executive vice president now owns 8,398 shares of the company’s stock, valued at $388,659.44. The disclosure for this sale can be found here. 5.43% of the stock is owned by insiders.

Hedge Funds Weigh In On Xenon Pharmaceuticals

Several large investors have recently made changes to their positions in the company. Avoro Capital Advisors LLC lifted its stake in shares of Xenon Pharmaceuticals by 15.6% in the 4th quarter. Avoro Capital Advisors LLC now owns 5,666,666 shares of the biopharmaceutical company’s stock valued at $261,007,000 after purchasing an additional 766,666 shares during the period. Wellington Management Group LLP increased its holdings in Xenon Pharmaceuticals by 140.9% in the 4th quarter. Wellington Management Group LLP now owns 4,162,654 shares of the biopharmaceutical company’s stock worth $191,732,000 after acquiring an additional 2,434,546 shares in the last quarter. Capital World Investors increased its holdings in Xenon Pharmaceuticals by 17.9% in the 4th quarter. Capital World Investors now owns 2,681,537 shares of the biopharmaceutical company’s stock worth $123,512,000 after acquiring an additional 406,563 shares in the last quarter. Capital International Investors increased its holdings in Xenon Pharmaceuticals by 0.4% in the 4th quarter. Capital International Investors now owns 2,455,683 shares of the biopharmaceutical company’s stock worth $113,109,000 after acquiring an additional 8,863 shares in the last quarter. Finally, Commodore Capital LP increased its holdings in Xenon Pharmaceuticals by 17.5% in the 4th quarter. Commodore Capital LP now owns 2,167,793 shares of the biopharmaceutical company’s stock worth $99,849,000 after acquiring an additional 322,793 shares in the last quarter. 95.45% of the stock is currently owned by institutional investors and hedge funds.

Xenon Pharmaceuticals Company Profile

Xenon Pharmaceuticals Inc, a clinical-stage biopharmaceutical company, engages in developing therapeutics to treat patients with neurological disorders in Canada. Its clinical development pipeline includes XEN496, a Kv7 potassium channel opener that is Phase III clinical trials for the treatment of KCNQ2 developmental and epileptic encephalopathy; and XEN1101, a Kv7 potassium channel opener, which is in Phase II clinical trial for the treatment of epilepsy and other neurological disorders.