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

Xenon Pharmaceuticals Inc. (NASDAQ:XENEGet Free Report) has been given an average recommendation of “Buy” by the nine ratings firms that are covering the firm, MarketBeat reports. Nine equities research analysts have rated the stock with a buy recommendation. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $59.11.

A number of research analysts recently weighed in on XENE shares. Cantor Fitzgerald restated an “overweight” rating and set a $65.00 target price on shares of Xenon Pharmaceuticals in a research note on Wednesday, April 10th. Royal Bank of Canada decreased their target price on Xenon Pharmaceuticals from $56.00 to $55.00 and set an “outperform” rating on the stock in a research note on Friday, March 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $62.00 price objective on shares of Xenon Pharmaceuticals in a report on Friday. Citigroup reduced their price target on shares of Xenon Pharmaceuticals from $62.00 to $60.00 and set a “buy” rating on the stock in a report on Friday. Finally, Wedbush dropped their price objective on shares of Xenon Pharmaceuticals from $51.00 to $50.00 and set an “outperform” rating for the company in a report on Friday.

Check Out Our Latest Stock Analysis on Xenon Pharmaceuticals

Insiders Place Their Bets

In related 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 transaction, the director now directly owns 2,000 shares of the company’s stock, valued at $92,560. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Xenon Pharmaceuticals news, EVP Sherrington Robin sold 7,137 shares of the firm’s 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 completion of the transaction, the executive vice president now directly owns 8,398 shares of the company’s stock, valued at approximately $388,659.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Steven Gannon sold 13,000 shares of the company’s stock in a transaction 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 $92,560. The disclosure for this sale can be found here. Insiders own 5.43% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of XENE. Arizona State Retirement System raised its holdings in Xenon Pharmaceuticals by 2.2% in the 3rd quarter. Arizona State Retirement System now owns 14,478 shares of the biopharmaceutical company’s stock valued at $495,000 after buying an additional 313 shares during the period. Barclays PLC grew its position in Xenon Pharmaceuticals by 3.7% in the 3rd quarter. Barclays PLC now owns 9,521 shares of the biopharmaceutical company’s stock valued at $324,000 after acquiring an additional 342 shares in the last quarter. Parallel Advisors LLC lifted its position in shares of Xenon Pharmaceuticals by 51.2% during the fourth quarter. Parallel Advisors LLC now owns 1,125 shares of the biopharmaceutical company’s stock worth $52,000 after purchasing an additional 381 shares in the last quarter. ProShare Advisors LLC grew its holdings in shares of Xenon Pharmaceuticals by 12.0% in the first quarter. ProShare Advisors LLC now owns 5,286 shares of the biopharmaceutical company’s stock valued at $228,000 after purchasing an additional 565 shares in the last quarter. Finally, Alps Advisors Inc. increased its stake in Xenon Pharmaceuticals by 1.3% during the 3rd quarter. Alps Advisors Inc. now owns 47,349 shares of the biopharmaceutical company’s stock worth $1,617,000 after buying an additional 626 shares during the period. Institutional investors and hedge funds own 95.45% of the company’s stock.

Xenon Pharmaceuticals Price Performance

Xenon Pharmaceuticals stock opened at $40.54 on Friday. The business’s fifty day moving average is $42.75 and its 200 day moving average is $41.57. Xenon Pharmaceuticals has a one year low of $27.99 and a one year high of $50.99. The stock has a market capitalization of $3.06 billion, a PE ratio of -14.90 and a beta of 1.19.

Xenon Pharmaceuticals (NASDAQ:XENEGet Free Report) last announced its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.62) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.69) by $0.07. The firm had revenue of $1.00 million during the quarter. During the same quarter last year, the firm earned ($0.63) earnings per share. The business’s revenue was up .0% on a year-over-year basis. As a group, sell-side analysts expect that Xenon Pharmaceuticals will post -3.04 EPS for the current fiscal year.

About Xenon Pharmaceuticals

(Get Free Report

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.

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Analyst Recommendations for Xenon Pharmaceuticals (NASDAQ:XENE)

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