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

Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) have received a consensus rating of “Buy” from the twelve ratings firms that are covering the firm, Marketbeat.com reports. Twelve research analysts have rated the stock with a buy recommendation. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $54.82.

Several brokerages have commented on XENE. StockNews.com raised shares of Xenon Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday, May 13th. Chardan Capital reaffirmed a “buy” rating and set a $55.00 price target on shares of Xenon Pharmaceuticals in a report on Tuesday, May 13th. Deutsche Bank Aktiengesellschaft assumed coverage on Xenon Pharmaceuticals in a research report on Tuesday, February 11th. They set a “buy” rating and a $67.00 price objective for the company. Wells Fargo & Company cut their target price on Xenon Pharmaceuticals from $50.00 to $47.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 13th. Finally, Royal Bank of Canada lowered their price target on Xenon Pharmaceuticals from $58.00 to $55.00 and set an “outperform” rating for the company in a report on Tuesday, May 13th.

Institutional Investors Weigh In On Xenon Pharmaceuticals

Hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC raised its holdings in Xenon Pharmaceuticals by 72.3% in the 4th quarter. SG Americas Securities LLC now owns 13,293 shares of the biopharmaceutical company’s stock valued at $521,000 after acquiring an additional 5,577 shares during the period. Avior Wealth Management LLC acquired a new stake in Xenon Pharmaceuticals in the fourth quarter valued at approximately $101,000. Blue Trust Inc. raised its holdings in shares of Xenon Pharmaceuticals by 140.3% in the fourth quarter. Blue Trust Inc. now owns 2,422 shares of the biopharmaceutical company’s stock valued at $95,000 after purchasing an additional 1,414 shares during the last quarter. KBC Group NV lifted its stake in Xenon Pharmaceuticals by 39.8% in the fourth quarter. KBC Group NV now owns 2,742 shares of the biopharmaceutical company’s stock valued at $107,000 after purchasing an additional 780 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its holdings in Xenon Pharmaceuticals by 10.9% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 16,166 shares of the biopharmaceutical company’s stock worth $634,000 after purchasing an additional 1,594 shares in the last quarter. 95.45% of the stock is currently owned by institutional investors and hedge funds.

Xenon Pharmaceuticals Stock Performance

NASDAQ:XENE opened at $31.43 on Wednesday. The stock has a market capitalization of $2.41 billion, a P/E ratio of -11.15 and a beta of 1.21. Xenon Pharmaceuticals has a fifty-two week low of $26.74 and a fifty-two week high of $46.00. The company’s 50-day simple moving average is $33.93 and its 200-day simple moving average is $37.79.

Xenon Pharmaceuticals (NASDAQ:XENE) last announced its quarterly earnings results on Monday, May 12th. The biopharmaceutical company reported ($0.83) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.90) by $0.07. The company had revenue of $7.50 million during the quarter, compared to analyst estimates of $1.64 million. During the same period in the previous year, the firm posted ($0.62) earnings per share. On average, research analysts forecast 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.