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

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) has earned a consensus recommendation of “Buy” from the twelve research firms that are presently covering the firm, MarketBeat Ratings reports. Twelve equities research analysts have rated the stock with a buy recommendation. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $54.82.

Several analysts have commented on XENE shares. Chardan Capital restated a “buy” rating and issued a $55.00 price objective on shares of Xenon Pharmaceuticals in a report on Tuesday, May 13th. The Goldman Sachs Group cut their price objective on Xenon Pharmaceuticals from $60.00 to $52.00 and set a “buy” rating for the company in a report on Thursday, April 17th. Wells Fargo & Company cut their price target on Xenon Pharmaceuticals from $50.00 to $47.00 and set an “overweight” rating for the company in a report on Tuesday, May 13th. Needham & Company LLC dropped their target price on shares of Xenon Pharmaceuticals from $60.00 to $55.00 and set a “buy” rating for the company in a report on Tuesday, May 13th. Finally, Wall Street Zen downgraded Xenon Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Wednesday, May 21st.

Institutional Trading of Xenon Pharmaceuticals

Hedge funds have recently modified their holdings of the stock. State of New Jersey Common Pension Fund D increased its position in shares of Xenon Pharmaceuticals by 22.5% during the second quarter. State of New Jersey Common Pension Fund D now owns 61,772 shares of the biopharmaceutical company’s stock worth $1,933,000 after purchasing an additional 11,355 shares in the last quarter. Mutual of America Capital Management LLC grew its stake in shares of Xenon Pharmaceuticals by 96.0% during the 2nd quarter. Mutual of America Capital Management LLC now owns 95,568 shares of the biopharmaceutical company’s stock worth $2,991,000 after purchasing an additional 46,805 shares during the period. Aberdeen Group plc grew its holdings in shares of Xenon Pharmaceuticals by 29.0% in the 2nd quarter. Aberdeen Group plc now owns 521,492 shares of the biopharmaceutical company’s stock worth $16,323,000 after acquiring an additional 117,338 shares during the period. HighMark Wealth Management LLC grew its stake in Xenon Pharmaceuticals by 327.9% in the 2nd quarter. HighMark Wealth Management LLC now owns 26,100 shares of the biopharmaceutical company’s stock valued at $817,000 after acquiring an additional 20,000 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in Xenon Pharmaceuticals by 15.7% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,964 shares of the biopharmaceutical company’s stock valued at $93,000 after buying an additional 403 shares during the last quarter. 95.45% of the stock is currently owned by institutional investors and hedge funds.

Xenon Pharmaceuticals Price Performance

Shares of Xenon Pharmaceuticals stock opened at $30.50 on Monday. The stock has a fifty day moving average price of $31.52 and a 200-day moving average price of $34.27. Xenon Pharmaceuticals has a 1 year low of $26.74 and a 1 year high of $46.00. The firm has a market cap of $2.34 billion, a PE ratio of -9.44 and a beta of 1.16.

Xenon Pharmaceuticals (NASDAQ:XENE) last posted its earnings results on Monday, May 12th. The biopharmaceutical company reported ($0.83) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.90) by $0.07. The company had revenue of $7.50 million for the quarter, compared to analysts’ expectations of $1.64 million. During the same period in the previous year, the firm earned ($0.62) EPS. As a group, equities analysts anticipate that Xenon Pharmaceuticals will post -3.1 EPS for the current fiscal 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.