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

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) has been given a consensus rating of “Buy” by the eleven brokerages that are currently covering the stock, Marketbeat.com reports. Eleven analysts have rated the stock with a buy recommendation. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $53.20.

Several brokerages have issued reports on XENE. Evercore ISI began coverage on shares of Xenon Pharmaceuticals in a research report on Wednesday, May 14th. They set an “outperform” rating and a $55.00 price objective on the stock. Wall Street Zen downgraded shares of Xenon Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday, May 21st. HC Wainwright reissued a “buy” rating and set a $53.00 price objective on shares of Xenon Pharmaceuticals in a research report on Tuesday, May 13th. Royal Bank Of Canada lowered their price objective on shares of Xenon Pharmaceuticals from $57.00 to $55.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 12th. Finally, Wells Fargo & Company lowered their price objective on shares of Xenon Pharmaceuticals from $50.00 to $47.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 13th.

Xenon Pharmaceuticals Price Performance

Shares of NASDAQ:XENE opened at $38.60 on Friday. The company’s fifty day moving average price is $33.69 and its 200 day moving average price is $33.96. Xenon Pharmaceuticals has a 12 month low of $26.74 and a 12 month high of $46.00. The firm has a market capitalization of $2.98 billion, a P/E ratio of -10.87 and a beta of 1.16.

Xenon Pharmaceuticals (NASDAQ:XENE) last announced its quarterly earnings results on Monday, August 11th. The biopharmaceutical company reported ($1.07) EPS for the quarter, missing the consensus estimate of ($1.03) by ($0.04). During the same period in the previous year, the business posted ($0.75) EPS. On average, sell-side analysts anticipate that Xenon Pharmaceuticals will post -3.1 EPS for the current year.

Institutional Trading of Xenon Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in XENE. Farther Finance Advisors LLC purchased a new stake in shares of Xenon Pharmaceuticals in the second quarter valued at about $25,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Xenon Pharmaceuticals in the first quarter valued at about $30,000. Elevation Point Wealth Partners LLC purchased a new stake in shares of Xenon Pharmaceuticals in the second quarter valued at about $32,000. L1 Capital Pty Ltd purchased a new stake in shares of Xenon Pharmaceuticals in the second quarter valued at about $41,000. Finally, GF Fund Management CO. LTD. purchased a new stake in shares of Xenon Pharmaceuticals in the fourth quarter valued at about $63,000. Hedge funds and other institutional investors own 95.45% of the company’s stock.

Xenon Pharmaceuticals Company Profile

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.