Xenon Pharmaceuticals Inc. (NASDAQ:XENE) Receives $57.45 Consensus Price Target from Analysts

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) has been assigned a consensus recommendation of “Buy” from the twelve brokerages that are currently covering the stock, MarketBeat reports. Eleven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $57.45.

A number of equities analysts have issued reports on XENE shares. Royal Bank of Canada reissued an “outperform” rating and set a $55.00 price target on shares of Xenon Pharmaceuticals in a research report on Tuesday, September 3rd. Needham & Company LLC decreased their target price on shares of Xenon Pharmaceuticals from $62.00 to $60.00 and set a “buy” rating for the company in a research report on Monday, August 12th. HC Wainwright started coverage on shares of Xenon Pharmaceuticals in a report on Tuesday, October 1st. They issued a “buy” rating and a $53.00 price target on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $65.00 price objective on shares of Xenon Pharmaceuticals in a research note on Friday, August 9th. Finally, William Blair upgraded Xenon Pharmaceuticals to a “strong-buy” rating in a research note on Friday, August 30th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. boosted its holdings in shares of Xenon Pharmaceuticals by 174.7% during the 3rd quarter. Blue Trust Inc. now owns 1,008 shares of the biopharmaceutical company’s stock worth $39,000 after purchasing an additional 641 shares during the last quarter. PNC Financial Services Group Inc. purchased a new position in Xenon Pharmaceuticals during the fourth quarter worth approximately $91,000. nVerses Capital LLC acquired a new position in Xenon Pharmaceuticals during the third quarter worth $102,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in Xenon Pharmaceuticals by 21.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,740 shares of the biopharmaceutical company’s stock valued at $106,000 after buying an additional 487 shares in the last quarter. Finally, Quarry LP increased its stake in shares of Xenon Pharmaceuticals by 207.7% in the 2nd quarter. Quarry LP now owns 4,000 shares of the biopharmaceutical company’s stock worth $156,000 after acquiring an additional 2,700 shares during the last quarter. 95.45% of the stock is owned by hedge funds and other institutional investors.

Xenon Pharmaceuticals Price Performance

NASDAQ XENE opened at $41.71 on Friday. The stock’s fifty day moving average price is $40.62 and its 200 day moving average price is $40.16. Xenon Pharmaceuticals has a 1 year low of $27.99 and a 1 year high of $50.99. The company has a market cap of $3.16 billion, a price-to-earnings ratio of -15.22 and a beta of 1.25.

Xenon Pharmaceuticals (NASDAQ:XENE) last announced its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.75) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.70) by ($0.05). During the same period in the previous year, the firm posted ($0.72) earnings per share. Research analysts expect that Xenon Pharmaceuticals will post -3.1 earnings per share 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.