Xenon Pharmaceuticals Inc. (NASDAQ:XENE) Receives $56.00 Consensus Target Price from Analysts

Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) have earned an average recommendation of “Buy” from the eight analysts that are covering the firm, MarketBeat.com reports. Seven 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 brokerages that have covered the stock in the last year is $56.00.

A number of research firms recently weighed in on XENE. Raymond James reaffirmed an “outperform” rating and set a $50.00 price objective on shares of Xenon Pharmaceuticals in a research report on Thursday, October 10th. HC Wainwright restated a “buy” rating and set a $53.00 price target on shares of Xenon Pharmaceuticals in a research note on Thursday, December 12th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Xenon Pharmaceuticals in a research note on Wednesday, November 13th.

Insider Buying and Selling at Xenon Pharmaceuticals

In other Xenon Pharmaceuticals news, CFO Sherry Aulin sold 18,709 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $41.21, for a total value of $770,997.89. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Gary Patou sold 4,891 shares of Xenon Pharmaceuticals stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $41.08, for a total transaction of $200,922.28. Following the sale, the director now directly owns 23,573 shares of the company’s stock, valued at approximately $968,378.84. This trade represents a 17.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.52% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Xenon Pharmaceuticals

Several large investors have recently bought and sold shares of XENE. Envestnet Asset Management Inc. lifted its position in shares of Xenon Pharmaceuticals by 1.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 48,946 shares of the biopharmaceutical company’s stock worth $1,908,000 after buying an additional 769 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Xenon Pharmaceuticals by 6.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 436,460 shares of the biopharmaceutical company’s stock worth $17,011,000 after acquiring an additional 26,253 shares in the last quarter. Renaissance Technologies LLC lifted its position in Xenon Pharmaceuticals by 64.7% in the second quarter. Renaissance Technologies LLC now owns 92,900 shares of the biopharmaceutical company’s stock valued at $3,622,000 after acquiring an additional 36,500 shares during the last quarter. XTX Topco Ltd acquired a new position in Xenon Pharmaceuticals in the second quarter valued at $464,000. Finally, Skandinaviska Enskilda Banken AB publ purchased a new position in shares of Xenon Pharmaceuticals during the second quarter worth about $1,574,000. Hedge funds and other institutional investors own 95.45% of the company’s stock.

Xenon Pharmaceuticals Stock Down 2.8 %

Shares of Xenon Pharmaceuticals stock opened at $38.52 on Thursday. The firm has a market cap of $2.94 billion, a PE ratio of -13.66 and a beta of 1.20. Xenon Pharmaceuticals has a 52 week low of $35.53 and a 52 week high of $50.99. The business’s fifty day simple moving average is $40.48 and its 200-day simple moving average is $40.74.

Xenon Pharmaceuticals (NASDAQ:XENE) last posted its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.81) EPS for the quarter, beating analysts’ consensus estimates of ($0.82) by $0.01. During the same quarter last year, the firm posted ($0.73) earnings per share. As a group, equities analysts expect that Xenon Pharmaceuticals will post -3.13 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.