Xenon Pharmaceuticals Inc. (NASDAQ:XENE) Receives $59.11 Average PT from Analysts

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) has been given a consensus recommendation of “Buy” by the nine ratings firms that are covering the stock, MarketBeat.com reports. Nine equities research analysts have rated the stock with a buy rating. The average 12-month target price among brokerages that have covered the stock in the last year is $59.11.

XENE has been the topic of a number of analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $65.00 price objective on shares of Xenon Pharmaceuticals in a research note on Wednesday, April 10th. Citigroup reduced their price target on shares of Xenon Pharmaceuticals from $62.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, May 10th. Wedbush lowered their price objective on Xenon Pharmaceuticals from $51.00 to $50.00 and set an “outperform” rating on the stock in a research report on Friday, May 10th. Royal Bank of Canada restated an “outperform” rating and set a $55.00 target price on shares of Xenon Pharmaceuticals in a research report on Tuesday, June 18th. Finally, Needham & Company LLC reissued a “buy” rating and set a $62.00 price objective on shares of Xenon Pharmaceuticals in a report on Friday, May 10th.

Xenon Pharmaceuticals Trading Down 3.0 %

Shares of NASDAQ XENE opened at $36.56 on Friday. The firm has a market cap of $2.76 billion, a price-to-earnings ratio of -13.49 and a beta of 1.26. The stock has a fifty day simple moving average of $39.19 and a two-hundred day simple moving average of $42.93. Xenon Pharmaceuticals has a 1-year low of $27.99 and a 1-year high of $50.99.

Xenon Pharmaceuticals (NASDAQ:XENE) last announced its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($0.62) earnings per share for the quarter, topping the consensus estimate of ($0.69) by $0.07. The firm had revenue of $1.00 million during the quarter. The business’s revenue was up .0% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.63) earnings per share. Analysts forecast that Xenon Pharmaceuticals will post -2.98 EPS for the current year.

Institutional Investors Weigh In On Xenon Pharmaceuticals

A number of large investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC boosted its stake in Xenon Pharmaceuticals by 414.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,014 shares of the biopharmaceutical company’s stock valued at $47,000 after purchasing an additional 817 shares during the last quarter. Parallel Advisors LLC lifted its stake in Xenon Pharmaceuticals by 51.2% during the 4th quarter. Parallel Advisors LLC now owns 1,125 shares of the biopharmaceutical company’s stock valued at $52,000 after acquiring an additional 381 shares during the period. PNC Financial Services Group Inc. purchased a new stake in shares of Xenon Pharmaceuticals during the 4th quarter valued at about $91,000. 17 Capital Partners LLC bought a new stake in shares of Xenon Pharmaceuticals in the first quarter worth approximately $122,000. Finally, EntryPoint Capital LLC bought a new stake in Xenon Pharmaceuticals in the 1st quarter worth approximately $195,000. Institutional investors own 95.45% of the company’s stock.

Xenon Pharmaceuticals Company Profile

Xenon Pharmaceuticals Inc, a clinical-stage biopharmaceutical company, engages in developing therapeutics to treat patients with neurological disorders in Canada. Its clinical development pipeline includes XEN496, a Kv7 potassium channel opener that is Phase III clinical trials for the treatment of KCNQ2 developmental and epileptic encephalopathy; and XEN1101, a Kv7 potassium channel opener, which is in Phase II clinical trial for the treatment of epilepsy and other neurological disorders.