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

Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) have earned a consensus recommendation of “Buy” from the nine ratings firms that are currently covering the firm, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $56.00.

XENE has been the topic of a number of research reports. Raymond James reiterated an “outperform” rating and issued a $50.00 price target on shares of Xenon Pharmaceuticals in a report on Thursday, October 10th. William Blair raised Xenon Pharmaceuticals to a “strong-buy” rating in a report on Friday, August 30th. HC Wainwright reiterated a “buy” rating and issued a $53.00 target price on shares of Xenon Pharmaceuticals in a research report on Thursday, December 12th. Needham & Company LLC restated a “buy” rating and set a $60.00 price target on shares of Xenon Pharmaceuticals in a report on Wednesday, November 13th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $55.00 price objective on shares of Xenon Pharmaceuticals in a report on Tuesday, September 3rd.

Insider Transactions at Xenon Pharmaceuticals

In related news, CFO Sherry Aulin sold 18,709 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $41.21, for a total value of $770,997.89. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Gary Patou sold 4,891 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $41.08, for a total value of $200,922.28. Following the transaction, the director now owns 23,573 shares of the company’s stock, valued at $968,378.84. This trade represents a 17.18 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.52% of the company’s stock.

Institutional Investors Weigh In On Xenon Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC grew its position in Xenon Pharmaceuticals by 2.2% in the 3rd quarter. FMR LLC now owns 6,917,684 shares of the biopharmaceutical company’s stock valued at $272,349,000 after acquiring an additional 149,511 shares during the last quarter. Driehaus Capital Management LLC boosted its stake in shares of Xenon Pharmaceuticals by 2.3% during the second quarter. Driehaus Capital Management LLC now owns 4,419,472 shares of the biopharmaceutical company’s stock valued at $172,315,000 after purchasing an additional 97,732 shares during the period. Wellington Management Group LLP grew its holdings in shares of Xenon Pharmaceuticals by 0.4% in the third quarter. Wellington Management Group LLP now owns 3,843,447 shares of the biopharmaceutical company’s stock worth $151,317,000 after purchasing an additional 15,226 shares during the last quarter. Braidwell LP grew its holdings in shares of Xenon Pharmaceuticals by 5.7% in the third quarter. Braidwell LP now owns 2,707,255 shares of the biopharmaceutical company’s stock worth $106,585,000 after purchasing an additional 146,682 shares during the last quarter. Finally, Janus Henderson Group PLC increased its stake in Xenon Pharmaceuticals by 144.2% in the 3rd quarter. Janus Henderson Group PLC now owns 2,552,392 shares of the biopharmaceutical company’s stock worth $100,506,000 after buying an additional 1,507,135 shares during the period. 95.45% of the stock is owned by institutional investors.

Xenon Pharmaceuticals Trading Down 0.7 %

NASDAQ:XENE opened at $38.63 on Friday. The stock has a 50-day moving average price of $41.85 and a 200 day moving average price of $40.48. The stock has a market capitalization of $2.95 billion, a P/E ratio of -13.70 and a beta of 1.19. Xenon Pharmaceuticals has a 12-month low of $35.53 and a 12-month high of $50.99.

Xenon Pharmaceuticals (NASDAQ:XENE) last announced its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported ($0.81) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.82) by $0.01. During the same quarter in the previous year, the business earned ($0.73) EPS. On average, research analysts predict that Xenon Pharmaceuticals will post -3.1 earnings per share 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.