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

Xenon Pharmaceuticals Inc (NASDAQ:XENE) has received a consensus rating of “Buy” from the seven ratings firms that are currently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $23.67.

A number of research analysts recently commented on XENE shares. Wedbush started coverage on Xenon Pharmaceuticals in a research note on Tuesday, March 24th. They issued an “outperform” rating and a $23.00 price target for the company. Jefferies Financial Group started coverage on Xenon Pharmaceuticals in a research note on Sunday, May 31st. They issued a “buy” rating and a $23.00 price target for the company. William Blair reaffirmed a “buy” rating on shares of Xenon Pharmaceuticals in a research note on Friday, May 22nd. ValuEngine raised Xenon Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Monday, March 9th. Finally, BidaskClub downgraded Xenon Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, May 29th.

XENE opened at $12.01 on Wednesday. Xenon Pharmaceuticals has a fifty-two week low of $7.00 and a fifty-two week high of $18.45. The company has a market capitalization of $450.82 million, a P/E ratio of -8.96 and a beta of 1.36. The stock has a fifty day moving average of $12.90 and a 200-day moving average of $13.56.

Xenon Pharmaceuticals (NASDAQ:XENE) last posted its earnings results on Thursday, May 21st. The biopharmaceutical company reported ($0.22) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.32) by $0.10. The firm had revenue of $7.08 million for the quarter, compared to analyst estimates of $7.50 million. As a group, sell-side analysts expect that Xenon Pharmaceuticals will post -0.85 EPS for the current year.

In other Xenon Pharmaceuticals news, CEO Simon N. Pimstone sold 3,000 shares of Xenon Pharmaceuticals stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $14.43, for a total value of $43,290.00. Following the transaction, the chief executive officer now owns 258,186 shares in the company, valued at $3,725,623.98. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Simon N. Pimstone sold 5,000 shares of Xenon Pharmaceuticals stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $13.99, for a total value of $69,950.00. Following the completion of the transaction, the chief executive officer now owns 258,186 shares in the company, valued at approximately $3,612,022.14. The disclosure for this sale can be found here. Insiders own 7.20% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. Orbimed Advisors LLC grew its holdings in shares of Xenon Pharmaceuticals by 161.9% during the first quarter. Orbimed Advisors LLC now owns 1,662,812 shares of the biopharmaceutical company’s stock worth $18,856,000 after purchasing an additional 1,028,000 shares during the last quarter. Parkman Healthcare Partners LLC bought a new stake in shares of Xenon Pharmaceuticals during the fourth quarter worth about $7,709,000. Rock Springs Capital Management LP bought a new stake in shares of Xenon Pharmaceuticals during the first quarter worth about $5,670,000. Driehaus Capital Management LLC bought a new stake in shares of Xenon Pharmaceuticals during the first quarter worth about $5,243,000. Finally, Bank of New York Mellon Corp grew its holdings in shares of Xenon Pharmaceuticals by 174.5% during the first quarter. Bank of New York Mellon Corp now owns 675,876 shares of the biopharmaceutical company’s stock worth $7,664,000 after purchasing an additional 429,613 shares during the last quarter. Hedge funds and other institutional investors own 79.24% of the company’s stock.

Xenon Pharmaceuticals Company Profile

Xenon Pharmaceuticals, Inc engages in discovering and developing therapeutics to improve the lives of patients with neurological disorders. It focuses on the treatment of epilepsy. Its products include XEN496, XEN1101, XEN901, and XEN007. The company was founded by Simon Neil Pimstone, Johannes J. P.

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