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

Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) have been given a consensus recommendation of “Buy” by the nine research firms that are presently covering the firm, Marketbeat Ratings reports. Nine analysts have rated the stock with a buy recommendation. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $58.67.

A number of research firms have weighed in on XENE. Robert W. Baird began coverage on shares of Xenon Pharmaceuticals in a research report on Friday, December 8th. They set an “outperform” rating and a $63.00 price objective on the stock. Needham & Company LLC increased their price objective on shares of Xenon Pharmaceuticals from $50.00 to $62.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. JPMorgan Chase & Co. boosted their target price on Xenon Pharmaceuticals from $54.00 to $59.00 and gave the company an “outperform” rating in a research report on Tuesday, December 19th. Bank of America increased their price target on Xenon Pharmaceuticals from $52.00 to $56.00 and gave the stock a “buy” rating in a report on Tuesday, January 2nd. Finally, Wedbush boosted their price objective on Xenon Pharmaceuticals from $46.00 to $51.00 and gave the company an “outperform” rating in a report on Friday, March 1st.

Insider Activity

In related news, Director Steven Gannon sold 13,000 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $46.28, for a total value of $601,640.00. Following the completion of the sale, the director now directly owns 2,000 shares of the company’s stock, valued at $92,560. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Steven Gannon sold 13,000 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $46.28, for a total value of $601,640.00. Following the completion of the sale, the director now owns 2,000 shares in the company, valued at approximately $92,560. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Sherrington Robin sold 7,137 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $46.28, for a total transaction of $330,300.36. Following the transaction, the executive vice president now owns 8,398 shares in the company, valued at $388,659.44. The disclosure for this sale can be found here. Insiders own 5.43% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Walleye Capital LLC boosted its position in Xenon Pharmaceuticals by 40.5% during the third quarter. Walleye Capital LLC now owns 126,028 shares of the biopharmaceutical company’s stock valued at $4,305,000 after purchasing an additional 36,324 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Xenon Pharmaceuticals by 64.4% in the 3rd quarter. Wellington Management Group LLP now owns 1,728,108 shares of the biopharmaceutical company’s stock valued at $59,032,000 after buying an additional 677,057 shares in the last quarter. TimesSquare Capital Management LLC grew its position in shares of Xenon Pharmaceuticals by 38.3% in the 3rd quarter. TimesSquare Capital Management LLC now owns 590,575 shares of the biopharmaceutical company’s stock worth $20,174,000 after buying an additional 163,650 shares during the last quarter. Barclays PLC grew its position in shares of Xenon Pharmaceuticals by 3.7% in the 3rd quarter. Barclays PLC now owns 9,521 shares of the biopharmaceutical company’s stock worth $324,000 after buying an additional 342 shares during the last quarter. Finally, Exchange Traded Concepts LLC raised its stake in shares of Xenon Pharmaceuticals by 22.2% during the 3rd quarter. Exchange Traded Concepts LLC now owns 3,967 shares of the biopharmaceutical company’s stock worth $136,000 after acquiring an additional 720 shares in the last quarter. 95.45% of the stock is owned by institutional investors.

Xenon Pharmaceuticals Trading Up 0.1 %

XENE opened at $43.05 on Friday. The stock has a 50-day moving average of $46.17 and a 200 day moving average of $40.18. Xenon Pharmaceuticals has a 12 month low of $27.99 and a 12 month high of $50.99. The firm has a market cap of $3.25 billion, a P/E ratio of -15.83 and a beta of 1.17.

Xenon Pharmaceuticals (NASDAQ:XENE) last posted its quarterly earnings data on Thursday, February 29th. The biopharmaceutical company reported ($0.64) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.76) by $0.12. The company’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.57) earnings per share. On average, research analysts forecast that Xenon Pharmaceuticals will post -3.04 earnings per share for the current fiscal year.

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.