Xenon Pharmaceuticals Inc. (NASDAQ:XENE) Receives $54.82 Average Price Target from Analysts

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) has earned a consensus recommendation of “Buy” from the ten analysts that are covering the firm, MarketBeat.com reports. Ten investment analysts have rated the stock with a buy recommendation. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $54.3333.

A number of equities research analysts have recently weighed in on XENE shares. HC Wainwright reaffirmed a “buy” rating and set a $53.00 price target on shares of Xenon Pharmaceuticals in a research note on Tuesday, May 13th. Royal Bank Of Canada cut their price objective on Xenon Pharmaceuticals from $58.00 to $55.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 13th. William Blair reissued an “outperform” rating on shares of Xenon Pharmaceuticals in a research note on Monday, May 5th. Wall Street Zen downgraded Xenon Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Wednesday, May 21st. Finally, The Goldman Sachs Group cut their price objective on Xenon Pharmaceuticals from $60.00 to $52.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th.

Xenon Pharmaceuticals Price Performance

XENE opened at $33.43 on Monday. Xenon Pharmaceuticals has a fifty-two week low of $26.74 and a fifty-two week high of $46.00. The business has a 50-day moving average of $31.98 and a 200-day moving average of $34.17. The company has a market capitalization of $2.57 billion, a PE ratio of -10.35 and a beta of 1.16.

Xenon Pharmaceuticals (NASDAQ:XENE) last posted its quarterly earnings results on Monday, May 12th. The biopharmaceutical company reported ($0.83) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.90) by $0.07. The firm had revenue of $7.50 million for the quarter, compared to analysts’ expectations of $1.64 million. During the same period last year, the business earned ($0.62) earnings per share. On average, equities research analysts expect that Xenon Pharmaceuticals will post -3.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in XENE. FMR LLC grew its holdings in shares of Xenon Pharmaceuticals by 8.8% during the 4th quarter. FMR LLC now owns 7,525,290 shares of the biopharmaceutical company’s stock worth $294,991,000 after purchasing an additional 607,606 shares in the last quarter. Driehaus Capital Management LLC grew its holdings in shares of Xenon Pharmaceuticals by 1.4% during the 1st quarter. Driehaus Capital Management LLC now owns 4,584,859 shares of the biopharmaceutical company’s stock worth $153,822,000 after purchasing an additional 64,264 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Xenon Pharmaceuticals by 0.3% during the 1st quarter. Wellington Management Group LLP now owns 3,789,197 shares of the biopharmaceutical company’s stock worth $127,128,000 after purchasing an additional 11,586 shares in the last quarter. Braidwell LP lifted its stake in Xenon Pharmaceuticals by 7.6% during the fourth quarter. Braidwell LP now owns 2,913,964 shares of the biopharmaceutical company’s stock worth $114,227,000 after purchasing an additional 206,709 shares during the period. Finally, Janus Henderson Group PLC boosted its stake in Xenon Pharmaceuticals by 12.3% in the 4th quarter. Janus Henderson Group PLC now owns 2,866,755 shares of the biopharmaceutical company’s stock valued at $112,425,000 after buying an additional 314,363 shares in the last quarter. 95.45% of the stock is owned by institutional investors.

Xenon Pharmaceuticals Company Profile

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.