Xenon Pharmaceuticals Inc. (NASDAQ:XENE) Receives $53.30 Average PT from Analysts

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) has earned an average rating of “Buy” from the eleven analysts that are presently covering the company, MarketBeat Ratings reports. Eleven research analysts have rated the stock with a buy recommendation. The average 12 month target price among analysts that have covered the stock in the last year is $53.30.

XENE has been the topic of a number of recent analyst reports. Royal Bank Of Canada restated an “outperform” rating and set a $55.00 price target on shares of Xenon Pharmaceuticals in a report on Tuesday, September 2nd. Wells Fargo & Company initiated coverage on shares of Xenon Pharmaceuticals in a report on Wednesday, September 3rd. They set an “overweight” rating and a $48.00 price target on the stock. Wedbush boosted their price target on shares of Xenon Pharmaceuticals from $42.00 to $43.00 and gave the company an “outperform” rating in a report on Tuesday, August 12th. Finally, Chardan Capital restated a “buy” rating and set a $55.00 price target on shares of Xenon Pharmaceuticals in a report on Tuesday, August 12th.

Xenon Pharmaceuticals Price Performance

XENE stock opened at $39.06 on Tuesday. Xenon Pharmaceuticals has a 12 month low of $26.74 and a 12 month high of $46.00. The firm has a market cap of $3.01 billion, a PE ratio of -11.00 and a beta of 1.17. The firm has a 50 day simple moving average of $36.04 and a 200 day simple moving average of $33.93.

Xenon Pharmaceuticals (NASDAQ:XENE) last released its earnings results on Monday, August 11th. The biopharmaceutical company reported ($1.07) EPS for the quarter, missing the consensus estimate of ($1.03) by ($0.04). During the same quarter last year, the business earned ($0.75) EPS. As a group, sell-side analysts expect that Xenon Pharmaceuticals will post -3.1 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. GF Fund Management CO. LTD. boosted its stake in shares of Xenon Pharmaceuticals by 21.9% in the 1st quarter. GF Fund Management CO. LTD. now owns 1,952 shares of the biopharmaceutical company’s stock valued at $65,000 after purchasing an additional 351 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Xenon Pharmaceuticals by 15.7% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,964 shares of the biopharmaceutical company’s stock valued at $93,000 after purchasing an additional 403 shares during the last quarter. Natixis Advisors LLC boosted its stake in shares of Xenon Pharmaceuticals by 1.9% in the 1st quarter. Natixis Advisors LLC now owns 24,010 shares of the biopharmaceutical company’s stock valued at $806,000 after purchasing an additional 456 shares during the last quarter. Farther Finance Advisors LLC bought a new position in shares of Xenon Pharmaceuticals in the 2nd quarter valued at about $25,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of Xenon Pharmaceuticals in the 1st quarter valued at about $30,000. Institutional investors and hedge funds own 95.45% of the company’s stock.

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.