Xenon Pharmaceuticals Inc. (NASDAQ:XENE) Given Consensus Rating of “Buy” by Brokerages

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) has earned an average recommendation of “Buy” from the seventeen ratings firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, fourteen have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $77.1333.

A number of equities analysts have issued reports on the stock. Wall Street Zen upgraded shares of Xenon Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 1st. Needham & Company LLC decreased their target price on shares of Xenon Pharmaceuticals from $80.00 to $78.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Wells Fargo & Company restated an “overweight” rating and set a $69.00 price target on shares of Xenon Pharmaceuticals in a research note on Sunday, May 10th. HC Wainwright reissued a “buy” rating and issued a $74.00 target price on shares of Xenon Pharmaceuticals in a research note on Monday, August 10th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Xenon Pharmaceuticals from $80.00 to $82.00 and gave the company an “overweight” rating in a research note on Wednesday, May 27th.

Insider Activity at Xenon Pharmaceuticals

In related news, Director Steven Gannon sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $64.06, for a total value of $640,600.00. Following the sale, the director directly owned 1,870 shares in the company, valued at $119,792.20. This trade represents a 84.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gillian Cannon sold 1,190 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $53.14, for a total transaction of $63,236.60. Following the completion of the transaction, the director owned 1,455 shares of the company’s stock, valued at $77,318.70. This trade represents a 44.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 12,512 shares of company stock valued at $774,088. Corporate insiders own 2.91% of the company’s stock.

Hedge Funds Weigh In On Xenon Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in XENE. Bank of New York Mellon Corp increased its stake in Xenon Pharmaceuticals by 2.3% during the 1st quarter. Bank of New York Mellon Corp now owns 396,138 shares of the biopharmaceutical company’s stock worth $23,035,000 after purchasing an additional 8,980 shares in the last quarter. Peregrine Capital Management LLC acquired a new stake in shares of Xenon Pharmaceuticals in the 4th quarter valued at about $7,837,000. Siren L.L.C. lifted its holdings in shares of Xenon Pharmaceuticals by 62.2% in the first quarter. Siren L.L.C. now owns 1,318,564 shares of the biopharmaceutical company’s stock valued at $76,674,000 after purchasing an additional 505,803 shares in the last quarter. Jennison Associates LLC boosted its position in shares of Xenon Pharmaceuticals by 13.8% during the fourth quarter. Jennison Associates LLC now owns 1,292,055 shares of the biopharmaceutical company’s stock worth $57,910,000 after buying an additional 156,820 shares during the period. Finally, Nicholas Investment Partners LP raised its position in Xenon Pharmaceuticals by 104.0% in the 4th quarter. Nicholas Investment Partners LP now owns 242,989 shares of the biopharmaceutical company’s stock valued at $10,891,000 after buying an additional 123,891 shares during the last quarter. Institutional investors and hedge funds own 95.45% of the company’s stock.

Xenon Pharmaceuticals Stock Down 4.2%

Shares of XENE opened at $59.73 on Friday. Xenon Pharmaceuticals has a 52-week low of $35.60 and a 52-week high of $72.66. The company has a market capitalization of $5.77 billion, a price-to-earnings ratio of -12.60 and a beta of 0.62. The stock has a 50 day moving average price of $62.15 and a 200 day moving average price of $55.65.

Xenon Pharmaceuticals (NASDAQ:XENE) last announced its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($1.11) EPS for the quarter, beating analysts’ consensus estimates of ($1.16) by $0.05. During the same quarter last year, the firm earned ($1.07) earnings per share. On average, equities analysts anticipate that Xenon Pharmaceuticals will post -4.73 EPS for the current fiscal year.

About Xenon Pharmaceuticals

Xenon Pharmaceuticals Inc is a clinical‐stage biopharmaceutical company dedicated to discovering and developing novel, small‐molecule drugs targeting ion channels in the central and peripheral nervous system. The company’s research focus centers on neurological and pain disorders—including epilepsy, migraine, and neuropathic pain—by modulating key ion‐channel proteins to restore normal neuronal function. Xenon’s scientific platform draws upon advances in ion‐channel biology and structure‐based drug design to identify and optimize therapeutic candidates with the potential for improved safety and efficacy profiles compared with existing treatments.

The company’s pipeline comprises multiple preclinical and clinical programs.