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

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) has been assigned an average recommendation of “Buy” from the nine research firms that are currently covering the stock, MarketBeat Ratings reports. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is $57.38.

XENE has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Xenon Pharmaceuticals in a research report on Tuesday, February 11th. They set a “buy” rating and a $67.00 price objective on the stock. HC Wainwright reaffirmed a “buy” rating and set a $53.00 price objective on shares of Xenon Pharmaceuticals in a research report on Thursday, December 12th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $60.00 price objective on shares of Xenon Pharmaceuticals in a research report on Wednesday, November 13th.

Xenon Pharmaceuticals Stock Performance

Shares of XENE opened at $38.91 on Monday. The company’s 50 day moving average price is $39.66 and its 200 day moving average price is $40.48. Xenon Pharmaceuticals has a 52 week low of $35.53 and a 52 week high of $50.99. The company has a market capitalization of $2.97 billion, a PE ratio of -13.80 and a beta of 1.20.

Insiders Place Their Bets

In related news, Director Gary Patou sold 4,891 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $41.08, for a total transaction of $200,922.28. Following the completion of the sale, the director now directly owns 23,573 shares of the company’s stock, valued at approximately $968,378.84. This represents a 17.18 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ian Mortimer sold 22,468 shares of the company’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $40.20, for a total transaction of $903,213.60. Following the sale, the chief executive officer now directly owns 31,302 shares of the company’s stock, valued at approximately $1,258,340.40. This represents a 41.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 62,383 shares of company stock valued at $2,535,891 over the last ninety days. Corporate insiders own 5.52% of the company’s stock.

Institutional Trading of Xenon Pharmaceuticals

Several large investors have recently modified their holdings of XENE. Mirae Asset Global Investments Co. Ltd. raised its stake in Xenon Pharmaceuticals by 21.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,740 shares of the biopharmaceutical company’s stock valued at $106,000 after purchasing an additional 487 shares during the last quarter. Advisors Asset Management Inc. raised its stake in Xenon Pharmaceuticals by 3.8% during the 3rd quarter. Advisors Asset Management Inc. now owns 13,592 shares of the biopharmaceutical company’s stock valued at $535,000 after purchasing an additional 493 shares during the last quarter. Blue Trust Inc. raised its stake in Xenon Pharmaceuticals by 174.7% during the 3rd quarter. Blue Trust Inc. now owns 1,008 shares of the biopharmaceutical company’s stock valued at $39,000 after purchasing an additional 641 shares during the last quarter. Geode Capital Management LLC raised its stake in Xenon Pharmaceuticals by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 69,529 shares of the biopharmaceutical company’s stock valued at $2,726,000 after purchasing an additional 720 shares during the last quarter. Finally, KBC Group NV raised its stake in Xenon Pharmaceuticals by 39.8% during the 4th quarter. KBC Group NV now owns 2,742 shares of the biopharmaceutical company’s stock valued at $107,000 after purchasing an additional 780 shares during the last quarter. 95.45% of the stock is owned by institutional investors.

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.