Xenon Pharmaceuticals Inc. (NASDAQ:XENE) Receives $57.38 Consensus Target Price from Analysts

Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) have received a consensus recommendation of “Buy” from the nine brokerages that are presently covering the company, MarketBeat Ratings reports. Nine investment analysts have rated the stock with a buy rating. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $57.38.

Several equities research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Xenon Pharmaceuticals in a research note on Tuesday, February 11th. They issued a “buy” rating and a $67.00 target price for the company. HC Wainwright reiterated a “buy” rating and issued a $53.00 target price on shares of Xenon Pharmaceuticals in a research note on Monday, February 24th. Needham & Company LLC restated a “buy” rating and set a $60.00 price objective on shares of Xenon Pharmaceuticals in a research report on Wednesday, November 13th. William Blair restated an “outperform” rating on shares of Xenon Pharmaceuticals in a research report on Friday, February 28th. Finally, Royal Bank of Canada restated an “outperform” rating on shares of Xenon Pharmaceuticals in a research report on Friday, February 28th.

Xenon Pharmaceuticals Price Performance

Shares of NASDAQ XENE opened at $34.76 on Friday. Xenon Pharmaceuticals has a fifty-two week low of $33.27 and a fifty-two week high of $46.00. The stock has a market capitalization of $2.66 billion, a price-to-earnings ratio of -12.33 and a beta of 1.26. The business has a 50-day moving average of $38.88 and a 200-day moving average of $40.17.

Xenon Pharmaceuticals (NASDAQ:XENE) last issued its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.84) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.89) by $0.05. On average, sell-side analysts expect that Xenon Pharmaceuticals will post -3.1 EPS for the current year.

Insider Activity

In other news, CEO Ian Mortimer sold 22,468 shares of Xenon Pharmaceuticals stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $40.20, for a total value of $903,213.60. Following the completion of the sale, the chief executive officer now directly owns 31,302 shares in the company, valued at approximately $1,258,340.40. The trade was a 41.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Sherry Aulin sold 18,709 shares of Xenon Pharmaceuticals stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $41.21, for a total transaction of $770,997.89. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 57,492 shares of company stock worth $2,334,969. Corporate insiders own 5.52% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. GF Fund Management CO. LTD. bought a new position in Xenon Pharmaceuticals in the fourth quarter valued at approximately $63,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Xenon Pharmaceuticals by 17.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 191,852 shares of the biopharmaceutical company’s stock valued at $7,521,000 after acquiring an additional 29,169 shares during the last quarter. Woodline Partners LP bought a new position in Xenon Pharmaceuticals in the fourth quarter valued at approximately $1,566,000. Vident Advisory LLC bought a new position in Xenon Pharmaceuticals in the fourth quarter valued at approximately $212,000. Finally, Two Sigma Advisers LP increased its stake in Xenon Pharmaceuticals by 9.1% in the fourth quarter. Two Sigma Advisers LP now owns 298,700 shares of the biopharmaceutical company’s stock valued at $11,709,000 after acquiring an additional 25,000 shares during 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.