Xenon Pharmaceuticals Inc. (NASDAQ:XENE) Receives Average Recommendation of “Buy” from Brokerages

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) has been given an average recommendation of “Buy” by the nine analysts that are covering the company, Marketbeat reports. Nine analysts have rated the stock with a buy recommendation. The average 1-year target price among brokers that have covered the stock in the last year is $57.38.

XENE has been the subject of a number of recent analyst reports. William Blair reaffirmed an “outperform” rating on shares of Xenon Pharmaceuticals in a research note on Friday, February 28th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Xenon Pharmaceuticals in a research note on Tuesday, February 11th. They set a “buy” rating and a $67.00 price target for the company. HC Wainwright reaffirmed a “buy” rating and set a $53.00 price target on shares of Xenon Pharmaceuticals in a research note on Monday, February 24th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating on shares of Xenon Pharmaceuticals in a research note on Friday, February 28th.

Xenon Pharmaceuticals Stock Down 0.8 %

Shares of NASDAQ:XENE opened at $35.18 on Friday. Xenon Pharmaceuticals has a 52 week low of $29.50 and a 52 week high of $46.00. The stock has a market capitalization of $2.69 billion, a P/E ratio of -12.48 and a beta of 1.26. The firm has a fifty day simple moving average of $38.71 and a two-hundred day simple moving average of $40.10.

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

Insider Activity at Xenon Pharmaceuticals

In other news, CFO Sherry Aulin sold 18,709 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $41.21, for a total value of $770,997.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ian Mortimer sold 16,315 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $40.50, for a total transaction of $660,757.50. Following the completion of the sale, the chief executive officer now directly owns 31,302 shares of the company’s stock, valued at $1,267,731. The trade was a 34.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 57,492 shares of company stock worth $2,334,969 in the last 90 days. 5.52% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Xenon Pharmaceuticals

Several hedge funds have recently modified their holdings of the business. Advisors Asset Management Inc. lifted its position in shares of Xenon Pharmaceuticals by 3.8% in the 3rd quarter. Advisors Asset Management Inc. now owns 13,592 shares of the biopharmaceutical company’s stock worth $535,000 after purchasing an additional 493 shares during the period. Occudo Quantitative Strategies LP increased its stake in Xenon Pharmaceuticals by 5.8% during the 4th quarter. Occudo Quantitative Strategies LP now owns 11,441 shares of the biopharmaceutical company’s stock valued at $448,000 after purchasing an additional 630 shares in the last quarter. Geode Capital Management LLC increased 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 in the last quarter. KBC Group NV increased 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 in the last quarter. Finally, HighVista Strategies LLC increased its stake in Xenon Pharmaceuticals by 1.4% during the 3rd quarter. HighVista Strategies LLC now owns 73,762 shares of the biopharmaceutical company’s stock valued at $2,904,000 after purchasing an additional 1,047 shares in the last quarter. Hedge funds and other institutional investors 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.