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

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) has earned a consensus recommendation of “Buy” from the nine brokerages that are presently covering the firm, Marketbeat.com reports. Nine equities research analysts have rated the stock with a buy rating. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $58.67.

A number of research firms have issued reports on XENE. Citigroup initiated coverage on Xenon Pharmaceuticals in a research report on Thursday, January 4th. They issued a “buy” rating and a $62.00 price target on the stock. Bank of America raised their target price on shares of Xenon Pharmaceuticals from $52.00 to $56.00 and gave the company a “buy” rating in a report on Tuesday, January 2nd. Wedbush boosted their price target on shares of Xenon Pharmaceuticals from $46.00 to $51.00 and gave the stock an “outperform” rating in a report on Friday, March 1st. Robert W. Baird began coverage on shares of Xenon Pharmaceuticals in a report on Friday, December 8th. They issued an “outperform” rating and a $63.00 price objective on the stock. Finally, Royal Bank of Canada decreased their price objective on shares of Xenon Pharmaceuticals from $56.00 to $55.00 and set an “outperform” rating for the company in a research report on Friday, March 1st.

Insiders Place Their Bets

In other news, Director Steven Gannon sold 13,000 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $46.28, for a total value of $601,640.00. Following the completion of the sale, the director now directly owns 2,000 shares of the company’s stock, valued at $92,560. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Sherrington Robin sold 7,137 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $46.28, for a total value of $330,300.36. Following the transaction, the executive vice president now owns 8,398 shares of the company’s stock, valued at $388,659.44. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Steven Gannon sold 13,000 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $46.28, for a total value of $601,640.00. Following the sale, the director now owns 2,000 shares of the company’s stock, valued at approximately $92,560. The disclosure for this sale can be found here. 5.43% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Xenon Pharmaceuticals

Several institutional investors have recently bought and sold shares of XENE. JPMorgan Chase & Co. boosted its holdings in shares of Xenon Pharmaceuticals by 33.4% in the first quarter. JPMorgan Chase & Co. now owns 6,371 shares of the biopharmaceutical company’s stock valued at $194,000 after acquiring an additional 1,596 shares in the last quarter. Citigroup Inc. boosted its holdings in Xenon Pharmaceuticals by 4,353.5% in the 1st quarter. Citigroup Inc. now owns 102,475 shares of the biopharmaceutical company’s stock valued at $3,133,000 after purchasing an additional 100,174 shares in the last quarter. BlackRock Inc. increased its position in Xenon Pharmaceuticals by 8.3% during the 1st quarter. BlackRock Inc. now owns 614,957 shares of the biopharmaceutical company’s stock worth $18,801,000 after purchasing an additional 47,385 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Xenon Pharmaceuticals by 0.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 293,729 shares of the biopharmaceutical company’s stock worth $8,979,000 after buying an additional 1,783 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted its holdings in shares of Xenon Pharmaceuticals by 46.2% in the 1st quarter. Allianz Asset Management GmbH now owns 102,185 shares of the biopharmaceutical company’s stock valued at $3,123,000 after buying an additional 32,280 shares during the period. 95.45% of the stock is owned by institutional investors and hedge funds.

Xenon Pharmaceuticals Price Performance

Shares of NASDAQ:XENE opened at $43.05 on Friday. The firm has a market capitalization of $3.25 billion, a PE ratio of -15.83 and a beta of 1.17. Xenon Pharmaceuticals has a 1 year low of $27.99 and a 1 year high of $50.99. The firm’s 50-day moving average is $46.17 and its two-hundred day moving average is $40.18.

Xenon Pharmaceuticals (NASDAQ:XENE) last posted its quarterly earnings data on Thursday, February 29th. The biopharmaceutical company reported ($0.64) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.12. The firm’s quarterly revenue was up .0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.57) EPS. Analysts expect that Xenon Pharmaceuticals will post -3.04 EPS for the current fiscal year.

About Xenon Pharmaceuticals

Xenon Pharmaceuticals Inc, a clinical-stage biopharmaceutical company, engages in developing therapeutics to treat patients with neurological disorders in Canada. Its clinical development pipeline includes XEN496, a Kv7 potassium channel opener that is Phase III clinical trials for the treatment of KCNQ2 developmental and epileptic encephalopathy; and XEN1101, a Kv7 potassium channel opener, which is in Phase II clinical trial for the treatment of epilepsy and other neurological disorders.