Xenon Pharmaceuticals Inc. (NASDAQ:XENE) Stock Has Average Price Target of $70.14 According to Brokerages

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) has been given a consensus rating of “Moderate Buy” by the fifteen research firms that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, twelve have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $70.14.

Several research firms recently commented on XENE. Wedbush reduced their price target on Xenon Pharmaceuticals from $71.00 to $55.00 and set an “outperform” rating on the stock in a research report on Friday, September 18th. Royal Bank Of Canada reduced their price target on shares of Xenon Pharmaceuticals from $81.00 to $70.00 and set an “outperform” rating on the stock in a research report on Friday, September 18th. Jefferies Financial Group reissued a “buy” rating and set a $90.00 price objective on shares of Xenon Pharmaceuticals in a research report on Monday, September 28th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Xenon Pharmaceuticals in a research note on Friday, October 2nd. Finally, Robert W. Baird dropped their target price on shares of Xenon Pharmaceuticals from $97.00 to $90.00 and set an “outperform” rating on the stock in a report on Friday, September 18th.

Insiders Place Their Bets

In related news, CEO Ian Mortimer purchased 30,000 shares of the stock in a transaction that occurred on Wednesday, September 30th. The stock was bought at an average cost of $37.38 per share, for a total transaction of $1,121,400.00. Following the completion of the transaction, the chief executive officer directly owned 49,923 shares in the company, valued at $1,866,121.74. This represents a 150.58% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Thomas Patrick Kelly purchased 15,000 shares of Xenon Pharmaceuticals stock in a transaction on Wednesday, September 30th. The shares were acquired at an average cost of $37.32 per share, with a total value of $559,800.00. Following the completion of the transaction, the chief financial officer directly owned 15,000 shares in the company, valued at $559,800. The trade was a ∞ increase in their position. The SEC filing for this purchase provides additional information. 2.91% of the stock is owned by company insiders.

Institutional Trading of Xenon Pharmaceuticals

Several large investors have recently modified their holdings of XENE. Covestor Ltd raised its holdings in Xenon Pharmaceuticals by 418.5% during the 3rd quarter. Covestor Ltd now owns 674 shares of the biopharmaceutical company’s stock worth $25,000 after buying an additional 544 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Xenon Pharmaceuticals during the 3rd quarter valued at about $184,000. State of Wyoming purchased a new position in shares of Xenon Pharmaceuticals in the 3rd quarter worth about $251,000. China Universal Asset Management Co. Ltd. boosted its stake in shares of Xenon Pharmaceuticals by 14.9% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 17,670 shares of the biopharmaceutical company’s stock worth $658,000 after acquiring an additional 2,286 shares during the last quarter. Finally, Sterling Capital Management LLC increased its position in shares of Xenon Pharmaceuticals by 838.8% during the 3rd quarter. Sterling Capital Management LLC now owns 3,239 shares of the biopharmaceutical company’s stock valued at $120,000 after purchasing an additional 2,894 shares during the last quarter. 95.45% of the stock is owned by institutional investors.

Xenon Pharmaceuticals Stock Performance

Shares of NASDAQ:XENE opened at $37.41 on Wednesday. Xenon Pharmaceuticals has a one year low of $33.38 and a one year high of $72.66. The firm’s 50 day simple moving average is $45.35 and its 200-day simple moving average is $52.21. The firm has a market cap of $3.62 billion, a PE ratio of -7.89 and a beta of 0.60.

Xenon Pharmaceuticals (NASDAQ:XENE) last posted its quarterly earnings data 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 period in the previous year, the firm earned ($1.07) earnings per share. Equities research analysts predict that Xenon Pharmaceuticals will post -4.66 EPS for the current fiscal year.

Xenon Pharmaceuticals Company Profile

Xenon Pharmaceuticals Inc is a clinical-stage biopharmaceutical company focused on discovering and developing medicines for neurological and psychiatric disorders. The company uses expertise in human genetics and ion-channel biology to identify potential treatments for diseases with significant unmet medical needs, particularly epilepsy and other disorders of the nervous system.

Xenon’s lead investigational product is azetukalner, also known as XEN1101, a selective potassium-channel opener being evaluated for epilepsy and other potential neurological and psychiatric applications.