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

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) has been given a consensus recommendation of “Buy” by the fourteen analysts that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, eleven have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $54.8182.

Several brokerages have issued reports on XENE. Chardan Capital raised Xenon Pharmaceuticals to a “strong-buy” rating in a research note on Wednesday, November 19th. Royal Bank Of Canada raised their price objective on Xenon Pharmaceuticals from $55.00 to $58.00 and gave the company an “outperform” rating in a report on Tuesday, November 4th. Needham & Company LLC restated a “buy” rating and issued a $55.00 target price on shares of Xenon Pharmaceuticals in a research report on Tuesday, November 4th. JPMorgan Chase & Co. increased their price target on shares of Xenon Pharmaceuticals from $60.00 to $62.00 and gave the company an “overweight” rating in a research report on Friday, January 9th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Xenon Pharmaceuticals in a research note on Friday, January 9th.

Insider Activity at Xenon Pharmaceuticals

In related news, CEO Ian Mortimer sold 40,000 shares of Xenon Pharmaceuticals stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $44.43, for a total value of $1,777,200.00. Following the transaction, the chief executive officer owned 6,000 shares in the company, valued at $266,580. This trade represents a 86.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders have sold 65,302 shares of company stock worth $2,924,128. 4.07% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of XENE. Wellington Management Group LLP lifted its stake in shares of Xenon Pharmaceuticals by 66.0% in the 3rd quarter. Wellington Management Group LLP now owns 3,609,857 shares of the biopharmaceutical company’s stock valued at $144,936,000 after acquiring an additional 1,435,096 shares during the last quarter. Braidwell LP increased its stake in Xenon Pharmaceuticals by 33.0% in the 2nd quarter. Braidwell LP now owns 3,605,029 shares of the biopharmaceutical company’s stock worth $112,837,000 after purchasing an additional 895,154 shares during the period. Commodore Capital LP increased its stake in Xenon Pharmaceuticals by 30.1% in the 2nd quarter. Commodore Capital LP now owns 3,025,000 shares of the biopharmaceutical company’s stock worth $94,682,000 after purchasing an additional 700,000 shares during the period. Vestal Point Capital LP lifted its position in Xenon Pharmaceuticals by 53.8% in the second quarter. Vestal Point Capital LP now owns 2,000,000 shares of the biopharmaceutical company’s stock valued at $62,600,000 after purchasing an additional 700,000 shares during the last quarter. Finally, Holocene Advisors LP boosted its stake in shares of Xenon Pharmaceuticals by 9.2% during the third quarter. Holocene Advisors LP now owns 1,976,553 shares of the biopharmaceutical company’s stock valued at $79,359,000 after purchasing an additional 167,078 shares during the period. 95.45% of the stock is owned by institutional investors.

Xenon Pharmaceuticals Price Performance

XENE stock opened at $41.01 on Monday. Xenon Pharmaceuticals has a one year low of $26.74 and a one year high of $46.60. The stock has a market cap of $3.17 billion, a PE ratio of -10.54 and a beta of 0.96. The firm has a 50 day simple moving average of $43.04 and a two-hundred day simple moving average of $39.66.

Xenon Pharmaceuticals (NASDAQ:XENE) last posted its quarterly earnings data on Monday, November 3rd. The biopharmaceutical company reported ($1.15) earnings per share for the quarter, beating the consensus estimate of ($1.16) by $0.01. During the same quarter in the previous year, the firm posted ($0.81) EPS. The business’s revenue for the quarter was up .0% on a year-over-year basis. On average, research analysts expect that Xenon Pharmaceuticals will post -3.1 EPS for the current fiscal year.

About Xenon Pharmaceuticals

Xenon Pharmaceuticals Inc is a clinical?stage biopharmaceutical company dedicated to discovering and developing novel, small?molecule drugs targeting ion channels in the central and peripheral nervous system. The company’s research focus centers on neurological and pain disorders—including epilepsy, migraine, and neuropathic pain—by modulating key ion?channel proteins to restore normal neuronal function. Xenon’s scientific platform draws upon advances in ion?channel biology and structure?based drug design to identify and optimize therapeutic candidates with the potential for improved safety and efficacy profiles compared with existing treatments.

The company’s pipeline comprises multiple preclinical and clinical programs.