Xenon Pharmaceuticals Inc. (NASDAQ:XENE) Receives $59.44 Consensus PT from Brokerages

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) has been assigned a consensus rating of “Buy” from the nine ratings firms that are currently covering the firm, Marketbeat reports. Nine equities research analysts have rated the stock with a buy recommendation. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $59.44.

A number of equities analysts recently issued reports on the stock. Bank of America upped their price objective on shares of Xenon Pharmaceuticals from $52.00 to $56.00 and gave the stock a “buy” rating in a research report on Tuesday, January 2nd. Royal Bank of Canada cut their price objective on Xenon Pharmaceuticals from $56.00 to $55.00 and set an “outperform” rating on the stock in a report on Friday, March 1st. Needham & Company LLC restated a “buy” rating and set a $62.00 price target on shares of Xenon Pharmaceuticals in a report on Friday, April 12th. Wedbush raised their price objective on shares of Xenon Pharmaceuticals from $46.00 to $51.00 and gave the company an “outperform” rating in a report on Friday, March 1st. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $65.00 price target on shares of Xenon Pharmaceuticals in a report on Wednesday, April 10th.

Insider Buying and Selling

In other Xenon Pharmaceuticals news, Director Steven Gannon sold 13,000 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $46.28, for a total transaction of $601,640.00. Following the sale, the director now owns 2,000 shares of the company’s stock, valued at $92,560. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Xenon Pharmaceuticals news, Director Steven Gannon sold 13,000 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 $601,640.00. Following the transaction, the director now directly owns 2,000 shares of the company’s stock, valued at $92,560. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Sherrington Robin sold 7,137 shares of the 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 in the company, valued at $388,659.44. The disclosure for this sale can be found here. 5.43% of the stock is owned by insiders.

Institutional Investors Weigh In On Xenon Pharmaceuticals

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

Xenon Pharmaceuticals Price Performance

Shares of NASDAQ:XENE opened at $40.31 on Tuesday. Xenon Pharmaceuticals has a 1 year low of $27.99 and a 1 year high of $50.99. The stock has a market capitalization of $3.04 billion, a price-to-earnings ratio of -14.82 and a beta of 1.15. The company’s 50 day simple moving average is $45.00 and its 200 day simple moving average is $40.80.

Xenon Pharmaceuticals (NASDAQ:XENE) last announced its quarterly earnings data on Thursday, February 29th. The biopharmaceutical company reported ($0.64) earnings per share for the quarter, topping the consensus estimate of ($0.76) by $0.12. During the same period in the prior year, the company earned ($0.57) EPS. The company’s quarterly revenue was up .0% compared to the same quarter last year. As a group, analysts anticipate that Xenon Pharmaceuticals will post -3.04 EPS for the current fiscal year.

Xenon Pharmaceuticals Company Profile

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.