Xenon Pharmaceuticals Inc. (NASDAQ:XENE) Given Average Rating of “Moderate Buy” by Brokerages

Xenon Pharmaceuticals Inc. (NASDAQ:XENEGet Rating) has earned an average recommendation of “Moderate Buy” from the ten brokerages that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation and seven have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $47.43.

XENE has been the subject of a number of research analyst reports. Bank of America initiated coverage on shares of Xenon Pharmaceuticals in a research note on Monday, August 29th. They issued a “buy” rating and a $45.00 target price for the company. Wedbush increased their price objective on shares of Xenon Pharmaceuticals from $41.00 to $50.00 in a research note on Wednesday, August 10th. StockNews.com downgraded shares of Xenon Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Wednesday, September 7th. JPMorgan Chase & Co. assumed coverage on shares of Xenon Pharmaceuticals in a research note on Thursday, July 21st. They set an “overweight” rating and a $55.00 price objective for the company. Finally, SVB Leerink increased their price objective on shares of Xenon Pharmaceuticals from $40.00 to $46.00 and gave the stock an “outperform” rating in a research note on Thursday, August 11th.

Xenon Pharmaceuticals Trading Down 5.1 %

Shares of NASDAQ XENE opened at $37.31 on Monday. The firm has a market cap of $2.32 billion, a PE ratio of -20.39 and a beta of 1.47. Xenon Pharmaceuticals has a 1-year low of $14.65 and a 1-year high of $41.39. The company has a fifty day moving average price of $36.25 and a 200 day moving average price of $32.45.

Xenon Pharmaceuticals (NASDAQ:XENEGet Rating) last announced its earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($0.55) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.06). The company had revenue of $0.54 million during the quarter, compared to analyst estimates of $3.25 million. Xenon Pharmaceuticals had a negative return on equity of 17.33% and a negative net margin of 432.24%. Xenon Pharmaceuticals’s revenue for the quarter was down 75.8% on a year-over-year basis. During the same period in the previous year, the company posted ($0.51) earnings per share. Equities research analysts forecast that Xenon Pharmaceuticals will post -2.05 EPS for the current year.

Insider Buying and Selling at Xenon Pharmaceuticals

In other news, Director Simon N. Pimstone sold 33,942 shares of the firm’s stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $37.76, for a total transaction of $1,281,649.92. Following the transaction, the director now directly owns 58,058 shares of the company’s stock, valued at $2,192,270.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Simon N. Pimstone sold 91,135 shares of the firm’s stock in a transaction that occurred on Friday, August 12th. The shares were sold at an average price of $38.28, for a total transaction of $3,488,647.80. Following the transaction, the director now directly owns 92,000 shares of the company’s stock, valued at $3,521,760. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Simon N. Pimstone sold 33,942 shares of the firm’s stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $37.76, for a total transaction of $1,281,649.92. Following the transaction, the director now directly owns 58,058 shares in the company, valued at $2,192,270.08. The disclosure for this sale can be found here. Insiders have sold a total of 182,820 shares of company stock valued at $6,982,432 in the last three months. 6.06% of the stock is currently owned by company insiders.

Institutional Trading of Xenon Pharmaceuticals

Several large investors have recently made changes to their positions in XENE. BNP Paribas Arbitrage SA boosted its position in shares of Xenon Pharmaceuticals by 1,567.5% during the 1st quarter. BNP Paribas Arbitrage SA now owns 1,334 shares of the biopharmaceutical company’s stock worth $41,000 after acquiring an additional 1,254 shares in the last quarter. Advisors Asset Management Inc. acquired a new stake in shares of Xenon Pharmaceuticals during the 1st quarter worth approximately $66,000. UBS Group AG boosted its position in shares of Xenon Pharmaceuticals by 102.1% during the 2nd quarter. UBS Group AG now owns 2,472 shares of the biopharmaceutical company’s stock worth $76,000 after acquiring an additional 1,249 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Xenon Pharmaceuticals by 33.4% during the 1st quarter. JPMorgan Chase & Co. now owns 6,371 shares of the biopharmaceutical company’s stock worth $194,000 after acquiring an additional 1,596 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Xenon Pharmaceuticals during the 2nd quarter worth approximately $223,000. Institutional investors and hedge funds own 91.64% of the company’s stock.

Xenon Pharmaceuticals Company Profile

(Get Rating)

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 epilepsy encephalopathy; and XEN1101, A Kv7 potassium channel opener, which is in Phase II clinical trial for the treatment of epilepsy and other neurological disorders.

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