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

Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE – Get Rating) have earned an average recommendation of “Moderate Buy” from the fifteen research firms that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, eleven have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $51.27.

Several research firms have issued reports on XENE. JPMorgan Chase & Co. reissued a “top pick” rating on shares of Xenon Pharmaceuticals in a research note on Tuesday, April 25th. Needham & Company LLC reissued a “buy” rating and set a $50.00 target price on shares of Xenon Pharmaceuticals in a research note on Friday, April 21st. Cantor Fitzgerald began coverage on Xenon Pharmaceuticals in a research note on Tuesday, April 25th. They set an “overweight” rating and a $58.00 target price for the company. StockNews.com began coverage on Xenon Pharmaceuticals in a research note on Thursday, May 18th. They set a “sell” rating for the company. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $51.00 target price on shares of Xenon Pharmaceuticals in a research note on Wednesday, March 22nd.

Insider Activity at Xenon Pharmaceuticals

In related news, CEO Ian Mortimer sold 31,655 shares of Xenon Pharmaceuticals stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $41.41, for a total value of $1,310,833.55. Following the completion of the transaction, the chief executive officer now directly owns 24,213 shares in the company, valued at $1,002,660.33. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Simon N. Pimstone sold 19,232 shares of Xenon Pharmaceuticals stock in a transaction on Tuesday, March 7th. The stock was sold at an average price of $36.98, for a total value of $711,199.36. Following the completion of the transaction, the director now directly owns 34,002 shares in the company, valued at $1,257,393.96. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Ian Mortimer sold 31,655 shares of Xenon Pharmaceuticals stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $41.41, for a total value of $1,310,833.55. Following the sale, the chief executive officer now directly owns 24,213 shares of the company’s stock, valued at $1,002,660.33. The disclosure for this sale can be found here. Over the last three months, insiders sold 51,587 shares of company stock worth $2,046,540. Company insiders own 6.06% of the company’s stock.

Institutional Trading of Xenon Pharmaceuticals

Institutional investors have recently bought and sold shares of the business. Wells Fargo & Company MN lifted its holdings in Xenon Pharmaceuticals by 124.6% during the 4th quarter. Wells Fargo & Company MN now owns 1,123 shares of the biopharmaceutical company’s stock worth $44,000 after buying an additional 623 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of Xenon Pharmaceuticals during the third quarter worth about $46,000. BNP Paribas Arbitrage SA increased its position in shares of Xenon Pharmaceuticals by 1,567.5% during the first quarter. BNP Paribas Arbitrage SA now owns 1,334 shares of the biopharmaceutical company’s stock worth $41,000 after purchasing an additional 1,254 shares in the last quarter. Cubist Systematic Strategies LLC increased its position in shares of Xenon Pharmaceuticals by 1,004.5% during the first quarter. Cubist Systematic Strategies LLC now owns 1,955 shares of the biopharmaceutical company’s stock worth $70,000 after purchasing an additional 1,778 shares in the last quarter. Finally, Advisors Asset Management Inc. acquired a new stake in shares of Xenon Pharmaceuticals during the first quarter worth about $66,000. 92.49% of the stock is owned by hedge funds and other institutional investors.

Xenon Pharmaceuticals Stock Performance

NASDAQ:XENE opened at $40.09 on Friday. Xenon Pharmaceuticals has a one year low of $25.92 and a one year high of $43.57. The stock has a market cap of $2.55 billion, a PE ratio of -17.28 and a beta of 1.41. The stock has a 50 day moving average price of $38.32 and a 200 day moving average price of $37.51.

Xenon Pharmaceuticals (NASDAQ:XENE – Get Rating) last posted its quarterly earnings results on Tuesday, May 9th. The biopharmaceutical company reported ($0.63) EPS for the quarter, missing the consensus estimate of ($0.62) by ($0.01). Xenon Pharmaceuticals had a negative net margin of 862.06% and a negative return on equity of 20.01%. During the same period last year, the firm posted ($0.35) earnings per share. As a group, analysts predict that Xenon Pharmaceuticals will post -2.79 earnings per share for the current fiscal year.

About Xenon Pharmaceuticals

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Xenon Pharmaceuticals, Inc is a clinical stage biopharmaceutical company. It develops therapeutics to improve the lives of patients with neurological disorders, including rare central nervous system (CNS) conditions. The company’s products include XEN496, XEN1101, XEN901 and XEN007. Xenon Pharmaceuticals was founded by Simon Neil Pimstone, Johannes J.