Brokerages Set Xenon Pharmaceuticals Inc. (NASDAQ:XENE) Target Price at $52.40

Xenon Pharmaceuticals Inc. (NASDAQ:XENEGet Free Report) has been assigned a consensus recommendation of “Buy” from the eleven brokerages that are presently covering the stock, MarketBeat Ratings reports. Ten research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $52.40.

XENE has been the topic of several research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 target price on shares of Xenon Pharmaceuticals in a research report on Thursday, August 10th. Wedbush reaffirmed an “outperform” rating and issued a $47.00 target price on shares of Xenon Pharmaceuticals in a research report on Thursday, August 10th. StockNews.com initiated coverage on Xenon Pharmaceuticals in a research report on Thursday, August 17th. They issued a “sell” rating on the stock. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $58.00 target price on shares of Xenon Pharmaceuticals in a research report on Tuesday, August 22nd.

Read Our Latest Stock Analysis on Xenon Pharmaceuticals

Xenon Pharmaceuticals Trading Down 1.4 %

NASDAQ:XENE opened at $38.14 on Monday. The firm has a market capitalization of $2.45 billion, a price-to-earnings ratio of -15.32 and a beta of 1.34. Xenon Pharmaceuticals has a 1-year low of $31.79 and a 1-year high of $43.75. The business’s fifty day moving average price is $37.88 and its 200 day moving average price is $38.32.

Xenon Pharmaceuticals (NASDAQ:XENEGet Free Report) last issued its earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($0.72) earnings per share for the quarter, missing the consensus estimate of ($0.69) by ($0.03). During the same period in the prior year, the business earned ($0.55) earnings per share. Xenon Pharmaceuticals’s revenue was down 100.0% on a year-over-year basis. Equities analysts forecast that Xenon Pharmaceuticals will post -2.89 earnings per share for the current year.

Insider Activity at Xenon Pharmaceuticals

In related news, Director Dawn Svoronos sold 25,000 shares of the stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $38.70, for a total transaction of $967,500.00. Following the completion of the sale, the director now owns 25,000 shares in the company, valued at approximately $967,500. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 5.43% of the stock is owned by corporate insiders.

Institutional Trading of Xenon Pharmaceuticals

Hedge funds have recently modified their holdings of the company. Natixis Advisors L.P. lifted its position in shares of Xenon Pharmaceuticals by 1.2% during the 1st quarter. Natixis Advisors L.P. now owns 21,741 shares of the biopharmaceutical company’s stock worth $778,000 after buying an additional 249 shares during the period. California State Teachers Retirement System lifted its position in shares of Xenon Pharmaceuticals by 0.8% during the 3rd quarter. California State Teachers Retirement System now owns 39,347 shares of the biopharmaceutical company’s stock worth $1,420,000 after buying an additional 316 shares during the period. Stifel Financial Corp lifted its position in shares of Xenon Pharmaceuticals by 3.6% during the 1st quarter. Stifel Financial Corp now owns 10,304 shares of the biopharmaceutical company’s stock worth $369,000 after buying an additional 360 shares during the period. BNP Paribas Arbitrage SNC lifted its position in shares of Xenon Pharmaceuticals by 40.2% during the 2nd quarter. BNP Paribas Arbitrage SNC now owns 1,441 shares of the biopharmaceutical company’s stock worth $55,000 after buying an additional 413 shares during the period. Finally, Arizona State Retirement System lifted its position in shares of Xenon Pharmaceuticals by 3.1% during the 1st quarter. Arizona State Retirement System now owns 13,591 shares of the biopharmaceutical company’s stock worth $486,000 after buying an additional 414 shares during the period. Institutional investors own 95.70% of the company’s stock.

Xenon Pharmaceuticals Company Profile

(Get Free Report

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.

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Analyst Recommendations for Xenon Pharmaceuticals (NASDAQ:XENE)

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