Brokerages Set Xenon Pharmaceuticals Inc. (NASDAQ:XENE) PT at $56.00

Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) have been assigned an average recommendation of “Buy” from the nine analysts that are currently covering the stock, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $57.38.

A number of analysts recently commented on XENE shares. Needham & Company LLC reiterated a “buy” rating and set a $60.00 price target on shares of Xenon Pharmaceuticals in a report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft started coverage on Xenon Pharmaceuticals in a research note on Tuesday. They set a “buy” rating and a $67.00 target price on the stock. Finally, HC Wainwright restated a “buy” rating and set a $53.00 price target on shares of Xenon Pharmaceuticals in a research report on Thursday, December 12th.

Xenon Pharmaceuticals Stock Performance

Xenon Pharmaceuticals stock opened at $39.50 on Monday. The stock has a market cap of $3.01 billion, a PE ratio of -14.01 and a beta of 1.20. Xenon Pharmaceuticals has a fifty-two week low of $35.53 and a fifty-two week high of $50.99. The firm’s 50-day simple moving average is $39.84 and its 200 day simple moving average is $40.56.

Xenon Pharmaceuticals (NASDAQ:XENE) last announced its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.81) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.82) by $0.01. During the same period in the previous year, the company posted ($0.73) earnings per share. As a group, analysts predict that Xenon Pharmaceuticals will post -3.13 EPS for the current fiscal year.

Insider Buying and Selling at Xenon Pharmaceuticals

In other news, CEO Ian Mortimer sold 22,468 shares of Xenon Pharmaceuticals stock in a transaction on Friday, January 24th. The stock was sold at an average price of $40.20, for a total value of $903,213.60. Following the completion of the transaction, the chief executive officer now directly owns 31,302 shares in the company, valued at approximately $1,258,340.40. The trade was a 41.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gary Patou sold 4,891 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $41.08, for a total value of $200,922.28. Following the sale, the director now owns 23,573 shares in the company, valued at approximately $968,378.84. The trade was a 17.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 62,383 shares of company stock valued at $2,535,891 over the last three months. 5.52% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Xenon Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the company. Blue Trust Inc. increased its holdings in Xenon Pharmaceuticals by 174.7% during the 3rd quarter. Blue Trust Inc. now owns 1,008 shares of the biopharmaceutical company’s stock worth $39,000 after acquiring an additional 641 shares during the period. Avior Wealth Management LLC purchased a new position in shares of Xenon Pharmaceuticals during the 4th quarter valued at $101,000. nVerses Capital LLC bought a new position in shares of Xenon Pharmaceuticals in the third quarter worth $102,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Xenon Pharmaceuticals by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,740 shares of the biopharmaceutical company’s stock worth $106,000 after purchasing an additional 487 shares during the period. Finally, KBC Group NV raised its position in shares of Xenon Pharmaceuticals by 39.8% in the fourth quarter. KBC Group NV now owns 2,742 shares of the biopharmaceutical company’s stock worth $107,000 after buying an additional 780 shares in the last quarter. 95.45% of the stock is owned by hedge funds and other institutional investors.

Xenon Pharmaceuticals Company Profile

Xenon Pharmaceuticals Inc, a neuroscience-focused biopharmaceutical company, engages in the development of therapeutics to treat patients with neurological disorders in Canada. Its clinical development pipeline includes XEN1101, a novel and potent Kv7 potassium channel opener, which is in Phase 3 clinical trials for the treatment of epilepsy and other neurological disorders.