Xenon Pharmaceuticals Inc. (NASDAQ:XENE) Receives $57.38 Consensus Price Target from Brokerages

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) has earned an average rating of “Buy” from the nine ratings firms that are covering the company, MarketBeat Ratings reports. Nine equities research analysts have rated the stock with a buy rating. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $57.38.

Several research analysts have recently weighed in on XENE shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $60.00 price target on shares of Xenon Pharmaceuticals in a report on Wednesday, November 13th. HC Wainwright reiterated a “buy” rating and issued a $53.00 target price on shares of Xenon Pharmaceuticals in a research report on Monday, February 24th. William Blair reiterated an “outperform” rating on shares of Xenon Pharmaceuticals in a research report on Friday, February 28th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Xenon Pharmaceuticals in a research report on Tuesday, February 11th. They issued a “buy” rating and a $67.00 target price for the company.

Xenon Pharmaceuticals Stock Performance

Xenon Pharmaceuticals stock opened at $36.50 on Friday. The stock has a market cap of $2.79 billion, a P/E ratio of -12.94 and a beta of 1.26. Xenon Pharmaceuticals has a fifty-two week low of $33.27 and a fifty-two week high of $46.00. The firm’s fifty day moving average price is $39.06 and its 200-day moving average price is $40.24.

Xenon Pharmaceuticals (NASDAQ:XENE) last released its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.84) earnings per share for the quarter, topping the consensus estimate of ($0.89) by $0.05. Sell-side analysts predict that Xenon Pharmaceuticals will post -3.1 earnings per share for the current year.

Insider Buying and Selling at Xenon Pharmaceuticals

In other Xenon Pharmaceuticals news, CFO Sherry Aulin sold 18,709 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $41.21, for a total transaction of $770,997.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ian Mortimer sold 22,468 shares of the company’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $40.20, for a total transaction of $903,213.60. Following the sale, the chief executive officer now owns 31,302 shares of the company’s stock, valued at approximately $1,258,340.40. The trade was a 41.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 57,492 shares of company stock worth $2,334,969 over the last three months. Company insiders own 5.52% of the company’s stock.

Institutional Trading of Xenon Pharmaceuticals

Institutional investors have recently modified their holdings of the company. GF Fund Management CO. LTD. purchased a new stake in shares of Xenon Pharmaceuticals during the fourth quarter worth about $63,000. Quarry LP purchased a new stake in shares of Xenon Pharmaceuticals during the fourth quarter worth about $78,000. Blue Trust Inc. boosted its holdings in shares of Xenon Pharmaceuticals by 140.3% during the fourth quarter. Blue Trust Inc. now owns 2,422 shares of the biopharmaceutical company’s stock worth $95,000 after purchasing an additional 1,414 shares during the period. Avior Wealth Management LLC purchased a new stake in shares of Xenon Pharmaceuticals during the fourth quarter worth about $101,000. Finally, KBC Group NV boosted its holdings in shares of Xenon Pharmaceuticals by 39.8% during the fourth quarter. KBC Group NV now owns 2,742 shares of the biopharmaceutical company’s stock worth $107,000 after purchasing an additional 780 shares during the period. 95.45% of the stock is currently owned by hedge funds and other institutional investors.

About Xenon Pharmaceuticals

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.