Brokerages Set Xenon Pharmaceuticals Inc. (NASDAQ:XENE) Price Target at $59.44

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) has received an average recommendation of “Buy” from the nine ratings firms that are currently covering the firm, MarketBeat Ratings reports. Nine analysts have rated the stock with a buy rating. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $59.44.

Several brokerages recently issued reports on XENE. Citigroup started coverage on Xenon Pharmaceuticals in a report on Thursday, January 4th. They set a “buy” rating and a $62.00 price objective for the company. Bank of America raised their price target on Xenon Pharmaceuticals from $52.00 to $56.00 and gave the stock a “buy” rating in a research note on Tuesday, January 2nd. Cantor Fitzgerald reissued an “overweight” rating and issued a $65.00 price target on shares of Xenon Pharmaceuticals in a research note on Wednesday, April 10th. Wedbush raised their price objective on shares of Xenon Pharmaceuticals from $46.00 to $51.00 and gave the company an “outperform” rating in a research report on Friday, March 1st. Finally, Royal Bank of Canada decreased their target price on shares of Xenon Pharmaceuticals from $56.00 to $55.00 and set an “outperform” rating for the company in a research report on Friday, March 1st.

Insider Transactions at Xenon Pharmaceuticals

In related news, EVP Sherrington Robin sold 7,137 shares of the firm’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $46.28, for a total value of $330,300.36. Following the transaction, the executive vice president now directly owns 8,398 shares in the company, valued at approximately $388,659.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Xenon Pharmaceuticals news, Director Steven Gannon sold 13,000 shares of Xenon Pharmaceuticals stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $46.28, for a total value of $601,640.00. Following the transaction, the director now directly owns 2,000 shares of the company’s stock, valued at approximately $92,560. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Sherrington Robin sold 7,137 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $46.28, for a total value of $330,300.36. Following the completion of the sale, the executive vice president now directly owns 8,398 shares of the company’s stock, valued at $388,659.44. The disclosure for this sale can be found here. 5.43% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Xenon Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BNP Paribas Arbitrage SA grew its position in Xenon Pharmaceuticals by 1,567.5% in the 1st 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 during the last quarter. US Bancorp DE increased its position in shares of Xenon Pharmaceuticals by 260.2% during the fourth quarter. US Bancorp DE now owns 933 shares of the biopharmaceutical company’s stock valued at $43,000 after purchasing an additional 674 shares during the period. Wells Fargo & Company MN lifted its position in Xenon Pharmaceuticals by 124.6% in the fourth quarter. Wells Fargo & Company MN now owns 1,123 shares of the biopharmaceutical company’s stock worth $44,000 after purchasing an additional 623 shares during the period. Tower Research Capital LLC TRC increased its holdings in Xenon Pharmaceuticals by 414.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,014 shares of the biopharmaceutical company’s stock valued at $47,000 after buying an additional 817 shares during the period. Finally, Parallel Advisors LLC increased its holdings in Xenon Pharmaceuticals by 51.2% in the 4th quarter. Parallel Advisors LLC now owns 1,125 shares of the biopharmaceutical company’s stock valued at $52,000 after buying an additional 381 shares during the period. Institutional investors own 95.45% of the company’s stock.

Xenon Pharmaceuticals Trading Down 3.2 %

Shares of NASDAQ XENE opened at $40.31 on Tuesday. The firm has a market capitalization of $3.04 billion, a PE ratio of -14.82 and a beta of 1.15. Xenon Pharmaceuticals has a one year low of $27.99 and a one year high of $50.99. The business has a 50-day moving average price of $45.00 and a two-hundred day moving average price of $40.80.

Xenon Pharmaceuticals (NASDAQ:XENE) last released its quarterly earnings data on Thursday, February 29th. The biopharmaceutical company reported ($0.64) earnings per share for the quarter, beating the consensus estimate of ($0.76) by $0.12. The business’s quarterly revenue was up .0% on a year-over-year basis. During the same quarter last year, the business posted ($0.57) earnings per share. Research analysts anticipate that Xenon Pharmaceuticals will post -3.04 EPS for the current year.

About Xenon Pharmaceuticals

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.