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

Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) have been assigned a consensus recommendation of “Buy” from the ten analysts that are covering the company, MarketBeat Ratings reports. Nine investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $58.78.

A number of brokerages have recently issued reports on XENE. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $65.00 target price on shares of Xenon Pharmaceuticals in a report on Friday, August 9th. William Blair raised Xenon Pharmaceuticals to a “strong-buy” rating in a research report on Friday, August 30th. Wedbush decreased their target price on Xenon Pharmaceuticals from $50.00 to $49.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Needham & Company LLC cut their price target on Xenon Pharmaceuticals from $62.00 to $60.00 and set a “buy” rating for the company in a report on Monday, August 12th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $55.00 price objective on shares of Xenon Pharmaceuticals in a report on Tuesday, September 3rd.

Xenon Pharmaceuticals Stock Performance

XENE opened at $40.79 on Friday. Xenon Pharmaceuticals has a 52-week low of $27.99 and a 52-week high of $50.99. The firm has a market capitalization of $3.09 billion, a PE ratio of -15.05 and a beta of 1.25. The business’s 50-day simple moving average is $40.86 and its 200 day simple moving average is $40.70.

Xenon Pharmaceuticals (NASDAQ:XENE) last released its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.75) earnings per share for the quarter, missing the consensus estimate of ($0.70) by ($0.05). During the same quarter last year, the company earned ($0.72) EPS. On average, research analysts forecast that Xenon Pharmaceuticals will post -3.16 earnings per share for the current year.

Institutional Trading of Xenon Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of XENE. Swiss National Bank raised its position in shares of Xenon Pharmaceuticals by 10.8% in the fourth quarter. Swiss National Bank now owns 123,800 shares of the biopharmaceutical company’s stock valued at $5,702,000 after buying an additional 12,100 shares in the last quarter. Jump Financial LLC bought a new stake in shares of Xenon Pharmaceuticals during the 4th quarter valued at $1,105,000. Assetmark Inc. grew its holdings in shares of Xenon Pharmaceuticals by 39.9% during the 4th quarter. Assetmark Inc. now owns 9,938 shares of the biopharmaceutical company’s stock worth $458,000 after purchasing an additional 2,835 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Xenon Pharmaceuticals by 70.2% in the fourth quarter. Franklin Resources Inc. now owns 293,825 shares of the biopharmaceutical company’s stock worth $13,534,000 after purchasing an additional 121,213 shares during the period. Finally, Aigen Investment Management LP acquired a new position in Xenon Pharmaceuticals in the fourth quarter valued at about $370,000. Institutional investors and hedge funds own 95.45% of the company’s stock.

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.