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

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) has been given a consensus recommendation of “Buy” by the twelve research firms that are currently covering the firm, Marketbeat reports. Eleven equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $57.45.

Several research analysts have weighed in on XENE shares. Raymond James reissued an “outperform” rating and set a $50.00 price objective on shares of Xenon Pharmaceuticals in a report on Thursday, October 10th. Royal Bank of Canada reissued an “outperform” rating and issued a $55.00 price objective on shares of Xenon Pharmaceuticals in a report on Tuesday, September 3rd. HC Wainwright started coverage on Xenon Pharmaceuticals in a report on Tuesday, October 1st. They set a “buy” rating and a $53.00 target price on the stock. Needham & Company LLC decreased their target price on Xenon Pharmaceuticals from $62.00 to $60.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Finally, Wedbush dropped their price target on Xenon Pharmaceuticals from $50.00 to $49.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th.

Hedge Funds Weigh In On Xenon Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of XENE. Blue Trust Inc. increased its holdings in shares of Xenon Pharmaceuticals by 174.7% in 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. PNC Financial Services Group Inc. acquired a new stake in shares of Xenon Pharmaceuticals in the fourth quarter valued at approximately $91,000. nVerses Capital LLC acquired a new stake in shares of Xenon Pharmaceuticals in the third quarter valued at approximately $102,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Xenon Pharmaceuticals by 21.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,740 shares of the biopharmaceutical company’s stock valued at $106,000 after buying an additional 487 shares during the last quarter. Finally, Quarry LP boosted its position in shares of Xenon Pharmaceuticals by 207.7% during the second quarter. Quarry LP now owns 4,000 shares of the biopharmaceutical company’s stock worth $156,000 after buying an additional 2,700 shares during the period. Institutional investors and hedge funds own 95.45% of the company’s stock.

Xenon Pharmaceuticals Stock Down 1.6 %

Shares of NASDAQ XENE opened at $45.00 on Friday. The business has a 50 day moving average price of $40.97 and a two-hundred day moving average price of $40.29. Xenon Pharmaceuticals has a fifty-two week low of $27.99 and a fifty-two week high of $50.99. The firm has a market cap of $3.41 billion, a PE ratio of -16.42 and a beta of 1.25.

Xenon Pharmaceuticals (NASDAQ:XENE) last released its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.75) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.05). During the same period last year, the business earned ($0.72) EPS. On average, analysts anticipate that Xenon Pharmaceuticals will post -3.1 earnings per share for the current year.

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.