Xenon Pharmaceuticals Inc. (XENE) – What Are Analysts Thinking About This Stock?

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) has been given a consensus recommendation of “Moderate Buy” by the fifteen analysts that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $70.14.

Several brokerages have issued reports on XENE. Guggenheim began coverage on Xenon Pharmaceuticals in a report on Tuesday. They set a “buy” rating and a $73.00 price target for the company. Wedbush dropped their price objective on shares of Xenon Pharmaceuticals from $71.00 to $55.00 and set an “outperform” rating on the stock in a research report on Friday, September 18th. HC Wainwright restated a “buy” rating on shares of Xenon Pharmaceuticals in a research note on Friday, September 18th. Wells Fargo & Company reduced their target price on shares of Xenon Pharmaceuticals from $69.00 to $64.00 and set an “overweight” rating for the company in a report on Friday, September 18th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $90.00 price target on shares of Xenon Pharmaceuticals in a research note on Monday, September 28th.

Xenon Pharmaceuticals Stock Performance

Shares of NASDAQ XENE opened at $36.44 on Friday. The stock has a 50 day moving average price of $53.57 and a 200 day moving average price of $56.38. Xenon Pharmaceuticals has a 52 week low of $35.06 and a 52 week high of $72.66. The stock has a market capitalization of $3.52 billion, a PE ratio of -7.69 and a beta of 0.60.

Xenon Pharmaceuticals (NASDAQ:XENE) last issued its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($1.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.16) by $0.05. During the same quarter last year, the company earned ($1.07) earnings per share. As a group, research analysts forecast that Xenon Pharmaceuticals will post -4.70 EPS for the current year.

Insider Transactions at Xenon Pharmaceuticals

In other news, Director Steven Gannon sold 10,000 shares of Xenon Pharmaceuticals stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $64.06, for a total transaction of $640,600.00. Following the completion of the sale, the director owned 1,870 shares of the company’s stock, valued at approximately $119,792.20. This trade represents a 84.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ian Mortimer bought 30,000 shares of Xenon Pharmaceuticals stock in a transaction dated Wednesday, September 30th. The stock was acquired at an average cost of $37.38 per share, with a total value of $1,121,400.00. Following the transaction, the chief executive officer owned 49,923 shares of the company’s stock, valued at $1,866,121.74. This trade represents a 150.58% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 2.91% of the company’s stock.

Institutional Trading of Xenon Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in Xenon Pharmaceuticals during the 2nd quarter valued at approximately $454,057,000. Avoro Capital Advisors LLC lifted its position in shares of Xenon Pharmaceuticals by 0.5% in the 4th quarter. Avoro Capital Advisors LLC now owns 5,424,444 shares of the biopharmaceutical company’s stock worth $243,124,000 after purchasing an additional 24,444 shares during the period. Jupiter Topco LLC acquired a new position in shares of Xenon Pharmaceuticals in the 2nd quarter worth approximately $252,673,000. Janus Henderson Group PLC boosted its stake in shares of Xenon Pharmaceuticals by 2.3% in the 1st quarter. Janus Henderson Group PLC now owns 4,175,982 shares of the biopharmaceutical company’s stock valued at $242,858,000 after purchasing an additional 91,948 shares during the last quarter. Finally, Capital International Investors increased its position in shares of Xenon Pharmaceuticals by 7.3% during the fourth quarter. Capital International Investors now owns 3,414,959 shares of the biopharmaceutical company’s stock worth $153,058,000 after buying an additional 233,466 shares during the period. Institutional investors and hedge funds own 95.45% of the company’s stock.

Xenon Pharmaceuticals Company Profile

Xenon Pharmaceuticals Inc is a clinical-stage biopharmaceutical company focused on developing medicines for neurological and psychiatric disorders. The company uses research in ion channels and neuronal signaling to identify potential treatments for conditions with significant unmet medical needs.

Xenon’s lead investigational medicine is azetukalner, also known as XEN1101, a selective potassium channel opener being evaluated for epilepsy and major depressive disorder. The company is also advancing additional programs aimed at genetically defined epilepsies and other disorders of the central nervous system.