Xenon Pharmaceuticals Inc. (NASDAQ:XENE) Stock Rated “Moderate Buy” by Wall Street Analysts

Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) have earned a consensus rating of “Moderate Buy” from the fourteen research firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $71.31.

A number of equities analysts have recently commented on the company. Needham & Company LLC cut their price target on Xenon Pharmaceuticals from $78.00 to $60.00 and set a “buy” rating for the company in a report on Friday, September 18th. Wells Fargo & Company lowered their price objective on shares of Xenon Pharmaceuticals from $69.00 to $64.00 and set an “overweight” rating on the stock in a research report on Friday, September 18th. Deutsche Bank Aktiengesellschaft cut Xenon Pharmaceuticals from a “buy” rating to a “hold” rating and decreased their price objective for the company from $90.00 to $46.00 in a report on Friday, September 18th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $90.00 target price on shares of Xenon Pharmaceuticals in a research note on Monday, September 28th. Finally, Wall Street Zen cut Xenon Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Sunday, October 11th.

Xenon Pharmaceuticals Trading Up 1.6%

Shares of Xenon Pharmaceuticals stock opened at $38.23 on Wednesday. The stock has a fifty day simple moving average of $44.44 and a 200 day simple moving average of $52.18. Xenon Pharmaceuticals has a 12-month low of $33.38 and a 12-month high of $72.66.

Xenon Pharmaceuticals (NASDAQ:XENE) last announced its quarterly earnings data on Thursday, August 6th. The biopharmaceutical company reported ($1.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.16) by $0.05. During the same period in the prior year, the company posted ($1.07) earnings per share. On average, research analysts anticipate that Xenon Pharmaceuticals will post -4.66 earnings per share for the current year.

Insider Transactions at Xenon Pharmaceuticals

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

Institutional Investors Weigh In On Xenon Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the stock. Covestor Ltd boosted its position in shares of Xenon Pharmaceuticals by 418.5% during the third quarter. Covestor Ltd now owns 674 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 544 shares during the last quarter. GAMMA Investing LLC increased its stake in Xenon Pharmaceuticals by 60.2% during the third quarter. GAMMA Investing LLC now owns 830 shares of the biopharmaceutical company’s stock worth $31,000 after acquiring an additional 312 shares during the last quarter. Rockefeller Capital Management L.P. raised its holdings in Xenon Pharmaceuticals by 450.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,100 shares of the biopharmaceutical company’s stock valued at $49,000 after buying an additional 900 shares during the period. Global Retirement Partners LLC bought a new stake in shares of Xenon Pharmaceuticals in the 2nd quarter worth about $53,000. Finally, Quantbot Technologies LP purchased a new stake in shares of Xenon Pharmaceuticals in the second quarter worth approximately $57,000. 95.45% of the stock is currently owned by hedge funds and other institutional investors.

Xenon Pharmaceuticals Company Profile

Xenon Pharmaceuticals Inc is a clinical-stage biopharmaceutical company focused on discovering and developing medicines for neurological and psychiatric disorders. The company uses expertise in human genetics and ion-channel biology to identify potential treatments for diseases with significant unmet medical needs, particularly epilepsy and other disorders of the nervous system.

Xenon’s lead investigational product is azetukalner, also known as XEN1101, a selective potassium-channel opener being evaluated for epilepsy and other potential neurological and psychiatric applications.