Xenon Pharmaceuticals Inc. (NASDAQ:XENE) Receives $57.45 Consensus PT from Brokerages

Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Get Free Report) has earned a consensus recommendation of "Buy" from the twelve brokerages that are covering the stock, MarketBeat Ratings reports. Eleven analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $57.45.

Several analysts have recently commented on XENE shares. 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. Raymond James reaffirmed an "outperform" rating and issued a $50.00 target price on shares of Xenon Pharmaceuticals in a research report on Thursday, October 10th. HC Wainwright assumed coverage on Xenon Pharmaceuticals in a research report on Tuesday, October 1st. They set a "buy" rating and a $53.00 price objective for the company. Royal Bank of Canada reissued an "outperform" rating and set a $55.00 price objective on shares of Xenon Pharmaceuticals in a research report on Tuesday, September 3rd. Finally, Wedbush reduced their price objective on Xenon Pharmaceuticals from $50.00 to $49.00 and set an "outperform" rating for the company in a research report on Friday, August 9th.

Xenon Pharmaceuticals Trading Up 1.4 %

Shares of NASDAQ XENE traded up $0.58 during mid-day trading on Friday, reaching $41.69. The company had a trading volume of 291,442 shares, compared to its average volume of 359,538. The stock has a market cap of $3.16 billion, a PE ratio of -15.22 and a beta of 1.25. The company has a 50-day moving average price of $40.61 and a two-hundred day moving average price of $40.16. Xenon Pharmaceuticals has a 1-year low of $27.99 and a 1-year high of $50.99.

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

Institutional Trading of Xenon Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in XENE. Blue Trust Inc. increased its stake in shares of Xenon Pharmaceuticals by 174.7% in the third quarter. Blue Trust Inc. now owns 1,008 shares of the biopharmaceutical company's stock worth $39,000 after purchasing an additional 641 shares during the period. PNC Financial Services Group Inc. bought a new position in shares of Xenon Pharmaceuticals in the fourth quarter worth about $91,000. nVerses Capital LLC bought a new position in shares of Xenon Pharmaceuticals in the third quarter worth about $102,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Xenon Pharmaceuticals by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,740 shares of the biopharmaceutical company's stock worth $106,000 after purchasing an additional 487 shares during the period. Finally, Quarry LP increased its stake in shares of Xenon Pharmaceuticals by 207.7% in the second quarter. Quarry LP now owns 4,000 shares of the biopharmaceutical company's stock worth $156,000 after purchasing an additional 2,700 shares during the period. Institutional investors and hedge funds own 95.45% of the company's stock.

Xenon Pharmaceuticals Company Profile

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.