Xenon Pharmaceuticals Inc. (NASDAQ:XENE) Receives Consensus Rating of "Buy" from Brokerages

Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Get Free Report) has been assigned an average rating of "Buy" from the nine research firms that are currently covering the firm, Marketbeat.com reports. Nine analysts have rated the stock with a buy rating. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $57.38.

Several analysts have recently weighed in on XENE shares. Royal Bank of Canada restated an "outperform" rating on shares of Xenon Pharmaceuticals in a research report on Friday, February 28th. Deutsche Bank Aktiengesellschaft began coverage on shares of Xenon Pharmaceuticals in a research report on Tuesday, February 11th. They issued a "buy" rating and a $67.00 price objective on the stock. StockNews.com upgraded Xenon Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Saturday. William Blair reiterated an "outperform" rating on shares of Xenon Pharmaceuticals in a report on Friday, February 28th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $53.00 price objective on shares of Xenon Pharmaceuticals in a report on Monday, February 24th.

Xenon Pharmaceuticals Stock Up 2.7 %

Xenon Pharmaceuticals stock traded up $0.82 during trading on Tuesday, reaching $31.46. The stock had a trading volume of 1,099,246 shares, compared to its average volume of 401,902. The stock has a market cap of $2.41 billion, a PE ratio of -11.16 and a beta of 1.26. The business has a 50 day moving average price of $37.45 and a 200 day moving average price of $39.63. Xenon Pharmaceuticals has a 52-week low of $30.38 and a 52-week high of $46.00.

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Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last issued its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.84) earnings per share for the quarter, topping the consensus estimate of ($0.89) by $0.05. On average, equities analysts predict that Xenon Pharmaceuticals will post -3.1 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Ian Mortimer sold 22,468 shares of Xenon Pharmaceuticals stock in a transaction on Friday, January 24th. The stock was sold at an average price of $40.20, for a total value of $903,213.60. Following the transaction, the chief executive officer now owns 31,302 shares in the company, valued at approximately $1,258,340.40. This trade represents a 41.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.52% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. boosted its position in shares of Xenon Pharmaceuticals by 1,263.2% in the third quarter. JPMorgan Chase & Co. now owns 976,783 shares of the biopharmaceutical company's stock worth $38,456,000 after buying an additional 905,129 shares during the period. Barclays PLC grew its stake in Xenon Pharmaceuticals by 1,275.5% in the third quarter. Barclays PLC now owns 14,993 shares of the biopharmaceutical company's stock worth $590,000 after purchasing an additional 13,903 shares in the last quarter. Walleye Capital LLC bought a new stake in Xenon Pharmaceuticals in the third quarter valued at about $4,132,000. Assenagon Asset Management S.A. raised its stake in Xenon Pharmaceuticals by 12.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 238,522 shares of the biopharmaceutical company's stock valued at $9,350,000 after buying an additional 26,235 shares in the last quarter. Finally, State Street Corp lifted its holdings in Xenon Pharmaceuticals by 13.2% during the 3rd quarter. State Street Corp now owns 279,513 shares of the biopharmaceutical company's stock worth $11,004,000 after buying an additional 32,701 shares during the last quarter. Hedge funds and other institutional investors own 95.45% of the company's stock.

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.