Analysts Set Xenon Pharmaceuticals Inc. (NASDAQ:XENE) Price Target at $56.00

Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Get Free Report) have been assigned a consensus rating of "Buy" from the nine research firms that are covering the company, MarketBeat.com reports. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $57.38.

Several research firms have recently weighed in on XENE. Deutsche Bank Aktiengesellschaft began coverage on shares of Xenon Pharmaceuticals in a research report on Tuesday. They set a "buy" rating and a $67.00 price objective for the company. HC Wainwright reiterated a "buy" rating and issued a $53.00 target price on shares of Xenon Pharmaceuticals in a report on Thursday, December 12th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $60.00 target price on shares of Xenon Pharmaceuticals in a report on Wednesday, November 13th.

Insider Buying and Selling at Xenon Pharmaceuticals

In other Xenon Pharmaceuticals news, Director Gary Patou sold 4,891 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $41.08, for a total transaction of $200,922.28. Following the transaction, the director now owns 23,573 shares in the company, valued at $968,378.84. This trade represents a 17.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Ian Mortimer sold 22,468 shares of the stock in a transaction that occurred on Friday, January 24th. The shares were 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 62,383 shares of company stock worth $2,535,891 over the last 90 days. Insiders own 5.52% of the company's stock.

Institutional Investors Weigh In On Xenon Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of XENE. Handelsbanken Fonder AB grew its stake in shares of Xenon Pharmaceuticals by 8.1% in the third quarter. Handelsbanken Fonder AB now owns 22,700 shares of the biopharmaceutical company's stock worth $894,000 after acquiring an additional 1,700 shares during the last quarter. nVerses Capital LLC acquired a new stake in shares of Xenon Pharmaceuticals in the third quarter worth $102,000. Blue Trust Inc. grew 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 acquiring an additional 641 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Xenon Pharmaceuticals by 188.4% in the third quarter. Assenagon Asset Management S.A. now owns 212,287 shares of the biopharmaceutical company's stock worth $8,358,000 after acquiring an additional 138,685 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew 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 acquiring an additional 487 shares during the last quarter. Institutional investors and hedge funds own 95.45% of the company's stock.

Xenon Pharmaceuticals Trading Down 0.6 %

XENE stock traded down $0.24 during trading on Monday, hitting $39.26. The company had a trading volume of 379,489 shares, compared to its average volume of 410,700. The firm has a market capitalization of $2.99 billion, a price-to-earnings ratio of -13.92 and a beta of 1.20. The business has a 50 day moving average of $39.78 and a 200 day moving average of $40.56. Xenon Pharmaceuticals has a fifty-two week low of $35.53 and a fifty-two week high of $50.99.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last posted its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported ($0.81) earnings per share for the quarter, beating the consensus estimate of ($0.82) by $0.01. During the same quarter in the prior year, the business posted ($0.73) EPS. As a group, equities analysts predict that Xenon Pharmaceuticals will post -3.13 EPS for the current year.

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.