Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Get Free Report) has been assigned a consensus recommendation of "Buy" from the twelve analysts that are currently covering the stock, MarketBeat reports. Eleven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $57.45.
A number of equities research analysts recently commented on XENE shares. Royal Bank of Canada reaffirmed an "outperform" rating and set a $55.00 price objective on shares of Xenon Pharmaceuticals in a research note on Tuesday, September 3rd. Wedbush lowered their price target on Xenon Pharmaceuticals from $50.00 to $49.00 and set an "outperform" rating for the company in a research note on Friday, August 9th. Needham & Company LLC reiterated a "buy" rating and issued a $60.00 price target on shares of Xenon Pharmaceuticals in a research report on Wednesday, November 13th. William Blair upgraded shares of Xenon Pharmaceuticals to a "strong-buy" rating in a report on Friday, August 30th. Finally, HC Wainwright reiterated a "buy" rating and issued a $53.00 target price on shares of Xenon Pharmaceuticals in a report on Wednesday, November 13th.
Check Out Our Latest Report on Xenon Pharmaceuticals
Xenon Pharmaceuticals Stock Up 1.6 %
Shares of NASDAQ XENE traded up $0.70 during mid-day trading on Wednesday, hitting $43.15. The company's stock had a trading volume of 395,846 shares, compared to its average volume of 390,022. Xenon Pharmaceuticals has a one year low of $33.62 and a one year high of $50.99. The company's fifty day simple moving average is $41.31 and its 200-day simple moving average is $40.20.
Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported ($0.81) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.82) by $0.01. During the same quarter in the prior year, the firm earned ($0.73) earnings per share. Equities analysts expect that Xenon Pharmaceuticals will post -3.1 EPS for the current year.
Insider Buying and Selling at Xenon Pharmaceuticals
In other news, Director Gary Patou sold 4,891 shares of Xenon Pharmaceuticals stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $41.08, for a total value of $200,922.28. Following the sale, the director now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 5.52% of the company's stock.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in the business. Blue Trust Inc. lifted its position in Xenon Pharmaceuticals by 174.7% during the 3rd quarter. Blue Trust Inc. now owns 1,008 shares of the biopharmaceutical company's stock worth $39,000 after buying an additional 641 shares in the last quarter. nVerses Capital LLC bought a new position in shares of Xenon Pharmaceuticals in the third quarter valued at $102,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in Xenon Pharmaceuticals by 21.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,740 shares of the biopharmaceutical company's stock worth $106,000 after buying an additional 487 shares during the last quarter. Quarry LP raised its position in Xenon Pharmaceuticals by 207.7% during the second quarter. Quarry LP now owns 4,000 shares of the biopharmaceutical company's stock worth $156,000 after acquiring an additional 2,700 shares in the last quarter. Finally, Virtu Financial LLC bought a new stake in Xenon Pharmaceuticals during the first quarter worth $287,000. Institutional investors own 95.45% of the company's stock.
About Xenon Pharmaceuticals
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Get Free ReportXenon 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.
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