Xenon Pharmaceuticals Inc. (NASDAQ:XENE) Receives $56.78 Consensus Target Price from Brokerages

Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Get Free Report) has received a consensus rating of "Buy" from the ten ratings firms that are currently covering the firm, Marketbeat reports. Ten research analysts have rated the stock with a buy rating. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $56.78.

Several equities analysts recently issued reports on XENE shares. HC Wainwright reissued a "buy" rating and issued a $53.00 target price on shares of Xenon Pharmaceuticals in a research report on Monday, February 24th. The Goldman Sachs Group cut their price objective on Xenon Pharmaceuticals from $60.00 to $52.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. William Blair reaffirmed an "outperform" rating on shares of Xenon Pharmaceuticals in a report on Friday, February 28th. StockNews.com upgraded shares of Xenon Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Thursday, April 24th. Finally, Royal Bank of Canada restated an "outperform" rating on shares of Xenon Pharmaceuticals in a research note on Friday, February 28th.

Institutional Investors Weigh In On Xenon Pharmaceuticals

A number of institutional investors have recently modified their holdings of the business. Barclays PLC grew its holdings in Xenon Pharmaceuticals by 1,275.5% in the third quarter. Barclays PLC now owns 14,993 shares of the biopharmaceutical company's stock valued at $590,000 after purchasing an additional 13,903 shares during the period. JPMorgan Chase & Co. grew 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 valued at $38,456,000 after purchasing an additional 905,129 shares during the period. Harbor Capital Advisors Inc. increased its stake in shares of Xenon Pharmaceuticals by 3.7% during the fourth quarter. Harbor Capital Advisors Inc. now owns 49,818 shares of the biopharmaceutical company's stock worth $1,953,000 after purchasing an additional 1,755 shares in the last quarter. Elmwood Wealth Management Inc. raised its position in shares of Xenon Pharmaceuticals by 44.7% during the 4th quarter. Elmwood Wealth Management Inc. now owns 11,007 shares of the biopharmaceutical company's stock worth $431,000 after purchasing an additional 3,400 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in Xenon Pharmaceuticals by 12.4% in the 4th 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. 95.45% of the stock is currently owned by institutional investors and hedge funds.

Xenon Pharmaceuticals Stock Performance

XENE stock traded up $0.53 on Friday, hitting $38.37. 944,054 shares of the company's stock were exchanged, compared to its average volume of 446,691. The firm has a 50 day moving average price of $34.79 and a two-hundred day moving average price of $38.64. Xenon Pharmaceuticals has a 12-month low of $26.74 and a 12-month high of $46.00. The stock has a market cap of $2.94 billion, a P/E ratio of -13.61 and a beta of 1.21.

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

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.