Xenon Pharmaceuticals Inc. (NASDAQ:XENE) Receives $56.00 Consensus Target Price from Brokerages

Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Get Free Report) has received an average rating of "Buy" from the nine ratings firms that are covering the firm, MarketBeat reports. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $56.00.

A number of analysts have weighed in on XENE shares. Needham & Company LLC restated a "buy" rating and set a $60.00 target price on shares of Xenon Pharmaceuticals in a report on Wednesday, November 13th. Royal Bank of Canada restated an "outperform" rating and set a $55.00 price objective on shares of Xenon Pharmaceuticals in a research note on Tuesday, September 3rd. HC Wainwright reiterated a "buy" rating and issued a $53.00 target price on shares of Xenon Pharmaceuticals in a research note on Thursday, December 12th. Raymond James reiterated an "outperform" rating and issued a $50.00 target price on shares of Xenon Pharmaceuticals in a report on Thursday, October 10th. Finally, William Blair upgraded shares of Xenon Pharmaceuticals to a "strong-buy" rating in a report on Friday, August 30th.

Xenon Pharmaceuticals Trading Down 0.7 %

Shares of Xenon Pharmaceuticals stock traded down $0.27 during trading on Friday, hitting $38.63. 1,054,236 shares of the stock traded hands, compared to its average volume of 391,447. The stock's fifty day simple moving average is $41.85 and its 200 day simple moving average is $40.49. The firm has a market cap of $2.95 billion, a P/E ratio of -13.70 and a beta of 1.19. Xenon Pharmaceuticals has a 52-week low of $35.53 and a 52-week high of $50.99.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last posted its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.81) EPS for the quarter, beating analysts' consensus estimates of ($0.82) by $0.01. During the same quarter in the previous year, the company posted ($0.73) EPS. As a group, equities analysts expect that Xenon Pharmaceuticals will post -3.1 EPS for the current year.

Insider Activity at Xenon Pharmaceuticals

In related news, CFO Sherry Aulin sold 18,709 shares of the company's stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $41.21, for a total value of $770,997.89. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Gary Patou sold 4,891 shares of Xenon Pharmaceuticals stock in a transaction dated Friday, November 22nd. The stock was 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 of the company's stock, valued at approximately $968,378.84. This represents a 17.18 % decrease in their position. The disclosure for this sale can be found here. 5.52% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Xenon Pharmaceuticals

A number of large investors have recently bought and sold shares of the company. Janus Henderson Group PLC lifted its stake in Xenon Pharmaceuticals by 144.2% during the 3rd quarter. Janus Henderson Group PLC now owns 2,552,392 shares of the biopharmaceutical company's stock valued at $100,506,000 after acquiring an additional 1,507,135 shares during the period. Logos Global Management LP purchased a new position in shares of Xenon Pharmaceuticals during the second quarter worth $14,621,000. Vestal Point Capital LP lifted its position in Xenon Pharmaceuticals by 57.1% during the third quarter. Vestal Point Capital LP now owns 825,000 shares of the biopharmaceutical company's stock valued at $32,480,000 after purchasing an additional 300,000 shares during the period. Samlyn Capital LLC boosted its holdings in Xenon Pharmaceuticals by 61.5% in the second quarter. Samlyn Capital LLC now owns 639,685 shares of the biopharmaceutical company's stock valued at $24,941,000 after purchasing an additional 243,489 shares during the last quarter. Finally, Point72 Asset Management L.P. grew its position in Xenon Pharmaceuticals by 74.7% during the 2nd quarter. Point72 Asset Management L.P. now owns 482,022 shares of the biopharmaceutical company's stock worth $18,794,000 after purchasing an additional 206,163 shares during the period. 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.