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

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) has been given a consensus recommendation of “Buy” by the twelve brokerages that are covering the firm, MarketBeat.com reports. Eleven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $57.45.

A number of research firms recently weighed in on XENE. William Blair raised shares of Xenon Pharmaceuticals to a “strong-buy” rating in a report on Friday, August 30th. Needham & Company LLC decreased their price target on shares of Xenon Pharmaceuticals from $62.00 to $60.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Cantor Fitzgerald reissued an “overweight” rating and set a $65.00 price objective on shares of Xenon Pharmaceuticals in a research note on Friday, August 9th. HC Wainwright initiated coverage on Xenon Pharmaceuticals in a research note on Tuesday, October 1st. They issued a “buy” rating and a $53.00 target price on the stock. Finally, Raymond James reaffirmed an “outperform” rating and issued a $50.00 price target on shares of Xenon Pharmaceuticals in a report on Thursday, October 10th.

Hedge Funds Weigh In On Xenon Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the business. California State Teachers Retirement System grew its stake in shares of Xenon Pharmaceuticals by 0.9% during the first quarter. California State Teachers Retirement System now owns 56,477 shares of the biopharmaceutical company’s stock valued at $2,431,000 after buying an additional 490 shares during the last quarter. ProShare Advisors LLC grew its position in Xenon Pharmaceuticals by 12.0% during the 1st quarter. ProShare Advisors LLC now owns 5,286 shares of the biopharmaceutical company’s stock worth $228,000 after acquiring an additional 565 shares during the last quarter. Arizona State Retirement System increased its stake in Xenon Pharmaceuticals by 4.0% in the 2nd quarter. Arizona State Retirement System now owns 17,949 shares of the biopharmaceutical company’s stock worth $700,000 after purchasing an additional 688 shares during the period. Envestnet Asset Management Inc. lifted its position in Xenon Pharmaceuticals by 1.6% in the second quarter. Envestnet Asset Management Inc. now owns 48,946 shares of the biopharmaceutical company’s stock valued at $1,908,000 after purchasing an additional 769 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its stake in shares of Xenon Pharmaceuticals by 21.4% during the first quarter. Oppenheimer Asset Management Inc. now owns 5,374 shares of the biopharmaceutical company’s stock valued at $231,000 after purchasing an additional 946 shares during the period. Institutional investors own 95.45% of the company’s stock.

Xenon Pharmaceuticals Price Performance

NASDAQ:XENE opened at $41.76 on Tuesday. Xenon Pharmaceuticals has a 1 year low of $27.99 and a 1 year high of $50.99. The stock’s fifty day moving average price is $39.83 and its two-hundred day moving average price is $40.13. The company has a market cap of $3.15 billion, a P/E ratio of -15.41 and a beta of 1.25.

Xenon Pharmaceuticals (NASDAQ:XENE) last issued its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.75) EPS for the quarter, missing the consensus estimate of ($0.70) by ($0.05). During the same period last year, the company posted ($0.72) earnings per share. On average, analysts expect that Xenon Pharmaceuticals will post -3.14 earnings per share for the current fiscal year.

Xenon Pharmaceuticals Company Profile

Xenon Pharmaceuticals Inc, a clinical-stage biopharmaceutical company, engages in developing therapeutics to treat patients with neurological disorders in Canada. Its clinical development pipeline includes XEN496, a Kv7 potassium channel opener that is Phase III clinical trials for the treatment of KCNQ2 developmental and epileptic encephalopathy; and XEN1101, a Kv7 potassium channel opener, which is in Phase II clinical trial for the treatment of epilepsy and other neurological disorders.