Brokerages Set Xenon Pharmaceuticals Inc. (NASDAQ:XENE) PT at $57.45

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) has earned an average recommendation of “Buy” from the twelve brokerages that are covering the company, MarketBeat Ratings reports. Eleven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $57.45.

A number of brokerages have weighed in on XENE. Royal Bank of Canada reissued an “outperform” rating and set a $55.00 price target on shares of Xenon Pharmaceuticals in a research note on Tuesday, September 3rd. HC Wainwright began coverage on Xenon Pharmaceuticals in a research note on Tuesday, October 1st. They issued a “buy” rating and a $53.00 price target on the stock. Needham & Company LLC dropped their price objective on shares of Xenon Pharmaceuticals from $62.00 to $60.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Raymond James reissued an “outperform” rating and issued a $50.00 target price on shares of Xenon Pharmaceuticals in a research report on Thursday, October 10th. Finally, Wedbush dropped their price target on shares of Xenon Pharmaceuticals from $50.00 to $49.00 and set an “outperform” rating for the company in a research report on Friday, August 9th.

Xenon Pharmaceuticals Trading Down 1.6 %

Shares of XENE stock opened at $45.00 on Friday. The company has a market capitalization of $3.41 billion, a price-to-earnings ratio of -16.42 and a beta of 1.25. The firm has a 50-day moving average price of $40.97 and a 200 day moving average price of $40.29. Xenon Pharmaceuticals has a twelve month low of $27.99 and a twelve month high of $50.99.

Xenon Pharmaceuticals (NASDAQ:XENE) last posted its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.75) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.05). During the same quarter last year, the business earned ($0.72) EPS. As a group, research analysts predict that Xenon Pharmaceuticals will post -3.1 earnings per share for the current year.

Institutional Trading of Xenon Pharmaceuticals

Several large investors have recently added to or reduced their stakes in XENE. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of Xenon Pharmaceuticals in the first quarter valued at about $17,941,000. Affinity Asset Advisors LLC grew its position in Xenon Pharmaceuticals by 82.0% in the first quarter. Affinity Asset Advisors LLC now owns 837,387 shares of the biopharmaceutical company’s stock valued at $36,050,000 after acquiring an additional 377,387 shares in the last quarter. Logos Global Management LP purchased a new stake in shares of Xenon Pharmaceuticals during the second quarter valued at approximately $14,621,000. Ikarian Capital LLC lifted its position in shares of Xenon Pharmaceuticals by 169.6% during the first quarter. Ikarian Capital LLC now owns 107,187 shares of the biopharmaceutical company’s stock worth $4,614,000 after purchasing an additional 261,276 shares in the last quarter. Finally, Artal Group S.A. purchased a new position in shares of Xenon Pharmaceuticals in the first quarter valued at $10,908,000. 95.45% of the stock is currently owned by institutional investors and hedge funds.

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.