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

Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) have earned an average recommendation of “Buy” from the nine analysts that are covering the stock, Marketbeat reports. Nine investment analysts have rated the stock with a buy recommendation. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $59.11.

A number of brokerages have issued reports on XENE. Citigroup decreased their price target on Xenon Pharmaceuticals from $62.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. Cantor Fitzgerald restated an “overweight” rating and issued a $65.00 target price on shares of Xenon Pharmaceuticals in a report on Wednesday, April 10th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $55.00 price target on shares of Xenon Pharmaceuticals in a research note on Tuesday, June 18th. Wedbush lowered their price objective on shares of Xenon Pharmaceuticals from $51.00 to $50.00 and set an “outperform” rating for the company in a research note on Friday, May 10th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $62.00 target price on shares of Xenon Pharmaceuticals in a report on Friday, May 10th.

Institutional Investors Weigh In On Xenon Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of XENE. Franklin Resources Inc. lifted its position in Xenon Pharmaceuticals by 70.2% during the 4th quarter. Franklin Resources Inc. now owns 293,825 shares of the biopharmaceutical company’s stock worth $13,534,000 after acquiring an additional 121,213 shares in the last quarter. GSA Capital Partners LLP acquired a new position in shares of Xenon Pharmaceuticals during the first quarter worth $930,000. Perceptive Advisors LLC boosted its stake in shares of Xenon Pharmaceuticals by 78.3% in the fourth quarter. Perceptive Advisors LLC now owns 1,100,748 shares of the biopharmaceutical company’s stock valued at $50,700,000 after purchasing an additional 483,248 shares during the period. Affinity Asset Advisors LLC grew its holdings in Xenon Pharmaceuticals by 53.1% during the 4th quarter. Affinity Asset Advisors LLC now owns 460,000 shares of the biopharmaceutical company’s stock valued at $21,188,000 after purchasing an additional 159,562 shares in the last quarter. Finally, Westfield Capital Management Co. LP increased its stake in Xenon Pharmaceuticals by 46.3% during the 1st quarter. Westfield Capital Management Co. LP now owns 347,351 shares of the biopharmaceutical company’s stock worth $14,953,000 after buying an additional 109,856 shares during the period. Hedge funds and other institutional investors own 95.45% of the company’s stock.

Xenon Pharmaceuticals Stock Performance

Shares of XENE opened at $43.86 on Thursday. Xenon Pharmaceuticals has a 1 year low of $27.99 and a 1 year high of $50.99. The company’s 50 day simple moving average is $39.10 and its 200 day simple moving average is $42.45. The company has a market capitalization of $3.31 billion, a price-to-earnings ratio of -16.18 and a beta of 1.26.

Xenon Pharmaceuticals (NASDAQ:XENE) last issued its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.62) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.69) by $0.07. The business had revenue of $1.00 million for the quarter. During the same quarter in the previous year, the company posted ($0.63) earnings per share. The firm’s revenue for the quarter was up .0% on a year-over-year basis. Equities analysts expect that Xenon Pharmaceuticals will post -2.98 EPS 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.