Xenon Pharmaceuticals Inc. (NASDAQ:XENE) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) have been assigned an average recommendation of “Moderate Buy” from the thirteen ratings firms that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $53.70.

XENE has been the subject of a number of recent analyst reports. William Blair restated an “outperform” rating on shares of Xenon Pharmaceuticals in a report on Tuesday, October 7th. Bloom Burton upgraded Xenon Pharmaceuticals to a “strong-buy” rating in a research note on Tuesday, October 7th. Chardan Capital reaffirmed a “buy” rating and issued a $55.00 price target on shares of Xenon Pharmaceuticals in a research report on Tuesday, October 7th. Cantor Fitzgerald reiterated an “overweight” rating and set a $55.00 price target on shares of Xenon Pharmaceuticals in a report on Tuesday, November 4th. Finally, Wedbush increased their price objective on Xenon Pharmaceuticals from $42.00 to $43.00 and gave the company an “outperform” rating in a research report on Tuesday, August 12th.

Xenon Pharmaceuticals Stock Up 3.9%

Shares of XENE stock opened at $39.92 on Wednesday. Xenon Pharmaceuticals has a 12 month low of $26.74 and a 12 month high of $44.60. The company has a market cap of $3.08 billion, a PE ratio of -11.25 and a beta of 1.10. The business’s 50 day moving average is $39.39 and its two-hundred day moving average is $35.47.

Xenon Pharmaceuticals (NASDAQ:XENE) last posted its quarterly earnings data on Monday, November 3rd. The biopharmaceutical company reported ($1.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.16) by $0.01. During the same quarter in the prior year, the company earned ($0.81) EPS. The company’s quarterly revenue was up .0% on a year-over-year basis. As a group, equities analysts expect that Xenon Pharmaceuticals will post -3.1 EPS for the current fiscal year.

Insiders Place Their Bets

In other Xenon Pharmaceuticals news, CEO Ian Mortimer sold 25,000 shares of the firm’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $40.16, for a total value of $1,004,000.00. Following the sale, the chief executive officer directly owned 31,302 shares in the company, valued at $1,257,088.32. This trade represents a 44.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 4.07% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Xenon Pharmaceuticals

Several hedge funds have recently made changes to their positions in XENE. Bank of New York Mellon Corp boosted its stake in Xenon Pharmaceuticals by 439.0% in the 1st quarter. Bank of New York Mellon Corp now owns 251,147 shares of the biopharmaceutical company’s stock valued at $8,426,000 after buying an additional 204,550 shares in the last quarter. Mutual of America Capital Management LLC bought a new position in shares of Xenon Pharmaceuticals during the first quarter valued at $1,636,000. New York State Common Retirement Fund boosted its stake in shares of Xenon Pharmaceuticals by 7.4% in the 1st quarter. New York State Common Retirement Fund now owns 142,372 shares of the biopharmaceutical company’s stock valued at $4,777,000 after purchasing an additional 9,851 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of Xenon Pharmaceuticals in the 1st quarter valued at $401,000. Finally, Legato Capital Management LLC bought a new stake in shares of Xenon Pharmaceuticals in the 1st quarter worth about $323,000. 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.