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

Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) have earned a consensus recommendation of “Buy” from the seventeen research firms that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, fourteen have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $77.1333.

XENE has been the subject of a number of research analyst reports. Wall Street Zen upgraded shares of Xenon Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Saturday, August 1st. HC Wainwright restated a “buy” rating and issued a $74.00 target price on shares of Xenon Pharmaceuticals in a research note on Monday, August 10th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $69.00 target price on shares of Xenon Pharmaceuticals in a research report on Sunday, May 10th. JPMorgan Chase & Co. lifted their price target on shares of Xenon Pharmaceuticals from $80.00 to $82.00 and gave the company an “overweight” rating in a research note on Wednesday, May 27th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Xenon Pharmaceuticals in a report on Monday, July 6th.

Insiders Place Their Bets

In other news, Director Steven Gannon sold 10,000 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $64.06, for a total transaction of $640,600.00. Following the transaction, the director owned 1,870 shares of the company’s stock, valued at approximately $119,792.20. This represents a 84.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gillian Cannon sold 1,190 shares of the firm’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $53.14, for a total value of $63,236.60. Following the transaction, the director owned 1,455 shares in the company, valued at approximately $77,318.70. This represents a 44.99% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 12,512 shares of company stock worth $774,088 in the last ninety days. 2.91% of the stock is owned by company insiders.

Institutional Trading of Xenon Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the business. Palo Alto Investors LP bought a new position in Xenon Pharmaceuticals during the 2nd quarter worth about $3,099,184,000. PenderFund Capital Management Ltd. bought a new stake in shares of Xenon Pharmaceuticals in the 2nd quarter valued at about $413,000. Capstone Investment Advisors LLC bought a new stake in shares of Xenon Pharmaceuticals in the 2nd quarter valued at about $539,000. Seven Fleet Capital Management LP purchased a new stake in shares of Xenon Pharmaceuticals in the 2nd quarter worth approximately $2,084,468,000. Finally, Corient Private Wealth LP purchased a new stake in shares of Xenon Pharmaceuticals in the 2nd quarter worth approximately $1,734,000. 95.45% of the stock is owned by hedge funds and other institutional investors.

Xenon Pharmaceuticals Trading Up 1.3%

NASDAQ:XENE opened at $63.18 on Friday. Xenon Pharmaceuticals has a twelve month low of $35.60 and a twelve month high of $72.66. The company has a market cap of $6.11 billion, a price-to-earnings ratio of -13.33 and a beta of 0.62. The stock has a fifty day simple moving average of $61.78 and a 200-day simple moving average of $55.37.

Xenon Pharmaceuticals (NASDAQ:XENE) last posted its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported ($1.11) EPS for the quarter, topping analysts’ consensus estimates of ($1.16) by $0.05. During the same quarter in the prior year, the firm earned ($1.07) earnings per share. As a group, equities research analysts predict that Xenon Pharmaceuticals will post -4.73 EPS for the current fiscal year.

About Xenon Pharmaceuticals

Xenon Pharmaceuticals Inc is a clinical?stage biopharmaceutical company dedicated to discovering and developing novel, small?molecule drugs targeting ion channels in the central and peripheral nervous system. The company’s research focus centers on neurological and pain disorders—including epilepsy, migraine, and neuropathic pain—by modulating key ion?channel proteins to restore normal neuronal function. Xenon’s scientific platform draws upon advances in ion?channel biology and structure?based drug design to identify and optimize therapeutic candidates with the potential for improved safety and efficacy profiles compared with existing treatments.

The company’s pipeline comprises multiple preclinical and clinical programs.