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

Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) have been assigned a consensus rating of “Buy” from the seventeen analysts that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, fourteen have assigned a buy rating and two have issued a strong buy rating on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $77.20.

A number of research firms have issued reports on XENE. Royal Bank Of Canada increased their target price on shares of Xenon Pharmaceuticals from $80.00 to $82.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Xenon Pharmaceuticals in a research note on Monday, July 6th. JPMorgan Chase & Co. increased their price objective on Xenon Pharmaceuticals from $80.00 to $82.00 and gave the stock an “overweight” rating in a report on Wednesday, May 27th. Needham & Company LLC reduced their price objective on Xenon Pharmaceuticals from $80.00 to $78.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Finally, Wells Fargo & Company restated an “overweight” rating and issued a $69.00 target price on shares of Xenon Pharmaceuticals in a research note on Sunday, May 10th.

Xenon Pharmaceuticals Price Performance

Shares of XENE opened at $65.42 on Monday. The business’s 50-day moving average is $58.30 and its 200-day moving average is $52.69. The company has a market capitalization of $6.32 billion, a price-to-earnings ratio of -13.92 and a beta of 0.61. Xenon Pharmaceuticals has a fifty-two week low of $30.00 and a fifty-two week high of $72.66.

Xenon Pharmaceuticals (NASDAQ:XENE) last posted its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.17) EPS for the quarter, hitting the consensus estimate of ($1.17). During the same quarter last year, the firm earned ($0.83) EPS. Equities research analysts expect that Xenon Pharmaceuticals will post -4.92 earnings per share for the current fiscal year.

Insider Transactions at Xenon Pharmaceuticals

In related news, Director Gary Patou sold 1,322 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $53.14, for a total value of $70,251.08. Following the completion of the sale, the director owned 24,896 shares of the company’s stock, valued at approximately $1,322,973.44. The trade was a 5.04% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Gillian Cannon sold 1,190 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $53.14, for a total transaction of $63,236.60. Following the completion of the sale, the director directly owned 1,455 shares of the company’s stock, valued at $77,318.70. This represents a 44.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.91% of the stock is owned by company insiders.

Institutional Trading of Xenon Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in XENE. Holocene Advisors LP bought a new stake in Xenon Pharmaceuticals in the 2nd quarter valued at $56,637,000. Wellington Management Group LLP lifted its holdings in shares of Xenon Pharmaceuticals by 66.0% during the 3rd quarter. Wellington Management Group LLP now owns 3,609,857 shares of the biopharmaceutical company’s stock worth $144,936,000 after acquiring an additional 1,435,096 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Xenon Pharmaceuticals by 1,968.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 862,300 shares of the biopharmaceutical company’s stock worth $38,650,000 after acquiring an additional 820,608 shares during the period. Vestal Point Capital LP boosted its position in shares of Xenon Pharmaceuticals by 53.8% during the 2nd quarter. Vestal Point Capital LP now owns 2,000,000 shares of the biopharmaceutical company’s stock valued at $62,600,000 after acquiring an additional 700,000 shares in the last quarter. Finally, Commodore Capital LP boosted its position in shares of Xenon Pharmaceuticals by 30.1% during the 2nd quarter. Commodore Capital LP now owns 3,025,000 shares of the biopharmaceutical company’s stock valued at $94,682,000 after acquiring an additional 700,000 shares in the last quarter. Institutional investors and hedge funds own 95.45% of the company’s stock.

Xenon Pharmaceuticals Company Profile

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.