Analysts Set Xenon Pharmaceuticals Inc. (NASDAQ:XENE) Price Target at $57.38

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) has earned an average recommendation of “Buy” from the nine analysts that are covering the firm, MarketBeat.com reports. Nine investment analysts have rated the stock with a buy recommendation. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $57.38.

XENE has been the subject of several recent research reports. Royal Bank of Canada reissued an “outperform” rating on shares of Xenon Pharmaceuticals in a research note on Friday, February 28th. HC Wainwright reissued a “buy” rating and issued a $53.00 target price on shares of Xenon Pharmaceuticals in a research note on Monday, February 24th. Deutsche Bank Aktiengesellschaft started coverage on Xenon Pharmaceuticals in a research report on Tuesday, February 11th. They set a “buy” rating and a $67.00 price target on the stock. StockNews.com downgraded Xenon Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Sunday. Finally, William Blair restated an “outperform” rating on shares of Xenon Pharmaceuticals in a report on Friday, February 28th.

Insider Transactions at Xenon Pharmaceuticals

In other Xenon Pharmaceuticals news, CEO Ian Mortimer sold 16,315 shares of the company’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $40.50, for a total value of $660,757.50. Following the completion of the transaction, the chief executive officer now directly owns 31,302 shares in the company, valued at approximately $1,267,731. This represents a 34.26 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 5.52% of the company’s stock.

Hedge Funds Weigh In On Xenon Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of XENE. GF Fund Management CO. LTD. purchased a new position in shares of Xenon Pharmaceuticals in the 4th quarter valued at approximately $63,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Xenon Pharmaceuticals by 17.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 191,852 shares of the biopharmaceutical company’s stock valued at $7,521,000 after acquiring an additional 29,169 shares during the period. Woodline Partners LP bought a new stake in Xenon Pharmaceuticals during the fourth quarter worth about $1,566,000. Vident Advisory LLC purchased a new stake in Xenon Pharmaceuticals in the fourth quarter worth about $212,000. Finally, Two Sigma Advisers LP increased its stake in shares of Xenon Pharmaceuticals by 9.1% during the fourth quarter. Two Sigma Advisers LP now owns 298,700 shares of the biopharmaceutical company’s stock valued at $11,709,000 after purchasing an additional 25,000 shares in the last quarter. Hedge funds and other institutional investors own 95.45% of the company’s stock.

Xenon Pharmaceuticals Price Performance

NASDAQ:XENE opened at $29.40 on Tuesday. The company has a market capitalization of $2.25 billion, a price-to-earnings ratio of -10.43 and a beta of 1.21. The business has a 50 day moving average of $36.90 and a 200 day moving average of $39.43. Xenon Pharmaceuticals has a 1-year low of $29.20 and a 1-year high of $46.00.

Xenon Pharmaceuticals (NASDAQ:XENE) last announced its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($0.84) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.89) by $0.05. As a group, sell-side analysts anticipate that Xenon Pharmaceuticals will post -3.1 EPS for the current year.

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.