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

Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) have earned an average recommendation of “Buy” from the seventeen brokerages that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $77.1333.

Several research firms have recently weighed in on XENE. Weiss Ratings reissued a “sell (d-)” rating on shares of Xenon Pharmaceuticals in a report on Monday, July 6th. Royal Bank Of Canada cut their target price on shares of Xenon Pharmaceuticals from $82.00 to $81.00 and set an “outperform” rating on the stock in a report on Friday, August 7th. JPMorgan Chase & Co. upped their price target on shares of Xenon Pharmaceuticals from $80.00 to $82.00 and gave the company an “overweight” rating in a research report on Wednesday, May 27th. HC Wainwright reiterated a “buy” rating and issued a $74.00 price target on shares of Xenon Pharmaceuticals in a research report on Monday, August 10th. Finally, Wall Street Zen upgraded shares of Xenon Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 1st.

Xenon Pharmaceuticals Stock Performance

XENE opened at $58.65 on Tuesday. Xenon Pharmaceuticals has a one year low of $35.60 and a one year high of $72.66. The company has a market cap of $5.67 billion, a P/E ratio of -12.37 and a beta of 0.61. The business’s 50-day simple moving average is $63.43 and its 200-day simple moving average is $57.61.

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

Insider Transactions at Xenon Pharmaceuticals

In related news, Director Steven Gannon sold 10,000 shares of the firm’s stock in a transaction dated 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 $119,792.20. This trade represents a 84.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Christopher Kenney sold 7,068 shares of the business’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $60.25, for a total value of $425,847.00. Following the completion of the transaction, the insider owned 2 shares in the company, valued at $120.50. This trade represents a 99.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 2.91% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of XENE. Danske Bank A S acquired a new position in shares of Xenon Pharmaceuticals in the third quarter valued at approximately $32,000. Kestra Advisory Services LLC acquired a new stake in shares of Xenon Pharmaceuticals during the fourth quarter worth $33,000. Osaic Holdings Inc. grew its position in Xenon Pharmaceuticals by 541.4% in the 2nd quarter. Osaic Holdings Inc. now owns 1,225 shares of the biopharmaceutical company’s stock valued at $40,000 after buying an additional 1,034 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in Xenon Pharmaceuticals in the 4th quarter valued at $43,000. Finally, Rockefeller Capital Management L.P. grew its position in Xenon Pharmaceuticals by 450.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,100 shares of the biopharmaceutical company’s stock valued at $49,000 after buying an additional 900 shares during the last quarter. 95.45% of the stock is currently owned by hedge funds and other institutional investors.

Xenon Pharmaceuticals Company Profile

Xenon Pharmaceuticals Inc (NASDAQ:XENE) is a clinical-stage biopharmaceutical company focused on developing medicines for neurological and psychiatric disorders. The company uses its expertise in ion channels, which regulate the electrical activity of nerve cells, to discover and advance potential treatments for conditions with significant unmet medical needs.

Xenon’s leading investigational product is azetukalner (XEN1101), an oral, small-molecule potassium-channel opener being studied in epilepsy, including focal-onset seizures, and major depressive disorder.