Xenon Pharmaceuticals Inc. (NASDAQ:XENE – Get Rating) has received an average recommendation of "Moderate Buy" from the fourteen brokerages that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating and ten have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $50.56.
A number of equities analysts recently commented on XENE shares. JPMorgan Chase & Co. raised their target price on Xenon Pharmaceuticals from $52.00 to $54.00 in a report on Wednesday, January 4th. Wells Fargo & Company started coverage on Xenon Pharmaceuticals in a research note on Monday, November 28th. They issued an "overweight" rating and a $50.00 price target for the company. Royal Bank of Canada increased their price target on Xenon Pharmaceuticals from $46.00 to $49.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 11th. Cowen started coverage on Xenon Pharmaceuticals in a research note on Monday, December 12th. They issued an "outperform" rating for the company. Finally, Cowen started coverage on Xenon Pharmaceuticals in a research note on Monday, December 12th. They issued an "outperform" rating for the company.
Get Xenon Pharmaceuticals alerts:Xenon Pharmaceuticals Price Performance
NASDAQ XENE opened at $36.48 on Friday. Xenon Pharmaceuticals has a 1-year low of $24.60 and a 1-year high of $41.39. The business's fifty day moving average price is $36.90 and its 200-day moving average price is $36.36. The stock has a market capitalization of $2.28 billion, a price-to-earnings ratio of -17.88 and a beta of 1.36.
Xenon Pharmaceuticals (NASDAQ:XENE – Get Rating) last announced its earnings results on Tuesday, November 8th. The biopharmaceutical company reported ($0.57) EPS for the quarter, missing analysts' consensus estimates of ($0.52) by ($0.05). Xenon Pharmaceuticals had a negative return on equity of 17.31% and a negative net margin of 862.06%. The company had revenue of $0.13 million during the quarter, compared to the consensus estimate of $6.40 million. Equities research analysts anticipate that Xenon Pharmaceuticals will post -2.13 EPS for the current year.Insider Activity
In related news, Director Gary Patou sold 2,057 shares of Xenon Pharmaceuticals stock in a transaction dated Wednesday, November 23rd. The stock was sold at an average price of $34.33, for a total value of $70,616.81. Following the completion of the transaction, the director now owns 23,573 shares in the company, valued at $809,261.09. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 6.06% of the company's stock.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quantbot Technologies LP bought a new stake in Xenon Pharmaceuticals in the third quarter worth about $46,000. BNP Paribas Arbitrage SA lifted its stake in Xenon Pharmaceuticals by 1,567.5% in the first quarter. BNP Paribas Arbitrage SA now owns 1,334 shares of the biopharmaceutical company's stock worth $41,000 after purchasing an additional 1,254 shares during the last quarter. Advisors Asset Management Inc. bought a new stake in Xenon Pharmaceuticals in the first quarter worth about $66,000. Great West Life Assurance Co. Can bought a new stake in Xenon Pharmaceuticals in the third quarter worth about $86,000. Finally, UBS Group AG lifted its stake in Xenon Pharmaceuticals by 102.1% in the second quarter. UBS Group AG now owns 2,472 shares of the biopharmaceutical company's stock worth $76,000 after purchasing an additional 1,249 shares during the last quarter. Hedge funds and other institutional investors own 92.49% of the company's stock.
About Xenon Pharmaceuticals
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Xenon Pharmaceuticals Inc, a clinical-stage biopharmaceutical company, engages in developing therapeutics to treat patients with neurological disorders in Canada. Its clinical development pipeline includes XEN496, A Kv7 potassium channel opener that is Phase III clinical trials for the treatment of KCNQ2 developmental and epilepsy encephalopathy; and XEN1101, A Kv7 potassium channel opener, which is in Phase II clinical trial for the treatment of epilepsy and other neurological disorders.
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