Xenon Pharmaceuticals Inc. (NASDAQ:XENE) Receives Consensus Rating of "Buy" from Analysts

Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Get Free Report) has received an average rating of "Buy" from the twelve ratings firms that are presently covering the stock, MarketBeat reports. Twelve research analysts have rated the stock with a buy rating. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $54.82.

A number of analysts have commented on XENE shares. Needham & Company LLC decreased their price target on shares of Xenon Pharmaceuticals from $60.00 to $55.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. The Goldman Sachs Group decreased their price target on shares of Xenon Pharmaceuticals from $60.00 to $52.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Royal Bank Of Canada decreased their price target on shares of Xenon Pharmaceuticals from $58.00 to $55.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. Chardan Capital restated a "buy" rating and set a $55.00 price target on shares of Xenon Pharmaceuticals in a research note on Tuesday, May 13th. Finally, Evercore ISI began coverage on shares of Xenon Pharmaceuticals in a report on Wednesday, May 14th. They set an "outperform" rating and a $55.00 price objective on the stock.

Hedge Funds Weigh In On Xenon Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. GF Fund Management CO. LTD. boosted its holdings in shares of Xenon Pharmaceuticals by 21.9% in the 1st quarter. GF Fund Management CO. LTD. now owns 1,952 shares of the biopharmaceutical company's stock worth $65,000 after buying an additional 351 shares during the last quarter. Natixis Advisors LLC raised its stake in Xenon Pharmaceuticals by 1.9% in the 1st quarter. Natixis Advisors LLC now owns 24,010 shares of the biopharmaceutical company's stock valued at $806,000 after acquiring an additional 456 shares during the period. Occudo Quantitative Strategies LP raised its stake in Xenon Pharmaceuticals by 5.8% in the 4th quarter. Occudo Quantitative Strategies LP now owns 11,441 shares of the biopharmaceutical company's stock valued at $448,000 after acquiring an additional 630 shares during the period. Geode Capital Management LLC raised its stake in Xenon Pharmaceuticals by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 69,529 shares of the biopharmaceutical company's stock valued at $2,726,000 after acquiring an additional 720 shares during the period. Finally, Caitong International Asset Management Co. Ltd bought a new stake in Xenon Pharmaceuticals in the 1st quarter valued at about $30,000. 95.45% of the stock is owned by hedge funds and other institutional investors.

Xenon Pharmaceuticals Price Performance

Shares of NASDAQ:XENE traded down $0.58 during mid-day trading on Thursday, hitting $32.41. The company had a trading volume of 179,838 shares, compared to its average volume of 635,555. The firm has a fifty day moving average price of $32.01 and a 200 day moving average price of $35.24. The company has a market capitalization of $2.49 billion, a PE ratio of -10.02 and a beta of 1.10. Xenon Pharmaceuticals has a one year low of $26.74 and a one year high of $46.00.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The biopharmaceutical company reported ($0.83) earnings per share for the quarter, beating the consensus estimate of ($0.90) by $0.07. The company had revenue of $7.50 million during the quarter, compared to the consensus estimate of $1.64 million. During the same quarter in the prior year, the firm earned ($0.62) EPS. Research analysts expect that Xenon Pharmaceuticals will post -3.1 earnings per share for the current fiscal year.

About Xenon Pharmaceuticals

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.