Xenon Pharmaceuticals Inc. (NASDAQ:XENE) Receives Average Rating of "Buy" from Brokerages

Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Get Free Report) has been given a consensus rating of "Buy" by the twelve analysts that are covering the stock, MarketBeat Ratings reports. Twelve analysts have rated the stock with a buy rating. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $54.82.

Several analysts recently commented on XENE shares. Royal Bank Of Canada cut their price objective on shares of Xenon Pharmaceuticals from $58.00 to $55.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. The Goldman Sachs Group cut their price objective on shares of Xenon Pharmaceuticals from $60.00 to $52.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Evercore ISI started coverage on shares of Xenon Pharmaceuticals in a research report on Wednesday, May 14th. They set an "outperform" rating and a $55.00 price objective on the stock. Wall Street Zen downgraded shares of Xenon Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Finally, Needham & Company LLC cut their price objective on shares of Xenon Pharmaceuticals from $60.00 to $55.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th.

Institutional Trading of Xenon Pharmaceuticals

Institutional investors have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Xenon Pharmaceuticals during the 1st quarter valued at about $30,000. GF Fund Management CO. LTD. bought a new position in shares of Xenon Pharmaceuticals in the 4th quarter worth approximately $63,000. Quarry LP bought a new position in shares of Xenon Pharmaceuticals in the 4th quarter worth approximately $78,000. Magnetar Financial LLC bought a new position in shares of Xenon Pharmaceuticals in the 4th quarter worth approximately $210,000. Finally, Vident Advisory LLC bought a new position in shares of Xenon Pharmaceuticals in the 4th quarter worth approximately $212,000. Hedge funds and other institutional investors own 95.45% of the company's stock.

Xenon Pharmaceuticals Stock Performance

Shares of Xenon Pharmaceuticals stock traded up $0.30 during trading on Thursday, hitting $32.98. The company's stock had a trading volume of 732,810 shares, compared to its average volume of 637,230. The company has a fifty day simple moving average of $32.11 and a two-hundred day simple moving average of $35.28. The company has a market capitalization of $2.53 billion, a PE ratio of -10.21 and a beta of 1.10. Xenon Pharmaceuticals has a 52 week low of $26.74 and a 52 week high of $46.00.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The biopharmaceutical company reported ($0.83) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.90) by $0.07. The business had revenue of $7.50 million during the quarter, compared to the consensus estimate of $1.64 million. During the same quarter in the previous year, the business earned ($0.62) earnings per share. As a group, analysts predict 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.