Brokerages Set Xenon Pharmaceuticals Inc. (NASDAQ:XENE) PT at $54.82

Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Get Free Report) has been assigned a consensus rating of "Buy" from the twelve research firms that are currently covering the company, MarketBeat reports. Twelve investment analysts have rated the stock with a buy recommendation. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $54.82.

Several research firms recently weighed in on XENE. The Goldman Sachs Group reduced their price objective on Xenon Pharmaceuticals from $60.00 to $52.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Evercore ISI assumed coverage on Xenon Pharmaceuticals in a research report on Wednesday, May 14th. They issued an "outperform" rating and a $55.00 target price for the company. Chardan Capital reiterated a "buy" rating and issued a $55.00 target price on shares of Xenon Pharmaceuticals in a research report on Tuesday, May 13th. Royal Bank Of Canada dropped their target price on Xenon Pharmaceuticals from $58.00 to $55.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Finally, Wall Street Zen downgraded Xenon Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st.

Hedge Funds Weigh In On Xenon Pharmaceuticals

Hedge funds have recently made changes to their positions in the stock. Farther Finance Advisors LLC bought a new position in shares of Xenon Pharmaceuticals during the second quarter worth about $25,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Xenon Pharmaceuticals during the first quarter worth about $30,000. GF Fund Management CO. LTD. bought a new position in shares of Xenon Pharmaceuticals during the fourth quarter worth about $63,000. Quarry LP bought a new position in shares of Xenon Pharmaceuticals during the fourth quarter worth about $78,000. Finally, Magnetar Financial LLC bought a new position in shares of Xenon Pharmaceuticals during the fourth quarter worth about $210,000. 95.45% of the stock is currently owned by institutional investors.

Xenon Pharmaceuticals Price Performance

NASDAQ:XENE traded down $0.77 during trading hours on Thursday, hitting $32.21. The company's stock had a trading volume of 595,207 shares, compared to its average volume of 638,143. The stock has a fifty day simple moving average of $31.88 and a 200-day simple moving average of $35.18. The company has a market capitalization of $2.47 billion, a P/E ratio of -9.97 and a beta of 1.10. Xenon Pharmaceuticals has a twelve month low of $26.74 and a twelve month 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 business had revenue of $7.50 million during the quarter, compared to analyst estimates of $1.64 million. During the same period last year, the business earned ($0.62) earnings per share. On average, equities analysts predict that Xenon Pharmaceuticals will post -3.1 EPS for the current fiscal 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.