Xenon Pharmaceuticals Inc. (NASDAQ:XENE) Receives $54.82 Consensus Target Price from Analysts

Key Points

• Xenon Pharmaceuticals Inc. has received a consensus rating of "Buy" from twelve research firms, indicating positive analyst sentiment.
• The average twelve-month price target for Xenon Pharmaceuticals among analysts is $54.82, with individual estimates ranging from $47.00 to $55.00.
• Xenon reported earnings per share of ($0.83) for its last quarter, beating expectations and showing a significant increase in revenue to $7.50 million.

Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Get Free Report) has received an average rating of "Buy" from the twelve analysts that are covering the firm, Marketbeat.com reports. Twelve analysts have rated the stock with a buy rating. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $54.8182.

XENE has been the topic of a number of research analyst reports. Royal Bank Of Canada decreased their price objective on shares of Xenon Pharmaceuticals from $58.00 to $55.00 and set an "outperform" rating on the stock in a report on Tuesday, May 13th. William Blair reaffirmed an "outperform" rating on shares of Xenon Pharmaceuticals in a report on Monday, May 5th. Evercore ISI began coverage on shares of Xenon Pharmaceuticals in a report on Wednesday, May 14th. They issued an "outperform" rating and a $55.00 price target on the stock. The Goldman Sachs Group reduced their price target on shares of Xenon Pharmaceuticals from $60.00 to $52.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Finally, Wall Street Zen downgraded shares of Xenon Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st.

Xenon Pharmaceuticals Trading Down 2.7%

Shares of NASDAQ:XENE traded down $0.94 during midday trading on Monday, hitting $33.33. The stock had a trading volume of 296,652 shares, compared to its average volume of 885,266. The company has a market capitalization of $2.56 billion, a PE ratio of -10.33 and a beta of 1.16. The stock has a 50 day moving average price of $31.68 and a two-hundred day moving average price of $34.24. Xenon Pharmaceuticals has a 1 year low of $26.74 and a 1 year high of $46.00.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last issued its earnings results 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 firm had revenue of $7.50 million during the quarter, compared to analysts' expectations of $1.64 million. During the same period in the previous year, the firm earned ($0.62) EPS. As a group, equities analysts expect that Xenon Pharmaceuticals will post -3.1 EPS for the current year.

Institutional Investors Weigh In On Xenon Pharmaceuticals

Several institutional investors have recently bought and sold shares of the business. Farther Finance Advisors LLC purchased a new position in shares of Xenon Pharmaceuticals in the second quarter valued at $25,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Xenon Pharmaceuticals in the 1st quarter worth about $30,000. GF Fund Management CO. LTD. bought a new position in Xenon Pharmaceuticals in the 4th quarter valued at about $63,000. Quarry LP bought a new position in shares of Xenon Pharmaceuticals during the 4th quarter valued at about $78,000. Finally, Amalgamated Bank bought a new position in shares of Xenon Pharmaceuticals during the 2nd quarter valued at about $81,000. 95.45% of the stock is currently owned by hedge funds and other institutional investors.

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.