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.

Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Get Free Report) have been given a consensus rating of "Buy" by the twelve research firms that are currently covering the company, Marketbeat Ratings reports. Twelve research analysts have rated the stock with a buy rating. The average 12-month price objective among brokerages that have covered the stock in the last year is $54.8182.

A number of equities research analysts have recently commented on the stock. The Goldman Sachs Group reduced 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 note on Thursday, April 17th. Chardan Capital reiterated a "buy" rating and set a $55.00 target price on shares of Xenon Pharmaceuticals in a research report on Tuesday, May 13th. William Blair reiterated an "outperform" rating on shares of Xenon Pharmaceuticals in a research report on Monday, May 5th. Royal Bank Of Canada dropped their target price 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. Finally, Wells Fargo & Company dropped their target price on shares of Xenon Pharmaceuticals from $50.00 to $47.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 13th.

Xenon Pharmaceuticals Stock Performance

Shares of NASDAQ:XENE traded up $1.24 during trading on Monday, reaching $34.40. The stock had a trading volume of 2,361,812 shares, compared to its average volume of 877,655. The firm's fifty day moving average is $31.58 and its 200 day moving average is $34.24. Xenon Pharmaceuticals has a 52 week low of $26.74 and a 52 week high of $46.00. The stock has a market cap of $2.64 billion, a price-to-earnings ratio of -10.65 and a beta of 1.16.

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

Institutional Trading of Xenon Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in the stock. FMR LLC boosted its position in Xenon Pharmaceuticals by 8.8% during the fourth quarter. FMR LLC now owns 7,525,290 shares of the biopharmaceutical company's stock worth $294,991,000 after purchasing an additional 607,606 shares during the period. Driehaus Capital Management LLC boosted its position in Xenon Pharmaceuticals by 1.4% during the first quarter. Driehaus Capital Management LLC now owns 4,584,859 shares of the biopharmaceutical company's stock worth $153,822,000 after purchasing an additional 64,264 shares during the period. Wellington Management Group LLP boosted its position in Xenon Pharmaceuticals by 0.3% during the first quarter. Wellington Management Group LLP now owns 3,789,197 shares of the biopharmaceutical company's stock worth $127,128,000 after purchasing an additional 11,586 shares during the period. Braidwell LP boosted its position in Xenon Pharmaceuticals by 7.6% during the fourth quarter. Braidwell LP now owns 2,913,964 shares of the biopharmaceutical company's stock worth $114,227,000 after purchasing an additional 206,709 shares during the period. Finally, Janus Henderson Group PLC boosted its position in Xenon Pharmaceuticals by 12.3% during the fourth quarter. Janus Henderson Group PLC now owns 2,866,755 shares of the biopharmaceutical company's stock worth $112,425,000 after purchasing an additional 314,363 shares during the period. Hedge funds and other institutional investors own 95.45% of the company's stock.

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.