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

Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Get Free Report) have received a consensus recommendation of "Buy" from the twelve research firms that are presently covering the company, Marketbeat reports. Twelve equities research analysts have rated the stock with a buy recommendation. The average 12 month price target among analysts that have covered the stock in the last year is $54.82.

A number of equities analysts have issued reports on XENE shares. Needham & Company LLC decreased their price objective on Xenon Pharmaceuticals from $60.00 to $55.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Chardan Capital reiterated a "buy" rating and issued a $55.00 price target on shares of Xenon Pharmaceuticals in a research note on Tuesday, May 13th. Wall Street Zen lowered shares of Xenon Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Wells Fargo & Company cut their price objective on shares of Xenon Pharmaceuticals from $50.00 to $47.00 and set an "overweight" rating on the stock in a report on Tuesday, May 13th. Finally, Evercore ISI started coverage on shares of Xenon Pharmaceuticals in a research note on Wednesday, May 14th. They set an "outperform" rating and a $55.00 target price for the company.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in XENE. Caitong International Asset Management Co. Ltd bought a new stake in Xenon Pharmaceuticals in the 1st quarter worth approximately $30,000. GF Fund Management CO. LTD. purchased a new position in Xenon Pharmaceuticals in the fourth quarter worth about $63,000. Quarry LP bought a new stake in shares of Xenon Pharmaceuticals during the 4th quarter valued at about $78,000. Blue Trust Inc. grew its stake in shares of Xenon Pharmaceuticals by 140.3% during the 4th quarter. Blue Trust Inc. now owns 2,422 shares of the biopharmaceutical company's stock valued at $95,000 after purchasing an additional 1,414 shares during the period. Finally, Avior Wealth Management LLC purchased a new stake in shares of Xenon Pharmaceuticals during the 4th quarter valued at about $101,000. 95.45% of the stock is owned by hedge funds and other institutional investors.

Xenon Pharmaceuticals Stock Performance

Shares of NASDAQ XENE traded down $0.74 during midday trading on Wednesday, hitting $29.75. 944,149 shares of the company traded hands, compared to its average volume of 523,682. Xenon Pharmaceuticals has a 12-month low of $26.74 and a 12-month high of $46.00. The firm has a market cap of $2.28 billion, a P/E ratio of -10.55 and a beta of 1.21. The stock has a 50-day moving average price of $33.52 and a 200 day moving average price of $37.35.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last posted 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 firm had revenue of $7.50 million for the quarter, compared to the consensus estimate of $1.64 million. During the same period in the previous year, the firm posted ($0.62) earnings per share. As a group, equities analysts expect that Xenon Pharmaceuticals will post -3.1 earnings per share for the current 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.