Xenon Pharmaceuticals Inc. (NASDAQ:XENE) Given Average Rating of "Buy" by Analysts

Key Points

• Xenon Pharmaceuticals has received a consensus rating of "Buy" from eleven brokerages, with an average one-year price target of $53.20.
• The company's recent quarterly earnings reported an EPS of ($1.07), missing the consensus estimate by ($0.04).
• Institutional investors hold approximately 95.45% of Xenon Pharmaceuticals' shares, indicating significant confidence in the stock's potential.

Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Get Free Report) has earned a consensus rating of "Buy" from the eleven research firms that are presently covering the firm, MarketBeat reports. Eleven analysts have rated the stock with a buy rating. The average 12-month price target among brokers that have covered the stock in the last year is $53.20.

Several equities analysts have recently issued reports on the company. Wall Street Zen cut Xenon Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Evercore ISI began 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 on the stock. Needham & Company LLC decreased their price target on shares of Xenon Pharmaceuticals from $60.00 to $55.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. Wells Fargo & Company lowered their price objective on shares of Xenon Pharmaceuticals from $50.00 to $47.00 and set an "overweight" rating for the company in a report on Tuesday, May 13th. Finally, Royal Bank Of Canada reduced their target price on Xenon Pharmaceuticals from $57.00 to $55.00 and set an "outperform" rating on the stock in a report on Tuesday, August 12th.

Institutional Trading of Xenon Pharmaceuticals

Hedge funds have recently modified their holdings of the business. Raymond James Financial Inc. purchased a new position in Xenon Pharmaceuticals during the 4th quarter valued at about $797,000. Barclays PLC increased its stake in shares of Xenon Pharmaceuticals by 20.9% during the fourth quarter. Barclays PLC now owns 18,127 shares of the biopharmaceutical company's stock valued at $711,000 after purchasing an additional 3,134 shares in the last quarter. Voya Investment Management LLC increased its stake in shares of Xenon Pharmaceuticals by 32.3% during the fourth quarter. Voya Investment Management LLC now owns 62,415 shares of the biopharmaceutical company's stock valued at $2,447,000 after purchasing an additional 15,250 shares in the last quarter. Aquatic Capital Management LLC purchased a new position in shares of Xenon Pharmaceuticals during the fourth quarter valued at approximately $324,000. Finally, Quarry LP purchased a new position in shares of Xenon Pharmaceuticals during the fourth quarter valued at approximately $78,000. Institutional investors own 95.45% of the company's stock.

Xenon Pharmaceuticals Stock Performance

NASDAQ:XENE traded up $0.11 during midday trading on Friday, reaching $38.71. 677,575 shares of the stock traded hands, compared to its average volume of 981,668. The stock has a market capitalization of $2.98 billion, a P/E ratio of -10.90 and a beta of 1.16. The company has a fifty day moving average of $33.83 and a 200 day moving average of $33.89. Xenon Pharmaceuticals has a 12 month low of $26.74 and a 12 month high of $46.00.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last released its quarterly earnings data on Monday, August 11th. The biopharmaceutical company reported ($1.07) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.03) by ($0.04). During the same quarter in the previous year, the firm posted ($0.75) EPS. On average, analysts predict that Xenon Pharmaceuticals will post -3.1 EPS for the current fiscal 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.