Xenon Pharmaceuticals Inc. (NASDAQ:XENE) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• Xenon Pharmaceuticals Inc. has received a consensus recommendation of "Moderate Buy" from twelve research firms, with an average 1-year price target of $53.67.
• CEO Ian Mortimer sold 25,000 shares at an average price of $40.16, marking a 44.40% decrease in his ownership stake in the company.
• Recent institutional investments included new positions from multiple firms, with institutional ownership now constituting 95.45% of the stock.

Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the twelve research firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, ten have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $53.6667.

A number of research firms have weighed in on XENE. Chardan Capital restated a "buy" rating and issued a $55.00 price target on shares of Xenon Pharmaceuticals in a research note on Tuesday, October 7th. William Blair restated an "outperform" rating on shares of Xenon Pharmaceuticals in a research note on Tuesday, October 7th. Weiss Ratings restated a "sell (d-)" rating on shares of Xenon Pharmaceuticals in a research note on Tuesday. Royal Bank Of Canada restated an "outperform" rating and issued a $55.00 price target on shares of Xenon Pharmaceuticals in a research note on Tuesday, September 2nd. Finally, Wells Fargo & Company began coverage on Xenon Pharmaceuticals in a research note on Wednesday, September 3rd. They issued an "overweight" rating and a $48.00 price target for the company.

Insiders Place Their Bets

In other news, CEO Ian Mortimer sold 25,000 shares of Xenon Pharmaceuticals stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $40.16, for a total transaction of $1,004,000.00. Following the completion of the transaction, the chief executive officer directly owned 31,302 shares in the company, valued at approximately $1,257,088.32. The trade was a 44.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.07% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Farther Finance Advisors LLC bought a new position in shares of Xenon Pharmaceuticals during the 2nd quarter worth approximately $25,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Xenon Pharmaceuticals during the 1st quarter worth approximately $30,000. Elevation Point Wealth Partners LLC bought a new position in shares of Xenon Pharmaceuticals during the 2nd quarter worth approximately $32,000. Osaic Holdings Inc. boosted its stake in shares of Xenon Pharmaceuticals by 541.4% during the 2nd quarter. Osaic Holdings Inc. now owns 1,225 shares of the biopharmaceutical company's stock worth $40,000 after acquiring an additional 1,034 shares during the period. Finally, L1 Capital Pty Ltd bought a new position in shares of Xenon Pharmaceuticals during the 2nd quarter worth approximately $41,000. 95.45% of the stock is currently owned by institutional investors.

Xenon Pharmaceuticals Stock Performance

Shares of Xenon Pharmaceuticals stock opened at $41.63 on Friday. The business's 50 day simple moving average is $38.38 and its 200 day simple moving average is $34.49. Xenon Pharmaceuticals has a 52-week low of $26.74 and a 52-week high of $46.00. The firm has a market cap of $3.21 billion, a PE ratio of -11.73 and a beta of 1.14.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last announced its earnings results 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 last year, the business earned ($0.75) earnings per share. As a group, equities research analysts predict that Xenon Pharmaceuticals will post -3.1 EPS for the current 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.

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