Analysts Set Xenon Pharmaceuticals Inc. (NASDAQ:XENE) PT at $56.78

Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Get Free Report) have been assigned an average recommendation of "Buy" from the ten ratings firms that are presently covering the stock, Marketbeat reports. Ten research analysts have rated the stock with a buy rating. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $56.78.

A number of equities research analysts have commented on XENE shares. Deutsche Bank Aktiengesellschaft began coverage on Xenon Pharmaceuticals in a research report on Tuesday, February 11th. They issued a "buy" rating and a $67.00 target price on the stock. StockNews.com raised shares of Xenon Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Thursday, April 24th. Royal Bank of Canada reissued an "outperform" rating on shares of Xenon Pharmaceuticals in a research note on Friday, February 28th. William Blair reiterated an "outperform" rating on shares of Xenon Pharmaceuticals in a report on Friday, February 28th. Finally, The Goldman Sachs Group lowered their price target on Xenon Pharmaceuticals from $60.00 to $52.00 and set a "buy" rating for the company in a research report on Thursday, April 17th.

Institutional Investors Weigh In On Xenon Pharmaceuticals

Institutional investors have recently made changes to their positions in the company. Barclays PLC lifted its stake in Xenon Pharmaceuticals by 1,275.5% in the third quarter. Barclays PLC now owns 14,993 shares of the biopharmaceutical company's stock valued at $590,000 after buying an additional 13,903 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Xenon Pharmaceuticals by 1,263.2% in the third quarter. JPMorgan Chase & Co. now owns 976,783 shares of the biopharmaceutical company's stock worth $38,456,000 after acquiring an additional 905,129 shares during the last quarter. Harbor Capital Advisors Inc. boosted its position in Xenon Pharmaceuticals by 3.7% during the fourth quarter. Harbor Capital Advisors Inc. now owns 49,818 shares of the biopharmaceutical company's stock valued at $1,953,000 after purchasing an additional 1,755 shares during the last quarter. Elmwood Wealth Management Inc. increased its position in Xenon Pharmaceuticals by 44.7% in the 4th quarter. Elmwood Wealth Management Inc. now owns 11,007 shares of the biopharmaceutical company's stock worth $431,000 after purchasing an additional 3,400 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its position in shares of Xenon Pharmaceuticals by 12.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 238,522 shares of the biopharmaceutical company's stock valued at $9,350,000 after purchasing an additional 26,235 shares during the period. 95.45% of the stock is currently owned by institutional investors.

Xenon Pharmaceuticals Stock Down 0.6 %

Shares of Xenon Pharmaceuticals stock traded down $0.23 during mid-day trading on Friday, reaching $38.14. 403,498 shares of the stock traded hands, compared to its average volume of 445,867. The business has a 50-day moving average of $34.77 and a 200 day moving average of $38.64. The stock has a market capitalization of $2.92 billion, a PE ratio of -13.52 and a beta of 1.21. Xenon Pharmaceuticals has a fifty-two week low of $26.74 and a fifty-two week high of $46.00.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.84) earnings per share for the quarter, beating the consensus estimate of ($0.89) by $0.05. On average, equities research analysts expect 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.