Xenon Pharmaceuticals Inc. (NASDAQ:XENE) Receives Average Recommendation of "Buy" from Analysts

Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Get Free Report) has been assigned an average rating of "Buy" from the twelve research firms that are presently covering the firm, Marketbeat reports. Twelve research analysts have rated the stock with a buy recommendation. The average 1 year target price among brokers that have issued a report on the stock in the last year is $54.82.

A number of equities research analysts have issued reports on XENE shares. William Blair restated an "outperform" rating on shares of Xenon Pharmaceuticals in a report on Monday, May 5th. Chardan Capital reaffirmed a "buy" rating and issued a $55.00 target price on shares of Xenon Pharmaceuticals in a report on Tuesday, May 13th. HC Wainwright reaffirmed a "buy" rating and issued a $53.00 price target on shares of Xenon Pharmaceuticals in a research report on Tuesday, May 13th. Wells Fargo & Company reduced their price objective on Xenon Pharmaceuticals from $50.00 to $47.00 and set an "overweight" rating for the company in a research report on Tuesday, May 13th. Finally, Evercore ISI initiated coverage on shares of Xenon Pharmaceuticals in a research note on Wednesday, May 14th. They issued an "outperform" rating and a $55.00 price objective on the stock.

Institutional Investors Weigh In On Xenon Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the stock. GF Fund Management CO. LTD. lifted its position in shares of Xenon Pharmaceuticals by 21.9% during the 1st quarter. GF Fund Management CO. LTD. now owns 1,952 shares of the biopharmaceutical company's stock worth $65,000 after buying an additional 351 shares during the period. Natixis Advisors LLC boosted its stake in shares of Xenon Pharmaceuticals by 1.9% in the 1st quarter. Natixis Advisors LLC now owns 24,010 shares of the biopharmaceutical company's stock valued at $806,000 after purchasing an additional 456 shares in the last quarter. Occudo Quantitative Strategies LP grew its holdings in shares of Xenon Pharmaceuticals by 5.8% in the 4th quarter. Occudo Quantitative Strategies LP now owns 11,441 shares of the biopharmaceutical company's stock worth $448,000 after purchasing an additional 630 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Xenon Pharmaceuticals by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 69,529 shares of the biopharmaceutical company's stock worth $2,726,000 after purchasing an additional 720 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of Xenon Pharmaceuticals during the 1st quarter worth about $30,000. 95.45% of the stock is owned by institutional investors and hedge funds.

Xenon Pharmaceuticals Stock Performance

Shares of NASDAQ XENE opened at $32.76 on Friday. The business's 50-day simple moving average is $32.94 and its 200-day simple moving average is $36.36. 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 $2.51 billion, a price-to-earnings ratio of -11.62 and a beta of 1.09.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The biopharmaceutical company reported ($0.83) EPS for the quarter, beating the consensus estimate of ($0.90) by $0.07. The company had revenue of $7.50 million for the quarter, compared to analyst estimates of $1.64 million. During the same quarter last year, the business earned ($0.62) EPS. As a group, equities research analysts forecast that Xenon Pharmaceuticals will post -3.1 earnings per share 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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