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

Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Get Free Report) has received a consensus recommendation of "Buy" from the twelve brokerages that are currently covering the stock, Marketbeat reports. Twelve investment 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.

Several analysts have weighed in on the company. The Goldman Sachs Group dropped their price target on Xenon Pharmaceuticals from $60.00 to $52.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Chardan Capital reiterated a "buy" rating and set a $55.00 price target on shares of Xenon Pharmaceuticals in a research note on Tuesday, May 13th. William Blair reiterated an "outperform" rating on shares of Xenon Pharmaceuticals in a research note on Monday, May 5th. Wall Street Zen downgraded Xenon Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Finally, Wells Fargo & Company dropped their price target on Xenon Pharmaceuticals from $50.00 to $47.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 13th.

Hedge Funds Weigh In On Xenon Pharmaceuticals

A number of hedge funds have recently bought and sold shares of XENE. Caitong International Asset Management Co. Ltd purchased a new position in Xenon Pharmaceuticals during the first quarter worth approximately $30,000. GF Fund Management CO. LTD. purchased a new position in Xenon Pharmaceuticals during the fourth quarter worth approximately $63,000. Quarry LP acquired a new position in shares of Xenon Pharmaceuticals during the fourth quarter valued at approximately $78,000. Magnetar Financial LLC acquired a new position in shares of Xenon Pharmaceuticals during the fourth quarter valued at approximately $210,000. Finally, Vident Advisory LLC acquired a new position in shares of Xenon Pharmaceuticals during the fourth quarter valued at approximately $212,000. Hedge funds and other institutional investors own 95.45% of the company's stock.

Xenon Pharmaceuticals Stock Performance

NASDAQ:XENE traded up $0.20 during mid-day trading on Friday, hitting $31.90. 965,115 shares of the company's stock traded hands, compared to its average volume of 562,433. The company has a fifty day moving average of $33.02 and a 200 day moving average of $36.18. Xenon Pharmaceuticals has a twelve month low of $26.74 and a twelve month high of $46.00. The company has a market capitalization of $2.45 billion, a P/E ratio of -9.88 and a beta of 1.09.

Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last posted its quarterly earnings results 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 analysts' expectations of $1.64 million. During the same quarter in the previous year, the firm posted ($0.62) EPS. On average, research analysts expect that Xenon Pharmaceuticals will post -3.1 earnings per share for the current fiscal 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.