Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE – Get Free Report) have been assigned a consensus recommendation of “Buy” from the nine research firms that are presently covering the company, MarketBeat.com reports. Nine research analysts have rated the stock with a buy rating. The average 12 month price objective among analysts that have covered the stock in the last year is $56.89.
XENE has been the subject of several research analyst reports. Wedbush cut their price objective on Xenon Pharmaceuticals from $47.00 to $46.00 and set an “outperform” rating for the company in a report on Thursday, November 9th. Royal Bank of Canada lifted their target price on Xenon Pharmaceuticals from $51.00 to $56.00 and gave the company an “outperform” rating in a research report on Tuesday, November 28th. Bank of America lifted their target price on Xenon Pharmaceuticals from $52.00 to $56.00 and gave the company a “buy” rating in a research report on Tuesday, January 2nd. Citigroup initiated coverage on Xenon Pharmaceuticals in a research report on Thursday, January 4th. They set a “buy” rating and a $62.00 target price on the stock. Finally, Stifel Nicolaus lifted their target price on Xenon Pharmaceuticals from $53.00 to $62.00 and gave the company a “buy” rating in a research report on Monday, December 18th.
Xenon Pharmaceuticals Stock Up 1.0 %
Xenon Pharmaceuticals (NASDAQ:XENE – Get Free Report) last released its earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.73) EPS for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.02. During the same period in the previous year, the firm posted ($0.57) earnings per share. Equities analysts anticipate that Xenon Pharmaceuticals will post -2.83 EPS for the current year.
Insider Transactions at Xenon Pharmaceuticals
In related news, Director Gary Patou sold 11,380 shares of Xenon Pharmaceuticals stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $39.29, for a total transaction of $447,120.20. Following the completion of the transaction, the director now directly owns 23,573 shares in the company, valued at $926,183.17. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 5.43% of the company’s stock.
Institutional Trading of Xenon Pharmaceuticals
A number of institutional investors have recently made changes to their positions in the company. Parallel Advisors LLC acquired a new position in Xenon Pharmaceuticals during the second quarter worth $30,000. BNP Paribas Arbitrage SA raised its position in Xenon Pharmaceuticals by 1,567.5% in the first quarter. BNP Paribas Arbitrage SA now owns 1,334 shares of the biopharmaceutical company’s stock valued at $41,000 after purchasing an additional 1,254 shares during the period. Wells Fargo & Company MN raised its holdings in shares of Xenon Pharmaceuticals by 124.6% in the 4th quarter. Wells Fargo & Company MN now owns 1,123 shares of the biopharmaceutical company’s stock valued at $44,000 after buying an additional 623 shares during the period. BNP Paribas Arbitrage SNC raised its holdings in shares of Xenon Pharmaceuticals by 40.2% in the 2nd quarter. BNP Paribas Arbitrage SNC now owns 1,441 shares of the biopharmaceutical company’s stock valued at $55,000 after buying an additional 413 shares during the period. Finally, China Universal Asset Management Co. Ltd. raised its holdings in shares of Xenon Pharmaceuticals by 98.2% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,651 shares of the biopharmaceutical company’s stock valued at $56,000 after buying an additional 818 shares during the period. 95.70% of the stock is owned by institutional investors and hedge funds.
About Xenon Pharmaceuticals
Xenon Pharmaceuticals Inc, a clinical-stage biopharmaceutical company, engages in developing therapeutics to treat patients with neurological disorders in Canada. Its clinical development pipeline includes XEN496, a Kv7 potassium channel opener that is Phase III clinical trials for the treatment of KCNQ2 developmental and epileptic encephalopathy; and XEN1101, a Kv7 potassium channel opener, which is in Phase II clinical trial for the treatment of epilepsy and other neurological disorders.
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