Analysts Set Xenon Pharmaceuticals Inc. (NASDAQ:XENE) PT at $56.00

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) has been assigned an average rating of “Buy” from the nine analysts that are presently covering the firm, MarketBeat reports. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $56.00.

XENE has been the subject of a number of analyst reports. Royal Bank of Canada reiterated an “outperform” rating and set a $55.00 price target on shares of Xenon Pharmaceuticals in a research report on Tuesday, September 3rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Xenon Pharmaceuticals in a report on Wednesday, November 13th. HC Wainwright reissued a “buy” rating and set a $53.00 target price on shares of Xenon Pharmaceuticals in a research note on Thursday, December 12th. Finally, Raymond James reaffirmed an “outperform” rating and issued a $50.00 price target on shares of Xenon Pharmaceuticals in a research note on Thursday, October 10th.

Insider Activity at Xenon Pharmaceuticals

In related news, Director Gary Patou sold 4,891 shares of Xenon Pharmaceuticals stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $41.08, for a total value of $200,922.28. Following the transaction, the director now owns 23,573 shares of the company’s stock, valued at approximately $968,378.84. This trade represents a 17.18 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Sherry Aulin sold 18,709 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $41.21, for a total transaction of $770,997.89. The disclosure for this sale can be found here. Company insiders own 5.52% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in XENE. Janus Henderson Group PLC lifted its position in shares of Xenon Pharmaceuticals by 144.2% in the 3rd quarter. Janus Henderson Group PLC now owns 2,552,392 shares of the biopharmaceutical company’s stock valued at $100,506,000 after acquiring an additional 1,507,135 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Xenon Pharmaceuticals by 1,263.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 976,783 shares of the biopharmaceutical company’s stock valued at $38,456,000 after purchasing an additional 905,129 shares during the period. Logos Global Management LP acquired a new stake in Xenon Pharmaceuticals during the 2nd quarter valued at $14,621,000. Vestal Point Capital LP lifted its holdings in shares of Xenon Pharmaceuticals by 57.1% in the third quarter. Vestal Point Capital LP now owns 825,000 shares of the biopharmaceutical company’s stock valued at $32,480,000 after purchasing an additional 300,000 shares in the last quarter. Finally, Samlyn Capital LLC boosted its position in shares of Xenon Pharmaceuticals by 61.5% in the second quarter. Samlyn Capital LLC now owns 639,685 shares of the biopharmaceutical company’s stock worth $24,941,000 after buying an additional 243,489 shares during the period. 95.45% of the stock is owned by hedge funds and other institutional investors.

Xenon Pharmaceuticals Stock Down 1.6 %

Shares of NASDAQ:XENE opened at $38.83 on Friday. The company’s 50-day moving average price is $41.45 and its 200 day moving average price is $40.50. The company has a market cap of $2.96 billion, a PE ratio of -13.77 and a beta of 1.19. Xenon Pharmaceuticals has a fifty-two week low of $35.53 and a fifty-two week high of $50.99.

Xenon Pharmaceuticals (NASDAQ:XENE) last released its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.81) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.82) by $0.01. During the same period in the prior year, the firm posted ($0.73) EPS. As a group, equities analysts anticipate 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.