Xenon Pharmaceuticals Inc. (NASDAQ:XENE) Receives $77.13 Average PT from Brokerages

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) has been assigned an average rating of “Buy” from the seventeen brokerages that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $77.1333.

A number of research analysts have commented on the company. HC Wainwright reaffirmed a “buy” rating and set a $74.00 target price on shares of Xenon Pharmaceuticals in a report on Monday, August 10th. Royal Bank Of Canada reduced their price objective on Xenon Pharmaceuticals from $82.00 to $81.00 and set an “outperform” rating for the company in a research report on Friday, August 7th. Wall Street Zen raised shares of Xenon Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 1st. Weiss Ratings restated a “sell (d-)” rating on shares of Xenon Pharmaceuticals in a research note on Monday, July 6th. Finally, JPMorgan Chase & Co. lifted their price target on Xenon Pharmaceuticals from $80.00 to $82.00 and gave the company an “overweight” rating in a report on Wednesday, May 27th.

Insider Buying and Selling at Xenon Pharmaceuticals

In other Xenon Pharmaceuticals news, Director Steven Gannon sold 10,000 shares of Xenon Pharmaceuticals stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $64.06, for a total transaction of $640,600.00. Following the sale, the director owned 1,870 shares of the company’s stock, valued at $119,792.20. The trade was a 84.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Christopher Kenney sold 7,068 shares of the stock in a transaction on Friday, August 28th. The stock was sold at an average price of $60.25, for a total value of $425,847.00. Following the completion of the transaction, the insider directly owned 2 shares of the company’s stock, valued at approximately $120.50. The trade was a 99.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 2.91% of the stock is owned by insiders.

Hedge Funds Weigh In On Xenon Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of XENE. BlackRock Inc. acquired a new position in shares of Xenon Pharmaceuticals during the second quarter valued at approximately $454,057,000. California State Teachers Retirement System boosted its stake in Xenon Pharmaceuticals by 5,935.5% during the 2nd quarter. California State Teachers Retirement System now owns 5,597,786 shares of the biopharmaceutical company’s stock valued at $337,882,000 after purchasing an additional 5,505,039 shares in the last quarter. Jupiter Topco LLC acquired a new position in shares of Xenon Pharmaceuticals during the 2nd quarter valued at $252,673,000. Holocene Advisors LP acquired a new position in shares of Xenon Pharmaceuticals during the 2nd quarter valued at $56,637,000. Finally, Wellington Management Group LLP raised its stake in shares of Xenon Pharmaceuticals by 66.0% in the 3rd quarter. Wellington Management Group LLP now owns 3,609,857 shares of the biopharmaceutical company’s stock worth $144,936,000 after buying an additional 1,435,096 shares in the last quarter. Institutional investors own 95.45% of the company’s stock.

Xenon Pharmaceuticals Trading Down 0.3%

Shares of NASDAQ:XENE opened at $58.80 on Tuesday. The firm has a market cap of $5.68 billion, a PE ratio of -12.41 and a beta of 0.61. The company has a fifty day simple moving average of $63.47 and a 200 day simple moving average of $57.60. Xenon Pharmaceuticals has a 12-month low of $35.60 and a 12-month high of $72.66.

Xenon Pharmaceuticals (NASDAQ:XENE) last posted its quarterly earnings data on Thursday, August 6th. The biopharmaceutical company reported ($1.11) EPS for the quarter, beating analysts’ consensus estimates of ($1.16) by $0.05. During the same quarter in the prior year, the company earned ($1.07) EPS. As a group, equities research analysts forecast that Xenon Pharmaceuticals will post -4.73 EPS for the current fiscal year.

Xenon Pharmaceuticals Company Profile

Xenon Pharmaceuticals Inc (NASDAQ:XENE) is a clinical-stage biopharmaceutical company focused on developing medicines for neurological and psychiatric disorders. The company uses its expertise in ion channels, which regulate the electrical activity of nerve cells, to discover and advance potential treatments for conditions with significant unmet medical needs.

Xenon’s leading investigational product is azetukalner (XEN1101), an oral, small-molecule potassium-channel opener being studied in epilepsy, including focal-onset seizures, and major depressive disorder.