Xenon Pharmaceuticals Inc. (NASDAQ:XENE) Stock Has Average Target Price of $70.27

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) has earned a consensus rating of “Moderate Buy” from the seventeen ratings firms that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation, thirteen have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $70.27.

A number of analysts recently issued reports on XENE shares. Royal Bank Of Canada lowered their price target on Xenon Pharmaceuticals from $81.00 to $70.00 and set an “outperform” rating for the company in a report on Friday, September 18th. Robert W. Baird reduced their price objective on Xenon Pharmaceuticals from $97.00 to $90.00 and set an “outperform” rating on the stock in a report on Friday, September 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Xenon Pharmaceuticals in a research report on Friday. HC Wainwright reaffirmed a “buy” rating on shares of Xenon Pharmaceuticals in a research report on Friday, September 18th. Finally, Needham & Company LLC lowered their target price on Xenon Pharmaceuticals from $78.00 to $60.00 and set a “buy” rating for the company in a report on Friday, September 18th.

Xenon Pharmaceuticals Price Performance

Shares of XENE opened at $37.57 on Friday. The firm has a market capitalization of $3.63 billion, a price-to-earnings ratio of -7.93 and a beta of 0.60. Xenon Pharmaceuticals has a 1-year low of $36.07 and a 1-year high of $72.66. The company has a 50-day moving average of $55.75 and a 200 day moving average of $56.92.

Xenon Pharmaceuticals (NASDAQ:XENE) last issued its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($1.11) EPS for the quarter, topping analysts’ consensus estimates of ($1.16) by $0.05. During the same quarter in the prior year, the company earned ($1.07) earnings per share. On average, equities analysts anticipate that Xenon Pharmaceuticals will post -4.7 earnings per share for the current fiscal year.

Insider Transactions at Xenon Pharmaceuticals

In other Xenon Pharmaceuticals news, insider Christopher Kenney sold 7,068 shares of the stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $60.25, for a total transaction of $425,847.00. Following the transaction, the insider directly owned 2 shares in the company, valued at $120.50. This represents a 99.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Thomas Patrick Kelly bought 15,000 shares of the business’s stock in a transaction on Wednesday, September 30th. The shares were acquired at an average cost of $37.32 per share, for a total transaction of $559,800.00. Following the transaction, the chief financial officer directly owned 15,000 shares in the company, valued at approximately $559,800. This trade represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. 2.91% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Xenon Pharmaceuticals

Several large investors have recently modified their holdings of XENE. BlackRock Inc. bought a new position in shares of Xenon Pharmaceuticals during the second quarter valued at approximately $454,057,000. Jupiter Topco LLC purchased a new position in Xenon Pharmaceuticals during the second quarter valued at approximately $252,673,000. Avoro Capital Advisors LLC raised its stake in Xenon Pharmaceuticals by 0.5% in the fourth quarter. Avoro Capital Advisors LLC now owns 5,424,444 shares of the biopharmaceutical company’s stock worth $243,124,000 after buying an additional 24,444 shares in the last quarter. Janus Henderson Group PLC raised its stake in Xenon Pharmaceuticals by 2.3% in the first quarter. Janus Henderson Group PLC now owns 4,175,982 shares of the biopharmaceutical company’s stock worth $242,858,000 after buying an additional 91,948 shares in the last quarter. Finally, Capital International Investors lifted its holdings in Xenon Pharmaceuticals by 7.3% during the fourth quarter. Capital International Investors now owns 3,414,959 shares of the biopharmaceutical company’s stock worth $153,058,000 after buying an additional 233,466 shares during the period. Institutional investors own 95.45% of the company’s stock.

About Xenon Pharmaceuticals

Xenon Pharmaceuticals Inc is a clinical-stage biopharmaceutical company focused on developing medicines for neurological and psychiatric disorders. The company uses research in ion channels and neuronal signaling to identify potential treatments for conditions with significant unmet medical needs.

Xenon’s lead investigational medicine is azetukalner, also known as XEN1101, a selective potassium channel opener being evaluated for epilepsy and major depressive disorder. The company is also advancing additional programs aimed at genetically defined epilepsies and other disorders of the central nervous system.