Brokerages Set Xenon Pharmaceuticals Inc. (NASDAQ:XENE) PT at $58.78

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) has earned a consensus rating of “Buy” from the ten research firms that are currently covering the company, MarketBeat.com reports. Nine research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $58.78.

Several research analysts have recently issued reports on XENE shares. Cantor Fitzgerald restated an “overweight” rating and issued a $65.00 price target on shares of Xenon Pharmaceuticals in a research report on Friday, August 9th. Needham & Company LLC reduced their target price on Xenon Pharmaceuticals from $62.00 to $60.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $55.00 price target on shares of Xenon Pharmaceuticals in a research note on Tuesday, September 3rd. Wedbush reduced their price objective on shares of Xenon Pharmaceuticals from $50.00 to $49.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Finally, William Blair upgraded shares of Xenon Pharmaceuticals to a “strong-buy” rating in a report on Friday, August 30th.

Xenon Pharmaceuticals Trading Up 1.7 %

Shares of NASDAQ XENE opened at $40.79 on Friday. Xenon Pharmaceuticals has a 1 year low of $27.99 and a 1 year high of $50.99. The firm’s 50-day moving average is $40.86 and its 200-day moving average is $40.70. The firm has a market capitalization of $3.09 billion, a PE ratio of -15.05 and a beta of 1.25.

Xenon Pharmaceuticals (NASDAQ:XENE) last announced its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.75) earnings per share for the quarter, missing the consensus estimate of ($0.70) by ($0.05). During the same quarter last year, the business posted ($0.72) EPS. As a group, equities research analysts anticipate that Xenon Pharmaceuticals will post -3.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Xenon Pharmaceuticals

Large investors have recently made changes to their positions in the stock. Avoro Capital Advisors LLC boosted its stake in Xenon Pharmaceuticals by 15.6% in the 4th quarter. Avoro Capital Advisors LLC now owns 5,666,666 shares of the biopharmaceutical company’s stock worth $261,007,000 after purchasing an additional 766,666 shares during the period. Driehaus Capital Management LLC raised its position in Xenon Pharmaceuticals by 2.3% in the 2nd quarter. Driehaus Capital Management LLC now owns 4,419,472 shares of the biopharmaceutical company’s stock valued at $172,315,000 after buying an additional 97,732 shares during the last quarter. Wellington Management Group LLP lifted its stake in Xenon Pharmaceuticals by 140.9% in the 4th quarter. Wellington Management Group LLP now owns 4,162,654 shares of the biopharmaceutical company’s stock valued at $191,732,000 after acquiring an additional 2,434,546 shares in the last quarter. Capital World Investors boosted its position in Xenon Pharmaceuticals by 17.9% during the 4th quarter. Capital World Investors now owns 2,681,537 shares of the biopharmaceutical company’s stock worth $123,512,000 after acquiring an additional 406,563 shares during the last quarter. Finally, Capital International Investors grew its stake in shares of Xenon Pharmaceuticals by 0.8% during the 1st quarter. Capital International Investors now owns 2,475,859 shares of the biopharmaceutical company’s stock worth $106,586,000 after acquiring an additional 20,176 shares in the last quarter. Institutional investors own 95.45% of the company’s stock.

Xenon Pharmaceuticals Company Profile

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.