Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) was downgraded by research analysts at StockNews.com from a "hold" rating to a "sell" rating in a research report issued on Wednesday.
A number of other brokerages also recently weighed in on XENE. Deutsche Bank Aktiengesellschaft started coverage on Xenon Pharmaceuticals in a report on Tuesday, February 11th. They issued a "buy" rating and a $67.00 target price for the company. HC Wainwright reaffirmed a "buy" rating and issued a $53.00 price target on shares of Xenon Pharmaceuticals in a research note on Monday, February 24th. Royal Bank of Canada reissued an "outperform" rating on shares of Xenon Pharmaceuticals in a research report on Friday, February 28th. Finally, William Blair reaffirmed an "outperform" rating on shares of Xenon Pharmaceuticals in a research note on Friday, February 28th. One equities research analyst has rated the stock with a sell rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $56.78.
View Our Latest Analysis on Xenon Pharmaceuticals
Xenon Pharmaceuticals Price Performance
Shares of Xenon Pharmaceuticals stock traded up $1.36 during midday trading on Wednesday, reaching $35.14. The company had a trading volume of 825,775 shares, compared to its average volume of 436,983. The stock has a fifty day moving average price of $35.02 and a 200 day moving average price of $38.81. Xenon Pharmaceuticals has a fifty-two week low of $26.74 and a fifty-two week high of $46.00. The firm has a market cap of $2.69 billion, a PE ratio of -12.46 and a beta of 1.21.
Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($0.84) earnings per share for the quarter, topping the consensus estimate of ($0.89) by $0.05. As a group, sell-side analysts forecast that Xenon Pharmaceuticals will post -3.1 EPS for the current year.
Insiders Place Their Bets
In related news, CEO Ian Mortimer sold 22,468 shares of the company's stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $40.20, for a total transaction of $903,213.60. Following the sale, the chief executive officer now directly owns 31,302 shares in the company, valued at approximately $1,258,340.40. This represents a 41.79 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 5.52% of the company's stock.
Institutional Investors Weigh In On Xenon Pharmaceuticals
Institutional investors have recently made changes to their positions in the stock. GF Fund Management CO. LTD. bought a new stake in shares of Xenon Pharmaceuticals during the 4th quarter valued at $63,000. Quarry LP bought a new stake in shares of Xenon Pharmaceuticals during the fourth quarter valued at about $78,000. Blue Trust Inc. increased its position in shares of Xenon Pharmaceuticals by 140.3% during the fourth quarter. Blue Trust Inc. now owns 2,422 shares of the biopharmaceutical company's stock valued at $95,000 after buying an additional 1,414 shares during the period. Avior Wealth Management LLC purchased a new stake in shares of Xenon Pharmaceuticals in the fourth quarter worth about $101,000. Finally, KBC Group NV boosted its position in shares of Xenon Pharmaceuticals by 39.8% in the fourth quarter. KBC Group NV now owns 2,742 shares of the biopharmaceutical company's stock valued at $107,000 after acquiring an additional 780 shares during the period. Hedge funds and other institutional investors own 95.45% of the company's stock.
Xenon Pharmaceuticals Company Profile
(
Get Free Report)
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.
Featured Articles
Before you consider Xenon Pharmaceuticals, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Xenon Pharmaceuticals wasn't on the list.
While Xenon Pharmaceuticals currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
