StockNews.com upgraded shares of Xenon Pharmaceuticals (NASDAQ:XENE - Free Report) from a sell rating to a hold rating in a report published on Saturday.
A number of other equities analysts also recently weighed in on the company. Royal Bank of Canada reiterated an "outperform" rating on shares of Xenon Pharmaceuticals in a report on Friday, February 28th. HC Wainwright reiterated a "buy" rating and issued a $53.00 price objective on shares of Xenon Pharmaceuticals in a research note on Monday, February 24th. Deutsche Bank Aktiengesellschaft began coverage on shares of Xenon Pharmaceuticals in a research report on Tuesday, February 11th. They issued a "buy" rating and a $67.00 target price for the company. Finally, William Blair restated an "outperform" rating on shares of Xenon Pharmaceuticals in a report on Friday, February 28th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $57.38.
Get Our Latest Stock Analysis on XENE
Xenon Pharmaceuticals Price Performance
Xenon Pharmaceuticals stock traded up $0.82 during midday trading on Friday, reaching $31.46. The stock had a trading volume of 1,099,246 shares, compared to its average volume of 401,902. The firm's fifty day simple moving average is $37.29 and its two-hundred day simple moving average is $39.57. Xenon Pharmaceuticals has a twelve month low of $30.38 and a twelve month high of $46.00. The firm has a market cap of $2.41 billion, a price-to-earnings ratio of -11.16 and a beta of 1.26.
Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.84) earnings per share for the quarter, beating analysts' consensus estimates of ($0.89) by $0.05. As a group, sell-side analysts predict that Xenon Pharmaceuticals will post -3.1 EPS for the current fiscal year.
Insider Activity
In other Xenon Pharmaceuticals news, CEO Ian Mortimer sold 16,315 shares of the stock in a transaction on Monday, January 27th. The shares were sold at an average price of $40.50, for a total transaction of $660,757.50. Following the transaction, the chief executive officer now directly owns 31,302 shares of the company's stock, valued at $1,267,731. This represents a 34.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 5.52% of the stock is owned by insiders.
Institutional Trading of Xenon Pharmaceuticals
A number of institutional investors and hedge funds have recently made changes to their positions in XENE. JPMorgan Chase & Co. raised its stake in shares of Xenon Pharmaceuticals by 1,263.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 976,783 shares of the biopharmaceutical company's stock valued at $38,456,000 after acquiring an additional 905,129 shares in the last quarter. Barclays PLC grew its holdings in Xenon Pharmaceuticals by 1,275.5% during the third quarter. Barclays PLC now owns 14,993 shares of the biopharmaceutical company's stock valued at $590,000 after purchasing an additional 13,903 shares during the last quarter. Walleye Capital LLC bought a new position in shares of Xenon Pharmaceuticals in the third quarter valued at approximately $4,132,000. Assenagon Asset Management S.A. lifted its stake in shares of Xenon Pharmaceuticals by 12.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 238,522 shares of the biopharmaceutical company's stock worth $9,350,000 after buying an additional 26,235 shares during the last quarter. Finally, State Street Corp lifted its stake in shares of Xenon Pharmaceuticals by 13.2% in the third quarter. State Street Corp now owns 279,513 shares of the biopharmaceutical company's stock worth $11,004,000 after buying an additional 32,701 shares during the last quarter. Institutional investors and hedge funds own 95.45% of the company's stock.
About Xenon Pharmaceuticals
(
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.
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