Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Get Free Report) shares reached a new 52-week low on Tuesday . The stock traded as low as $27.56 and last traded at $30.63, with a volume of 2250985 shares. The stock had previously closed at $29.40.
Wall Street Analyst Weigh In
A number of research analysts have recently issued reports on XENE shares. Royal Bank of Canada reiterated an "outperform" rating on shares of Xenon Pharmaceuticals in a report on Friday, February 28th. StockNews.com downgraded Xenon Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Sunday, April 6th. Deutsche Bank Aktiengesellschaft initiated coverage on Xenon Pharmaceuticals in a research note on Tuesday, February 11th. They issued a "buy" rating and a $67.00 price objective for the company. William Blair reaffirmed an "outperform" rating on shares of Xenon Pharmaceuticals in a research report on Friday, February 28th. Finally, HC Wainwright reissued a "buy" rating and issued a $53.00 price target on shares of Xenon Pharmaceuticals in a research report on Monday, February 24th. One research analyst has rated the stock with a sell rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $57.38.
View Our Latest Stock Analysis on XENE
Xenon Pharmaceuticals Stock Performance
The company has a market capitalization of $2.40 billion, a P/E ratio of -11.13 and a beta of 1.21. The stock has a 50 day moving average price of $35.54 and a 200 day moving average price of $38.98.
Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last released its 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 expect that Xenon Pharmaceuticals Inc. will post -3.1 earnings per share for the current year.
Insiders Place Their Bets
In other news, CEO Ian Mortimer sold 22,468 shares of the stock in a transaction on Friday, January 24th. The stock was sold at an average price of $40.20, for a total transaction of $903,213.60. Following the completion of the transaction, the chief executive officer now owns 31,302 shares in the company, valued at approximately $1,258,340.40. This represents a 41.79 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 5.52% of the company's stock.
Institutional Investors Weigh In On Xenon Pharmaceuticals
Several institutional investors have recently added to or reduced their stakes in the business. State Street Corp raised its position 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 valued at $11,004,000 after purchasing an additional 32,701 shares during the period. Barclays PLC grew its stake in Xenon Pharmaceuticals by 1,275.5% in the 3rd quarter. Barclays PLC now owns 14,993 shares of the biopharmaceutical company's stock valued at $590,000 after buying an additional 13,903 shares in the last quarter. Vestcor Inc bought a new stake in Xenon Pharmaceuticals during the 3rd quarter valued at $327,000. JPMorgan Chase & Co. lifted its position in shares of Xenon Pharmaceuticals by 1,263.2% during the third quarter. JPMorgan Chase & Co. now owns 976,783 shares of the biopharmaceutical company's stock worth $38,456,000 after acquiring an additional 905,129 shares in the last quarter. Finally, Harbor Capital Advisors Inc. lifted its position in shares of Xenon Pharmaceuticals by 3.7% during the fourth quarter. Harbor Capital Advisors Inc. now owns 49,818 shares of the biopharmaceutical company's stock worth $1,953,000 after acquiring an additional 1,755 shares in the last quarter. 95.45% of the stock is owned by hedge funds and other institutional investors.
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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