Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Get Free Report) dropped 3.1% during mid-day trading on Thursday . The company traded as low as $37.90 and last traded at $38.12. Approximately 18,162 shares were traded during trading, a decline of 95% from the average daily volume of 386,408 shares. The stock had previously closed at $39.35.
Analysts Set New Price Targets
XENE has been the subject of a number of recent research reports. Royal Bank of Canada reiterated an "outperform" rating and set a $55.00 price objective on shares of Xenon Pharmaceuticals in a research note on Tuesday, September 3rd. Raymond James reiterated an "outperform" rating and issued a $50.00 price target on shares of Xenon Pharmaceuticals in a research note on Thursday, October 10th. HC Wainwright restated a "buy" rating and issued a $53.00 price objective on shares of Xenon Pharmaceuticals in a research report on Thursday, December 12th. William Blair upgraded Xenon Pharmaceuticals to a "strong-buy" rating in a research report on Friday, August 30th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $60.00 price target on shares of Xenon Pharmaceuticals in a report on Wednesday, November 13th. Nine analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $56.33.
Read Our Latest Research Report on Xenon Pharmaceuticals
Xenon Pharmaceuticals Trading Down 1.1 %
The firm has a market cap of $2.97 billion, a P/E ratio of -13.79 and a beta of 1.19. The firm has a 50-day simple moving average of $41.93 and a 200-day simple moving average of $40.47.
Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last announced its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.81) earnings per share for the quarter, topping the consensus estimate of ($0.82) by $0.01. During the same period in the previous year, the company earned ($0.73) EPS. Research analysts predict that Xenon Pharmaceuticals Inc. will post -3.1 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, Director Gary Patou sold 4,891 shares of the firm's stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $41.08, for a total transaction of $200,922.28. Following the sale, the director now owns 23,573 shares in the company, valued at approximately $968,378.84. This trade represents a 17.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Sherry Aulin sold 18,709 shares of Xenon Pharmaceuticals stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $41.21, for a total value of $770,997.89. The disclosure for this sale can be found here. Corporate insiders own 5.52% of the company's stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. FMR LLC increased its stake in shares of Xenon Pharmaceuticals by 2.2% during the third quarter. FMR LLC now owns 6,917,684 shares of the biopharmaceutical company's stock worth $272,349,000 after purchasing an additional 149,511 shares in the last quarter. Driehaus Capital Management LLC boosted its stake in shares of Xenon Pharmaceuticals by 2.3% in the second quarter. Driehaus Capital Management LLC now owns 4,419,472 shares of the biopharmaceutical company's stock worth $172,315,000 after acquiring an additional 97,732 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Xenon Pharmaceuticals by 0.4% in the third quarter. Wellington Management Group LLP now owns 3,843,447 shares of the biopharmaceutical company's stock worth $151,317,000 after acquiring an additional 15,226 shares during the last quarter. Braidwell LP raised its stake in Xenon Pharmaceuticals by 5.7% in the 3rd quarter. Braidwell LP now owns 2,707,255 shares of the biopharmaceutical company's stock valued at $106,585,000 after purchasing an additional 146,682 shares during the last quarter. Finally, Janus Henderson Group PLC raised its holdings in Xenon Pharmaceuticals by 144.2% in the 3rd quarter. Janus Henderson Group PLC now owns 2,552,392 shares of the biopharmaceutical company's stock valued at $100,506,000 after acquiring an additional 1,507,135 shares during the last quarter. Hedge funds and other institutional investors 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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