Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE - Get Free Report) traded up 5.2% during mid-day trading on Monday . The stock traded as high as $30.78 and last traded at $30.94. 420,445 shares changed hands during mid-day trading, an increase of 3% from the average session volume of 406,696 shares. The stock had previously closed at $29.40.
Analyst Upgrades and Downgrades
XENE has been the topic of several analyst reports. William Blair reissued an "outperform" rating on shares of Xenon Pharmaceuticals in a report on Friday, February 28th. StockNews.com cut shares of 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 set a "buy" rating and a $67.00 target price for the company. HC Wainwright reiterated a "buy" rating and issued a $53.00 target price on shares of Xenon Pharmaceuticals in a research report on Monday, February 24th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating on shares of Xenon Pharmaceuticals in a report on Friday, February 28th. One investment analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $57.38.
Check Out Our Latest Stock Report on XENE
Xenon Pharmaceuticals Price Performance
The firm's fifty day moving average price is $35.54 and its two-hundred day moving average price is $38.98. The stock has a market cap of $2.40 billion, a price-to-earnings ratio of -11.13 and a beta of 1.21.
Xenon Pharmaceuticals (NASDAQ:XENE - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.84) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.89) by $0.05. On average, equities research analysts anticipate 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 16,315 shares of the stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $40.50, for a total value of $660,757.50. Following the completion of the sale, the chief executive officer now owns 31,302 shares in the company, valued at $1,267,731. This represents a 34.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 5.52% of the company's stock.
Hedge Funds Weigh In On Xenon Pharmaceuticals
Hedge funds and other institutional investors have recently modified their holdings of the business. GF Fund Management CO. LTD. purchased a new position in Xenon Pharmaceuticals in the fourth quarter worth $63,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Xenon Pharmaceuticals by 17.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 191,852 shares of the biopharmaceutical company's stock worth $7,521,000 after buying an additional 29,169 shares during the last quarter. Woodline Partners LP purchased a new position in shares of Xenon Pharmaceuticals in the 4th quarter worth about $1,566,000. Vident Advisory LLC bought a new position in Xenon Pharmaceuticals during the fourth quarter valued at about $212,000. Finally, Two Sigma Advisers LP increased its holdings in Xenon Pharmaceuticals by 9.1% during the fourth quarter. Two Sigma Advisers LP now owns 298,700 shares of the biopharmaceutical company's stock worth $11,709,000 after buying an additional 25,000 shares during the last quarter. 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.
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