Xenon Pharmaceuticals (NASDAQ:XENE) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of Xenon Pharmaceuticals (NASDAQ:XENE) from a sell rating to a hold rating in a report published on Saturday morning.

XENE has been the topic of a number of other reports. William Blair reaffirmed an “outperform” rating on shares of Xenon Pharmaceuticals in a report on Friday, February 28th. Royal Bank of Canada restated an “outperform” rating on shares of Xenon Pharmaceuticals in a research note on Friday, February 28th. HC Wainwright reiterated a “buy” rating and issued a $53.00 price target on shares of Xenon Pharmaceuticals in a research note on Monday, February 24th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Xenon Pharmaceuticals in a report on Tuesday, February 11th. They set a “buy” rating and a $67.00 price objective for the company. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $57.38.

Xenon Pharmaceuticals Price Performance

Shares of Xenon Pharmaceuticals stock opened at $34.26 on Friday. The stock has a market cap of $2.62 billion, a price-to-earnings ratio of -12.15 and a beta of 1.26. Xenon Pharmaceuticals has a 1 year low of $33.27 and a 1 year high of $46.00. The firm’s 50-day moving average is $37.72 and its 200 day moving average is $39.73.

Xenon Pharmaceuticals (NASDAQ:XENE) last announced its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.84) earnings per share for the quarter, beating the consensus estimate of ($0.89) by $0.05. On average, equities analysts expect that Xenon Pharmaceuticals will post -3.1 EPS for the current fiscal year.

Insider Buying and Selling

In other Xenon Pharmaceuticals news, CEO Ian Mortimer sold 22,468 shares of the stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $40.20, for a total value of $903,213.60. Following the transaction, the chief executive officer now directly owns 31,302 shares in the company, valued at approximately $1,258,340.40. This trade represents a 41.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.52% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Xenon Pharmaceuticals

A number of hedge funds have recently modified their holdings of the business. GF Fund Management CO. LTD. bought a new position in Xenon Pharmaceuticals in the 4th quarter worth $63,000. Quarry LP bought a new position in shares of Xenon Pharmaceuticals in the fourth quarter worth about $78,000. Blue Trust Inc. lifted its position in shares of Xenon Pharmaceuticals by 140.3% during the 4th 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 in the last quarter. Avior Wealth Management LLC bought a new position in shares of Xenon Pharmaceuticals during the 4th quarter valued at approximately $101,000. Finally, KBC Group NV increased its holdings in Xenon Pharmaceuticals by 39.8% in the 4th quarter. KBC Group NV now owns 2,742 shares of the biopharmaceutical company’s stock worth $107,000 after acquiring an additional 780 shares in the last quarter. Institutional investors own 95.45% of the company’s stock.

Xenon Pharmaceuticals Company Profile

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.