Xenon Pharmaceuticals (NASDAQ:XENE) Cut to “Sell” at StockNews.com

StockNews.com cut shares of Xenon Pharmaceuticals (NASDAQ:XENE) from a hold rating to a sell rating in a report issued on Sunday.

Other equities research analysts have also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft started coverage on Xenon Pharmaceuticals in a report on Tuesday, February 11th. They set a “buy” rating and a $67.00 target price on the stock. William Blair reissued an “outperform” rating on shares of Xenon Pharmaceuticals in a research note on Friday, February 28th. Royal Bank of Canada reaffirmed an “outperform” rating on shares of Xenon Pharmaceuticals in a research note on Friday, February 28th. Finally, HC Wainwright reiterated a “buy” rating and issued a $53.00 price target on shares of Xenon Pharmaceuticals in a research report on Monday, February 24th. One investment analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Xenon Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $57.38.

Xenon Pharmaceuticals Stock Performance

Shares of XENE opened at $29.40 on Friday. Xenon Pharmaceuticals has a one year low of $29.20 and a one year high of $46.00. The stock’s fifty day moving average is $36.90 and its 200-day moving average is $39.43. The firm has a market capitalization of $2.25 billion, a price-to-earnings ratio of -10.43 and a beta of 1.21.

Xenon Pharmaceuticals (NASDAQ:XENE) last released its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.84) EPS for the quarter, beating the consensus estimate of ($0.89) by $0.05. Analysts forecast that Xenon Pharmaceuticals will post -3.1 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Ian Mortimer sold 22,468 shares of the company’s 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 completion of the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.52% of the stock is currently owned by company insiders.

Institutional Trading of Xenon Pharmaceuticals

Several large investors have recently added to or reduced their stakes in the company. GF Fund Management CO. LTD. purchased a new position in shares of Xenon Pharmaceuticals during the fourth quarter valued at $63,000. Quarry LP purchased a new position in Xenon Pharmaceuticals during the 4th quarter valued at about $78,000. Blue Trust Inc. increased its holdings in shares of Xenon Pharmaceuticals by 140.3% in the 4th quarter. Blue Trust Inc. now owns 2,422 shares of the biopharmaceutical company’s stock valued at $95,000 after purchasing an additional 1,414 shares during the period. Avior Wealth Management LLC purchased a new stake in shares of Xenon Pharmaceuticals in the fourth quarter worth approximately $101,000. Finally, KBC Group NV boosted its holdings in shares of Xenon Pharmaceuticals by 39.8% during the fourth quarter. KBC Group NV now owns 2,742 shares of the biopharmaceutical company’s stock worth $107,000 after purchasing an additional 780 shares during the period. 95.45% of the stock is owned by institutional investors and hedge funds.

About Xenon Pharmaceuticals

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.