Xenon Pharmaceuticals (NASDAQ:XENE) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Xenon Pharmaceuticals (NASDAQ:XENE) from a strong sell rating to a sell rating in a research report released on Saturday morning,Wall Street Zen reports.

A number of other equities analysts have also recently issued reports on XENE. Wells Fargo & Company dropped their price objective on shares of Xenon Pharmaceuticals from $69.00 to $64.00 and set an “overweight” rating for the company in a research note on Friday, September 18th. Royal Bank Of Canada lowered their target price on shares of Xenon Pharmaceuticals from $81.00 to $70.00 and set an “outperform” rating on the stock in a research note on Friday, September 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of Xenon Pharmaceuticals in a research report on Monday, July 6th. Wedbush dropped their price target on shares of Xenon Pharmaceuticals from $71.00 to $55.00 and set an “outperform” rating for the company in a research report on Friday, September 18th. Finally, HC Wainwright restated a “buy” rating on shares of Xenon Pharmaceuticals in a research note on Friday, September 18th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Xenon Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $70.27.

Xenon Pharmaceuticals Trading Down 1.2%

XENE opened at $37.57 on Friday. The stock’s 50 day simple moving average is $55.75 and its 200-day simple moving average is $56.92. The stock has a market cap of $3.63 billion, a PE ratio of -7.93 and a beta of 0.60. Xenon Pharmaceuticals has a 1 year low of $36.07 and a 1 year high of $72.66.

Xenon Pharmaceuticals (NASDAQ:XENE) last issued its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($1.11) EPS for the quarter, topping the consensus estimate of ($1.16) by $0.05. During the same period in the prior year, the firm earned ($1.07) earnings per share. Equities analysts forecast that Xenon Pharmaceuticals will post -4.7 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Steven Gannon sold 10,000 shares of the business’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $64.06, for a total value of $640,600.00. Following the sale, the director owned 1,870 shares in the company, valued at approximately $119,792.20. The trade was a 84.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ian Mortimer bought 30,000 shares of the stock in a transaction dated Wednesday, September 30th. The stock was purchased at an average cost of $37.38 per share, for a total transaction of $1,121,400.00. Following the acquisition, the chief executive officer owned 49,923 shares in the company, valued at $1,866,121.74. The trade was a 150.58% increase in their position. The disclosure for this purchase is available in the SEC filing. 2.91% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Xenon Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in XENE. BlackRock Inc. acquired a new stake in shares of Xenon Pharmaceuticals during the second quarter worth approximately $454,057,000. Avoro Capital Advisors LLC grew its position in Xenon Pharmaceuticals by 0.5% during the 4th quarter. Avoro Capital Advisors LLC now owns 5,424,444 shares of the biopharmaceutical company’s stock worth $243,124,000 after acquiring an additional 24,444 shares during the last quarter. Jupiter Topco LLC bought a new stake in Xenon Pharmaceuticals during the 2nd quarter worth approximately $252,673,000. Janus Henderson Group PLC increased its holdings in Xenon Pharmaceuticals by 2.3% during the 1st quarter. Janus Henderson Group PLC now owns 4,175,982 shares of the biopharmaceutical company’s stock valued at $242,858,000 after purchasing an additional 91,948 shares in the last quarter. Finally, Capital International Investors increased its holdings in Xenon Pharmaceuticals by 7.3% during the 4th quarter. Capital International Investors now owns 3,414,959 shares of the biopharmaceutical company’s stock valued at $153,058,000 after purchasing an additional 233,466 shares in the last quarter. 95.45% of the stock is currently owned by institutional investors and hedge funds.

Xenon Pharmaceuticals Company Profile

Xenon Pharmaceuticals Inc is a clinical-stage biopharmaceutical company focused on developing medicines for neurological and psychiatric disorders. The company uses research in ion channels and neuronal signaling to identify potential treatments for conditions with significant unmet medical needs.

Xenon’s lead investigational medicine is azetukalner, also known as XEN1101, a selective potassium channel opener being evaluated for epilepsy and major depressive disorder. The company is also advancing additional programs aimed at genetically defined epilepsies and other disorders of the central nervous system.