Insider Selling: Xenon Pharmaceuticals (NASDAQ:XENE) Director Sells 1,322 Shares of Stock

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) Director Gary Patou sold 1,322 shares of the company’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $53.14, for a total transaction of $70,251.08. Following the completion of the sale, the director directly owned 24,896 shares in the company, valued at $1,322,973.44. This represents a 5.04% 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 link.

Xenon Pharmaceuticals Price Performance

XENE traded down $0.52 during trading on Monday, hitting $51.21. The company had a trading volume of 1,181,045 shares, compared to its average volume of 1,258,214. The company has a market cap of $4.95 billion, a PE ratio of -10.90 and a beta of 0.62. The business has a 50-day moving average of $55.74 and a 200-day moving average of $48.68. Xenon Pharmaceuticals Inc. has a 1-year low of $30.00 and a 1-year high of $63.95.

Xenon Pharmaceuticals (NASDAQ:XENE) last issued its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.17) earnings per share for the quarter, hitting analysts’ consensus estimates of ($1.17). During the same quarter last year, the firm earned ($0.83) EPS. Research analysts forecast that Xenon Pharmaceuticals Inc. will post -4.92 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in XENE. Danske Bank A S acquired a new position in shares of Xenon Pharmaceuticals in the third quarter worth about $32,000. Blue Trust Inc. boosted its holdings in shares of Xenon Pharmaceuticals by 2,560.7% in the fourth quarter. Blue Trust Inc. now owns 745 shares of the biopharmaceutical company’s stock worth $33,000 after buying an additional 717 shares during the period. Kestra Advisory Services LLC acquired a new position in shares of Xenon Pharmaceuticals in the fourth quarter worth about $33,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Xenon Pharmaceuticals in the third quarter worth about $39,000. Finally, Osaic Holdings Inc. boosted its holdings in shares of Xenon Pharmaceuticals by 541.4% in the second quarter. Osaic Holdings Inc. now owns 1,225 shares of the biopharmaceutical company’s stock worth $40,000 after buying an additional 1,034 shares during the period. 95.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Robert W. Baird increased their price objective on shares of Xenon Pharmaceuticals from $63.00 to $97.00 and gave the stock an “outperform” rating in a report on Monday, March 9th. Jefferies Financial Group set a $100.00 price objective on shares of Xenon Pharmaceuticals in a report on Monday, March 9th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Xenon Pharmaceuticals from $56.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, March 10th. Bank of America reaffirmed a “buy” rating on shares of Xenon Pharmaceuticals in a report on Monday, March 9th. Finally, Royal Bank Of Canada increased their price objective on shares of Xenon Pharmaceuticals from $80.00 to $82.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $77.20.

About Xenon Pharmaceuticals

Xenon Pharmaceuticals Inc is a clinical?stage biopharmaceutical company dedicated to discovering and developing novel, small?molecule drugs targeting ion channels in the central and peripheral nervous system. The company’s research focus centers on neurological and pain disorders—including epilepsy, migraine, and neuropathic pain—by modulating key ion?channel proteins to restore normal neuronal function. Xenon’s scientific platform draws upon advances in ion?channel biology and structure?based drug design to identify and optimize therapeutic candidates with the potential for improved safety and efficacy profiles compared with existing treatments.

The company’s pipeline comprises multiple preclinical and clinical programs.