Xenon Pharmaceuticals (NASDAQ:XENE) Rating Increased to Sell 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 report published on Saturday morning.

XENE has been the subject of a number of other research reports. Needham & Company LLC dropped their price objective on shares of Xenon Pharmaceuticals from $80.00 to $78.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Wells Fargo & Company restated an “overweight” rating and issued a $69.00 target price on shares of Xenon Pharmaceuticals in a report on Sunday, May 10th. Royal Bank Of Canada upped their price target on shares of Xenon Pharmaceuticals from $80.00 to $82.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. JPMorgan Chase & Co. increased their price target on shares of Xenon Pharmaceuticals from $80.00 to $82.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 27th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Xenon Pharmaceuticals in a report on Monday, July 6th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $77.20.

Xenon Pharmaceuticals Stock Down 2.4%

Shares of NASDAQ:XENE opened at $62.67 on Friday. The company has a market cap of $6.06 billion, a P/E ratio of -13.33 and a beta of 0.61. The business has a fifty day simple moving average of $59.30 and a 200-day simple moving average of $53.40. Xenon Pharmaceuticals has a 52 week low of $30.00 and a 52 week high of $72.66.

Xenon Pharmaceuticals (NASDAQ:XENE) last released its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.17) earnings per share for the quarter, hitting the consensus estimate of ($1.17). During the same period in the previous year, the company earned ($0.83) EPS. Sell-side analysts expect that Xenon Pharmaceuticals will post -4.92 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Gary Patou sold 1,322 shares of Xenon Pharmaceuticals stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $53.14, for a total value of $70,251.08. Following the transaction, the director directly owned 24,896 shares of the company’s stock, valued at $1,322,973.44. The trade was a 5.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Gillian Cannon sold 1,190 shares of the business’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $53.14, for a total value of $63,236.60. Following the sale, the director owned 1,455 shares of the company’s stock, valued at $77,318.70. The trade was a 44.99% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 2.91% of the company’s stock.

Institutional Investors Weigh In On Xenon Pharmaceuticals

Several large investors have recently made changes to their positions in XENE. Holocene Advisors LP acquired a new position in shares of Xenon Pharmaceuticals during the second quarter worth about $56,637,000. Wellington Management Group LLP grew its stake in shares of Xenon Pharmaceuticals by 66.0% in the third quarter. Wellington Management Group LLP now owns 3,609,857 shares of the biopharmaceutical company’s stock valued at $144,936,000 after buying an additional 1,435,096 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Xenon Pharmaceuticals by 1,968.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 862,300 shares of the biopharmaceutical company’s stock valued at $38,650,000 after buying an additional 820,608 shares in the last quarter. Vestal Point Capital LP grew its stake in shares of Xenon Pharmaceuticals by 53.8% in the second quarter. Vestal Point Capital LP now owns 2,000,000 shares of the biopharmaceutical company’s stock valued at $62,600,000 after buying an additional 700,000 shares in the last quarter. Finally, Commodore Capital LP raised its holdings in shares of Xenon Pharmaceuticals by 30.1% during the 2nd quarter. Commodore Capital LP now owns 3,025,000 shares of the biopharmaceutical company’s stock valued at $94,682,000 after buying an additional 700,000 shares during the period. Institutional investors and hedge funds own 95.45% of the company’s stock.

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.