Xenon Pharmaceuticals (NASDAQ:XENE) Trading 4.2% Higher

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) shares traded up 4.2% during trading on Friday . The company traded as high as $30.35 and last traded at $30.35. 4,845 shares were traded during mid-day trading, a decline of 99% from the average session volume of 495,028 shares. The stock had previously closed at $29.13.

A number of research analysts have recently commented on the company. SVB Leerink raised their target price on Xenon Pharmaceuticals from $34.00 to $40.00 and gave the company an “outperform” rating in a research note on Thursday, November 11th. TheStreet cut Xenon Pharmaceuticals from a “c-” rating to a “d+” rating in a research note on Wednesday, September 22nd. Royal Bank of Canada assumed coverage on Xenon Pharmaceuticals in a research note on Thursday, October 28th. They issued an “outperform” rating and a $43.00 target price for the company. Needham & Company LLC raised their target price on Xenon Pharmaceuticals from $25.00 to $48.00 and gave the company a “buy” rating in a research note on Monday, October 4th. Finally, Guggenheim lifted their target price on Xenon Pharmaceuticals from $30.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, October 4th. One analyst has rated the stock with a sell rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $44.00.

The business has a 50 day moving average price of $29.30 and a 200 day moving average price of $23.36.

Xenon Pharmaceuticals (NASDAQ:XENE) last posted its earnings results on Wednesday, November 10th. The biopharmaceutical company reported ($0.36) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.08. The company had revenue of $8.12 million during the quarter, compared to analyst estimates of $7.76 million. Xenon Pharmaceuticals had a negative return on equity of 28.30% and a negative net margin of 328.86%. During the same quarter in the prior year, the business earned ($0.25) earnings per share. As a group, equities analysts predict that Xenon Pharmaceuticals Inc. will post -1.71 earnings per share for the current fiscal year.

In other news, insider Seggern Christopher Von bought 4,000 shares of the stock in a transaction dated Monday, December 6th. The shares were acquired at an average cost of $24.40 per share, with a total value of $97,600.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Simon N. Pimstone sold 17,557 shares of the stock in a transaction dated Monday, November 15th. The stock was sold at an average price of $31.33, for a total transaction of $550,060.81. The disclosure for this sale can be found here. Corporate insiders own 7.48% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Morgan Stanley lifted its stake in Xenon Pharmaceuticals by 101.7% in the 1st quarter. Morgan Stanley now owns 4,959 shares of the biopharmaceutical company’s stock worth $89,000 after purchasing an additional 2,500 shares in the last quarter. Citigroup Inc. increased its holdings in shares of Xenon Pharmaceuticals by 212.2% during the 2nd quarter. Citigroup Inc. now owns 3,000 shares of the biopharmaceutical company’s stock worth $56,000 after buying an additional 2,039 shares during the last quarter. International Biotechnology Trust PLC acquired a new stake in shares of Xenon Pharmaceuticals during the 2nd quarter worth approximately $474,000. Susquehanna International Group LLP increased its holdings in shares of Xenon Pharmaceuticals by 100.1% during the 2nd quarter. Susquehanna International Group LLP now owns 51,981 shares of the biopharmaceutical company’s stock worth $968,000 after buying an additional 25,999 shares during the last quarter. Finally, BlackRock Inc. increased its holdings in shares of Xenon Pharmaceuticals by 3.3% during the 2nd quarter. BlackRock Inc. now owns 411,252 shares of the biopharmaceutical company’s stock worth $7,658,000 after buying an additional 13,129 shares during the last quarter. 69.16% of the stock is currently owned by hedge funds and other institutional investors.

About Xenon Pharmaceuticals (NASDAQ:XENE)

Xenon Pharmaceuticals, Inc is a clinical stage biopharmaceutical company. It develops therapeutics to improve the lives of patients with neurological disorders, including rare central nervous system (CNS) conditions. The company’s products include XEN496, XEN1101, XEN901 and XEN007. Xenon Pharmaceuticals was founded by Simon Neil Pimstone, Johannes J.

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