Xenon Pharmaceuticals Inc. (NASDAQ:XENE) CEO Ian Mortimer Sells 16,315 Shares of Stock

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) CEO Ian Mortimer sold 16,315 shares of Xenon Pharmaceuticals stock in a transaction on Monday, January 27th. The shares were sold at an average price of $40.50, for a total value of $660,757.50. Following the transaction, the chief executive officer now owns 31,302 shares of the company’s stock, valued at $1,267,731. The trade was a 34.26 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Ian Mortimer also recently made the following trade(s):

• On Friday, January 24th, Ian Mortimer sold 22,468 shares of Xenon Pharmaceuticals stock. The shares were sold at an average price of $40.20, for a total value of $903,213.60.

Xenon Pharmaceuticals Trading Up 0.4 %

NASDAQ:XENE opened at $40.11 on Tuesday. The company has a market cap of $3.06 billion, a PE ratio of -14.22 and a beta of 1.20. The company has a 50 day simple moving average of $40.20 and a two-hundred day simple moving average of $40.82. Xenon Pharmaceuticals Inc. has a 12 month low of $35.53 and a 12 month high of $50.99.

Xenon Pharmaceuticals (NASDAQ:XENE) last released its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.81) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.82) by $0.01. During the same period in the previous year, the company earned ($0.73) earnings per share. Research analysts forecast that Xenon Pharmaceuticals Inc. will post -3.13 earnings per share for the current year.

Institutional Investors Weigh In On Xenon Pharmaceuticals

A number of large investors have recently made changes to their positions in XENE. Janus Henderson Group PLC lifted its stake in shares of Xenon Pharmaceuticals by 144.2% in the 3rd quarter. Janus Henderson Group PLC now owns 2,552,392 shares of the biopharmaceutical company’s stock worth $100,506,000 after purchasing an additional 1,507,135 shares during the period. JPMorgan Chase & Co. increased its holdings in Xenon Pharmaceuticals by 1,263.2% during the third quarter. JPMorgan Chase & Co. now owns 976,783 shares of the biopharmaceutical company’s stock valued at $38,456,000 after buying an additional 905,129 shares during the last quarter. Vestal Point Capital LP raised its position in Xenon Pharmaceuticals by 57.1% in the third quarter. Vestal Point Capital LP now owns 825,000 shares of the biopharmaceutical company’s stock worth $32,480,000 after acquiring an additional 300,000 shares during the period. Jennison Associates LLC boosted its stake in shares of Xenon Pharmaceuticals by 39.0% during the 4th quarter. Jennison Associates LLC now owns 801,553 shares of the biopharmaceutical company’s stock worth $31,421,000 after acquiring an additional 224,892 shares during the last quarter. Finally, Point72 Asset Management L.P. grew its position in shares of Xenon Pharmaceuticals by 74.7% during the 2nd quarter. Point72 Asset Management L.P. now owns 482,022 shares of the biopharmaceutical company’s stock valued at $18,794,000 after acquiring an additional 206,163 shares during the period. 95.45% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

XENE has been the topic of several recent analyst reports. Raymond James reissued an “outperform” rating and set a $50.00 price objective on shares of Xenon Pharmaceuticals in a research report on Thursday, October 10th. HC Wainwright reissued a “buy” rating and set a $53.00 price target on shares of Xenon Pharmaceuticals in a research report on Thursday, December 12th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Xenon Pharmaceuticals in a research report on Wednesday, November 13th. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $56.00.

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.