Xenon Pharmaceuticals (NASDAQ:XENE) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of Xenon Pharmaceuticals (NASDAQ:XENE) from a hold rating to a sell rating in a research report sent to investors on Wednesday morning.

Other analysts also recently issued reports about the company. HC Wainwright reaffirmed a “buy” rating and set a $53.00 price objective on shares of Xenon Pharmaceuticals in a research note on Monday, February 24th. Royal Bank of Canada reaffirmed an “outperform” rating on shares of Xenon Pharmaceuticals in a report on Friday, February 28th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Xenon Pharmaceuticals in a research report on Tuesday, February 11th. They set a “buy” rating and a $67.00 price objective for the company. Finally, William Blair reaffirmed an “outperform” rating on shares of Xenon Pharmaceuticals in a report on Friday, February 28th. One investment analyst has rated the stock with a sell rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $56.78.

Xenon Pharmaceuticals Stock Up 4.0 %

XENE opened at $35.14 on Wednesday. Xenon Pharmaceuticals has a 52 week low of $26.74 and a 52 week high of $46.00. The business’s 50 day moving average is $35.02 and its two-hundred day moving average is $38.81. The firm has a market cap of $2.69 billion, a price-to-earnings ratio of -12.46 and a beta of 1.21.

Xenon Pharmaceuticals (NASDAQ:XENE) last announced its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.84) EPS for the quarter, beating analysts’ consensus estimates of ($0.89) by $0.05. Equities analysts expect that Xenon Pharmaceuticals will post -3.1 EPS for the current fiscal year.

Insider Transactions at Xenon Pharmaceuticals

In other Xenon Pharmaceuticals news, CEO Ian Mortimer sold 16,315 shares of the firm’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $40.50, for a total transaction of $660,757.50. Following the completion of the transaction, the chief executive officer now directly owns 31,302 shares in the company, valued at approximately $1,267,731. This trade represents a 34.26 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 5.52% of the company’s stock.

Institutional Trading of Xenon Pharmaceuticals

Several large investors have recently modified their holdings of the business. Assenagon Asset Management S.A. lifted its stake in Xenon Pharmaceuticals by 1.1% in the 1st quarter. Assenagon Asset Management S.A. now owns 241,206 shares of the biopharmaceutical company’s stock valued at $8,092,000 after buying an additional 2,684 shares in the last quarter. Harbor Capital Advisors Inc. raised its holdings in shares of Xenon Pharmaceuticals by 13.6% in the first quarter. Harbor Capital Advisors Inc. now owns 56,591 shares of the biopharmaceutical company’s stock worth $1,899,000 after acquiring an additional 6,773 shares during the last quarter. GF Fund Management CO. LTD. purchased a new stake in shares of Xenon Pharmaceuticals in the fourth quarter valued at $63,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Xenon Pharmaceuticals by 17.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 191,852 shares of the biopharmaceutical company’s stock valued at $7,521,000 after acquiring an additional 29,169 shares during the last quarter. Finally, Woodline Partners LP purchased a new stake in Xenon Pharmaceuticals during the 4th quarter worth about $1,566,000. 95.45% of the stock is currently owned by institutional investors and hedge funds.

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.