Xenon Pharmaceuticals (NASDAQ:XENE) Insider Christopher John Kenney Sells 7,068 Shares of Stock

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) insider Christopher John Kenney sold 7,068 shares of the business’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of $60.25, for a total value of $425,847.00. Following the completion of the sale, the insider directly owned 2 shares in the company, valued at $120.50. This trade represents a 99.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Xenon Pharmaceuticals Price Performance

Shares of NASDAQ:XENE opened at $60.00 on Wednesday. Xenon Pharmaceuticals Inc. has a 1-year low of $35.60 and a 1-year high of $72.66. The business has a fifty day moving average price of $63.40 and a 200-day moving average price of $56.73. The company has a market capitalization of $5.80 billion, a PE ratio of -12.66 and a beta of 0.62.

Xenon Pharmaceuticals (NASDAQ:XENE) last announced its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported ($1.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.16) by $0.05. During the same quarter in the prior year, the firm posted ($1.07) earnings per share. On average, sell-side analysts anticipate that Xenon Pharmaceuticals Inc. will post -4.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Xenon Pharmaceuticals

Large investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. grew its holdings in Xenon Pharmaceuticals by 7.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 442,732 shares of the biopharmaceutical company’s stock valued at $14,854,000 after buying an additional 32,486 shares in the last quarter. Jump Financial LLC bought a new position in Xenon Pharmaceuticals during the second quarter valued at $532,000. Sei Investments Co. purchased a new stake in Xenon Pharmaceuticals in the 2nd quarter worth about $711,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Xenon Pharmaceuticals in the second quarter worth approximately $816,000. Finally, Alliancebernstein L.P. lifted its position in shares of Xenon Pharmaceuticals by 14.2% during the second quarter. Alliancebernstein L.P. now owns 1,518,527 shares of the biopharmaceutical company’s stock worth $47,530,000 after purchasing an additional 189,141 shares during the last quarter. Institutional investors own 95.45% of the company’s stock.

Analyst Upgrades and Downgrades

XENE has been the subject of several analyst reports. JPMorgan Chase & Co. raised their price target on shares of Xenon Pharmaceuticals from $80.00 to $82.00 and gave the company an “overweight” rating in a research report on Wednesday, May 27th. Wall Street Zen raised Xenon Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Saturday, August 1st. Royal Bank Of Canada decreased their price target on Xenon Pharmaceuticals from $82.00 to $81.00 and set an “outperform” rating for the company in a research note on Friday, August 7th. Needham & Company LLC reduced their price objective on Xenon Pharmaceuticals from $80.00 to $78.00 and set a “buy” rating for the company in a report on Friday, May 8th. Finally, HC Wainwright reissued a “buy” rating and issued a $74.00 target price on shares of Xenon Pharmaceuticals in a research report on Monday, August 10th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $77.13.

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.