Ian Mortimer Sells 22,468 Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) Stock

Xenon Pharmaceuticals Inc. (NASDAQ:XENE) CEO Ian Mortimer sold 22,468 shares of the stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $40.20, for a total transaction of $903,213.60. Following the transaction, the chief executive officer now directly owns 31,302 shares of the company’s stock, valued at $1,258,340.40. This represents a 41.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Monday, January 27th, Ian Mortimer sold 16,315 shares of Xenon Pharmaceuticals stock. The stock was sold at an average price of $40.50, for a total transaction of $660,757.50.

Xenon Pharmaceuticals Price Performance

Shares of XENE opened at $40.00 on Wednesday. The firm has a 50 day simple moving average of $40.23 and a 200-day simple moving average of $40.82. Xenon Pharmaceuticals Inc. has a 1-year low of $35.53 and a 1-year high of $50.99. The stock has a market cap of $3.05 billion, a price-to-earnings ratio of -14.18 and a beta of 1.20.

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Blue Trust Inc. increased its stake in shares of Xenon Pharmaceuticals by 174.7% during the 3rd quarter. Blue Trust Inc. now owns 1,008 shares of the biopharmaceutical company’s stock worth $39,000 after purchasing an additional 641 shares in the last quarter. Avior Wealth Management LLC acquired a new stake in Xenon Pharmaceuticals during the fourth quarter worth approximately $101,000. nVerses Capital LLC acquired a new stake in Xenon Pharmaceuticals during the third quarter worth approximately $102,000. Mirae Asset Global Investments Co. Ltd. boosted its position in Xenon Pharmaceuticals by 21.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,740 shares of the biopharmaceutical company’s stock worth $106,000 after acquiring an additional 487 shares during the last quarter. Finally, KBC Group NV boosted its position in Xenon Pharmaceuticals by 39.8% during the fourth quarter. KBC Group NV now owns 2,742 shares of the biopharmaceutical company’s stock worth $107,000 after acquiring an additional 780 shares during the last quarter. 95.45% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Xenon Pharmaceuticals Company Profile

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.