Xenon Pharmaceuticals (NASDAQ:XENE) Shares Cross Above 50-Day Moving Average – Here’s What Happened

Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) crossed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $42.66 and traded as high as $43.00. Xenon Pharmaceuticals shares last traded at $41.62, with a volume of 718,336 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Needham & Company LLC reiterated a “buy” rating and set a $55.00 price target on shares of Xenon Pharmaceuticals in a research report on Tuesday, November 4th. Cantor Fitzgerald reissued an “overweight” rating and set a $55.00 target price on shares of Xenon Pharmaceuticals in a research note on Tuesday, November 4th. JPMorgan Chase & Co. upped their price target on shares of Xenon Pharmaceuticals from $60.00 to $62.00 and gave the stock an “overweight” rating in a research report on Friday, January 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Xenon Pharmaceuticals in a report on Friday, January 9th. Finally, Stifel Nicolaus set a $66.00 target price on Xenon Pharmaceuticals in a report on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Xenon Pharmaceuticals has an average rating of “Buy” and an average price target of $54.73.

Xenon Pharmaceuticals Stock Performance

The company has a market cap of $3.21 billion, a PE ratio of -10.66 and a beta of 0.96. The firm’s 50 day moving average is $42.59 and its 200-day moving average is $40.27.

Insider Activity

In other news, CEO Ian Mortimer sold 40,000 shares of Xenon Pharmaceuticals stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $44.43, for a total transaction of $1,777,200.00. Following the transaction, the chief executive officer owned 6,000 shares in the company, valued at $266,580. The trade was a 86.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders sold 65,302 shares of company stock valued at $2,924,128. 4.07% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. increased its stake in Xenon Pharmaceuticals by 7.9% during the first quarter. Goldman Sachs Group Inc. now owns 442,732 shares of the biopharmaceutical company’s stock worth $14,854,000 after acquiring an additional 32,486 shares during the last quarter. Mutual of America Capital Management LLC grew its holdings in shares of Xenon Pharmaceuticals by 96.0% during the 2nd quarter. Mutual of America Capital Management LLC now owns 95,568 shares of the biopharmaceutical company’s stock worth $2,991,000 after purchasing an additional 46,805 shares during the period. State of New Jersey Common Pension Fund D increased its position in shares of Xenon Pharmaceuticals by 22.5% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 61,772 shares of the biopharmaceutical company’s stock worth $1,933,000 after purchasing an additional 11,355 shares during the last quarter. Assetmark Inc. raised its holdings in Xenon Pharmaceuticals by 6.6% in the 2nd quarter. Assetmark Inc. now owns 21,250 shares of the biopharmaceutical company’s stock valued at $665,000 after buying an additional 1,316 shares during the period. Finally, Amalgamated Bank purchased a new stake in Xenon Pharmaceuticals in the 2nd quarter valued at about $81,000. 95.45% of the stock is currently owned by institutional investors and hedge funds.

Xenon Pharmaceuticals Company Profile

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.