Xenon Pharmaceuticals (NASDAQ:XENE) Upgraded to “Sell” at Wall Street Zen

Wall Street Zen upgraded shares of Xenon Pharmaceuticals (NASDAQ:XENE) from a strong sell rating to a sell rating in a research note released on Saturday,Wall Street Zen reports.

Several other analysts also recently weighed in on XENE. Royal Bank Of Canada decreased their price target on shares of Xenon Pharmaceuticals from $81.00 to $70.00 and set an “outperform” rating for the company in a research note on Friday, September 18th. HC Wainwright reissued a “buy” rating on shares of Xenon Pharmaceuticals in a research note on Friday, September 18th. Robert W. Baird reduced their price objective on Xenon Pharmaceuticals from $97.00 to $90.00 and set an “outperform” rating on the stock in a report on Friday, September 18th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $46.00 target price (down from $90.00) on shares of Xenon Pharmaceuticals in a research report on Friday, September 18th. Finally, Wedbush lowered their target price on Xenon Pharmaceuticals from $71.00 to $55.00 and set an “outperform” rating for the company in a report on Friday, September 18th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Xenon Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $70.27.

Xenon Pharmaceuticals Trading Down 2.3%

Shares of XENE opened at $38.02 on Friday. The firm has a market capitalization of $3.68 billion, a P/E ratio of -8.02 and a beta of 0.60. Xenon Pharmaceuticals has a 12-month low of $36.07 and a 12-month high of $72.66. The firm has a fifty day moving average price of $56.32 and a 200-day moving average price of $57.02.

Xenon Pharmaceuticals (NASDAQ:XENE) last posted its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported ($1.11) EPS for the quarter, topping the consensus estimate of ($1.16) by $0.05. During the same quarter in the previous year, the company posted ($1.07) earnings per share. Analysts predict that Xenon Pharmaceuticals will post -4.7 earnings per share for the current year.

Insider Buying and Selling at Xenon Pharmaceuticals

In other news, Director Steven Gannon sold 10,000 shares of Xenon Pharmaceuticals stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $64.06, for a total value of $640,600.00. Following the transaction, the director directly owned 1,870 shares in the company, valued at approximately $119,792.20. This trade represents a 84.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Christopher Kenney sold 7,068 shares of Xenon Pharmaceuticals stock in a transaction on Friday, August 28th. The shares were sold at an average price of $60.25, for a total value of $425,847.00. Following the completion of the transaction, the insider owned 2 shares in the company, valued at $120.50. This represents a 99.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 2.91% of the stock is owned by company insiders.

Institutional Investors Weigh In On Xenon Pharmaceuticals

A number of hedge funds have recently made changes to their positions in the stock. Tidal Investments LLC boosted its holdings in shares of Xenon Pharmaceuticals by 33.1% in the 2nd quarter. Tidal Investments LLC now owns 8,283 shares of the biopharmaceutical company’s stock valued at $500,000 after buying an additional 2,058 shares in the last quarter. Engineers Gate Manager LP raised its stake in shares of Xenon Pharmaceuticals by 566.8% during the 2nd quarter. Engineers Gate Manager LP now owns 62,183 shares of the biopharmaceutical company’s stock worth $3,753,000 after acquiring an additional 52,857 shares in the last quarter. Squarepoint Ops LLC bought a new position in shares of Xenon Pharmaceuticals during the 2nd quarter worth approximately $6,813,000. Arizona State Retirement System lifted its position in Xenon Pharmaceuticals by 2.3% during the second quarter. Arizona State Retirement System now owns 22,382 shares of the biopharmaceutical company’s stock valued at $1,351,000 after acquiring an additional 513 shares during the last quarter. Finally, Nykredit A S purchased a new stake in Xenon Pharmaceuticals during the second quarter valued at approximately $67,000. 95.45% of the stock is currently owned by hedge funds and other institutional investors.

More Xenon Pharmaceuticals News

Here are the key news stories impacting Xenon Pharmaceuticals this week:

• Positive Sentiment: CEO Ian Mortimer purchased 30,000 shares for approximately $1.12 million, while CFO Thomas Patrick Kelly bought 15,000 shares for about $559,800. The combined purchases, made near $37 per share, may reassure investors that senior management views the recent weakness as an attractive entry point. Insider Buying: Xenon Pharmaceuticals CFO Buys $559,800 in Stock
• Positive Sentiment: RBC said safety issues are unlikely to derail the approval path for azetukalner (XEN1101), Xenon’s lead investigational treatment for epilepsy and major depressive disorder. This reduces concern that safety questions could materially delay a key development catalyst. Xenon’s AZK Approval Path Unlikely to Be Hurt by Safety Issues
• Neutral Sentiment: Xenon granted eight newly hired, non-officer employees 17,850 stock options and 10,500 restricted share units under Nasdaq’s inducement-grant exemption. The awards support recruitment but could modestly increase future share dilution. Xenon Pharmaceuticals Reports Inducement Grants
• Negative Sentiment: Although analysts maintain a broadly positive consensus, recent target-price reductions—including Deutsche Bank’s cut to $46 from $90—highlight continuing concerns about valuation, execution and the path to commercialization. Xenon remains loss-making, with analysts expecting a full-year loss of approximately $4.70 per share.

Xenon Pharmaceuticals Company Profile

Xenon Pharmaceuticals Inc is a clinical-stage biopharmaceutical company focused on developing medicines for neurological and psychiatric disorders. The company uses research in ion channels and neuronal signaling to identify potential treatments for conditions with significant unmet medical needs.

Xenon’s lead investigational medicine is azetukalner, also known as XEN1101, a selective potassium channel opener being evaluated for epilepsy and major depressive disorder. The company is also advancing additional programs aimed at genetically defined epilepsies and other disorders of the central nervous system.