Xenon Pharmaceuticals (NASDAQ:XENE) Downgraded to Sell Rating by StockNews.com

Xenon Pharmaceuticals (NASDAQ:XENE) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Sunday.

A number of other equities analysts have also recently issued reports on XENE. HC Wainwright restated a “buy” rating and set a $53.00 price objective on shares of Xenon Pharmaceuticals in a report on Monday, February 24th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Xenon Pharmaceuticals in a research note on Tuesday, February 11th. They set a “buy” rating and a $67.00 target price for the company. William Blair reaffirmed an “outperform” rating on shares of Xenon Pharmaceuticals in a research note on Friday, February 28th. Finally, Royal Bank of Canada reissued an “outperform” rating on shares of Xenon Pharmaceuticals in a research report on Friday, February 28th. One analyst has rated the stock with a sell rating and nine have given a buy rating to the company. According to MarketBeat.com, Xenon Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $57.38.

Xenon Pharmaceuticals Trading Up 4.2 %

Shares of XENE opened at $30.63 on Friday. The company’s fifty day simple moving average is $36.71 and its 200-day simple moving average is $39.35. The company has a market cap of $2.34 billion, a P/E ratio of -10.86 and a beta of 1.21. Xenon Pharmaceuticals has a twelve month low of $27.56 and a twelve month high of $46.00.

Xenon Pharmaceuticals (NASDAQ:XENE) last announced its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($0.84) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.89) by $0.05. Analysts predict that Xenon Pharmaceuticals will post -3.1 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Ian Mortimer sold 22,468 shares of the business’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $40.20, for a total value of $903,213.60. Following the completion of the sale, the chief executive officer now owns 31,302 shares in the company, valued at approximately $1,258,340.40. The trade was a 41.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.52% of the stock is owned by insiders.

Hedge Funds Weigh In On Xenon Pharmaceuticals

Institutional investors have recently bought and sold shares of the business. State Street Corp boosted its position in Xenon Pharmaceuticals by 13.2% during the 3rd quarter. State Street Corp now owns 279,513 shares of the biopharmaceutical company’s stock valued at $11,004,000 after acquiring an additional 32,701 shares in the last quarter. Two Sigma Advisers LP lifted its stake in shares of Xenon Pharmaceuticals by 31.0% during the 3rd quarter. Two Sigma Advisers LP now owns 273,700 shares of the biopharmaceutical company’s stock worth $10,776,000 after purchasing an additional 64,800 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Xenon Pharmaceuticals by 0.4% during the 3rd quarter. Wellington Management Group LLP now owns 3,843,447 shares of the biopharmaceutical company’s stock worth $151,317,000 after purchasing an additional 15,226 shares during the last quarter. Y Intercept Hong Kong Ltd boosted its position in Xenon Pharmaceuticals by 68.8% during the third quarter. Y Intercept Hong Kong Ltd now owns 24,557 shares of the biopharmaceutical company’s stock valued at $967,000 after purchasing an additional 10,007 shares in the last quarter. Finally, Barclays PLC grew its stake in Xenon Pharmaceuticals by 1,275.5% in the third quarter. Barclays PLC now owns 14,993 shares of the biopharmaceutical company’s stock valued at $590,000 after purchasing an additional 13,903 shares during the last quarter. 95.45% of the stock is owned by hedge funds and other institutional investors.

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.