Xenon Pharmaceuticals (NASDAQ:XENE) Shares Up 5.2% – Still a Buy?

Xenon Pharmaceuticals Inc. (NASDAQ:XENE)’s share price traded up 5.2% during trading on Monday . The stock traded as high as $30.78 and last traded at $30.94. 420,445 shares traded hands during trading, an increase of 3% from the average session volume of 406,696 shares. The stock had previously closed at $29.40.

Analyst Ratings Changes

Several brokerages recently commented on XENE. HC Wainwright reaffirmed a “buy” rating and issued a $53.00 price target on shares of Xenon Pharmaceuticals in a research note on Monday, February 24th. StockNews.com lowered shares of Xenon Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Sunday. William Blair reissued an “outperform” rating on shares of Xenon Pharmaceuticals in a report on Friday, February 28th. Royal Bank of Canada reaffirmed an “outperform” rating on shares of Xenon Pharmaceuticals in a research note on Friday, February 28th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Xenon Pharmaceuticals in a report on Tuesday, February 11th. They set a “buy” rating and a $67.00 price objective for the company. One investment analyst has rated the stock with a sell rating and nine have given a buy rating to the company. According to data from MarketBeat, Xenon Pharmaceuticals has a consensus rating of “Moderate Buy” and an average target price of $57.38.

Xenon Pharmaceuticals Stock Up 4.2 %

The business’s fifty day moving average is $36.71 and its two-hundred day moving average is $39.35. The firm has a market cap of $2.34 billion, a price-to-earnings ratio of -10.86 and a beta of 1.21.

Xenon Pharmaceuticals (NASDAQ:XENE) last posted its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.84) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.89) by $0.05. Research analysts forecast that Xenon Pharmaceuticals Inc. will post -3.1 EPS for the current year.

Insider Buying and Selling at Xenon Pharmaceuticals

In other news, CEO Ian Mortimer sold 22,468 shares of the stock in a transaction on Friday, January 24th. The stock was sold at an average price of $40.20, for a total value of $903,213.60. Following the transaction, the chief executive officer now owns 31,302 shares of the company’s stock, valued at $1,258,340.40. This represents a 41.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 5.52% of the company’s stock.

Institutional Trading of Xenon Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the stock. State Street Corp increased its stake in Xenon Pharmaceuticals by 13.2% in the third quarter. State Street Corp now owns 279,513 shares of the biopharmaceutical company’s stock valued at $11,004,000 after purchasing an additional 32,701 shares in the last quarter. Two Sigma Advisers LP increased its position in shares of Xenon Pharmaceuticals by 31.0% in the 3rd quarter. Two Sigma Advisers LP now owns 273,700 shares of the biopharmaceutical company’s stock valued at $10,776,000 after buying an additional 64,800 shares in the last quarter. Wellington Management Group LLP raised its stake in 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 buying an additional 15,226 shares during the period. Y Intercept Hong Kong Ltd lifted its holdings 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 worth $967,000 after acquiring 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 acquiring an additional 13,903 shares during the period. 95.45% of the stock is owned by institutional investors.

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.